Phishing is a pervasive form of social engineering that extends far beyond just fraudulent emails. It's a sophisticated cyber attack strategy designed to trick individuals into revealing sensitive information, such as login credentials, financial details, or other personal data. While traditionally associated with deceptive emails, modern phishing techniques have evolved to exploit various communication channels and technologies.

With technology rapidly evolving and the increasing gravity of security attacks, it's crucial to regularly refresh your knowledge on phishing. What worked as a defense strategy last year may not be sufficient today. Staying informed about the latest phishing techniques and continuously updating your security practices is key to maintaining a robust defense against these ever-evolving threats. 

In this blog, we’ll equip you with a comprehensive understanding of common types of phishing and the tools to protect your organization effectively now in 2024. 

Good Old Fashioned Email Phishing

From business executives to internet surfers at home, anyone who opens an unknown email and trusts its content is vulnerable to this classic manipulation tactic. Most people simply don't have the time to carefully analyze every message that lands in their inbox and that's exactly what phishers are hoping to exploit in various ways.

How do you discern a real email versus a phishing scam? The best way to fight back is by staying educated on the signs, and by being vigilant. Make sure you check the URL for legitimacy. Hover over the link to see if it might be fake, and if it seems even remotely questionable, don’t click on it. Additionally, use email authentication protocols like DMARC, SPF, and DKIM to verify sender identities.

Cloud Storage Phishing

Cloud service providers such as Amazon, Google, and Dropbox have recently become the target of phishing scammers. Generally, the scammers send victims attachments requesting that the user log into their cloud provider through a dummy portal, capturing private login information in the process.

Many of the phishing campaigns targeting cloud storage providers contain lures (information to make phishing content appear more legitimate) saying that a document or picture has been shared with the victim and encourage them to sign into their account to view it. Being that many of us trust the cloud implicitly with our personal data, be sure to remain alert when an unknown attachment comes through. Implement multi-factor authentication (MFA) for all cloud services to add an extra layer of security.

SMS Phishing

More and more phishing scammers are shifting their focus towards attacking users through their smartphones, since mobile applications have become ideal vectors for attack.

Mobile phishing is an emerging threat in today’s connected world. In a mobile phishing attack, an attacker usually sends an SMS message containing links to phishing web pages or applications which, if visited, ask for credentials. These attacks, referred to as “smishing”, can also be initiated via email messages loaded in the browser of mobile devices. The rise of 5G networks has increased the sophistication and speed of mobile phishing attacks, making them harder to detect and prevent.

It’s easy, really: unsuspecting users just download forged applications loaded with malware, and crooks then actively capture personal information and trick users into divulging passwords. Make sure you protect yourself by always reading app reviews before initiating downloads, keep security settings strict, and consider adopting a reliable mobile security solution immediately. Use mobile threat defense (MTD) solutions to protect against advanced mobile phishing attempts.

TOAD Phishing

According to Proofpoint's 2024 State of the Phish Report, 10 million TOAD emails are sent every month. TOAD, which stands for Telephone-Oriented Attack Delivery, is a sophisticated phishing technique where attackers use a combination of email and phone calls to manipulate victims. These attacks often start with an email containing a phone number, urging the recipient to call for urgent matters like account verification or financial issues. When the victim calls, they're connected to a scammer who then attempts to extract sensitive information or credentials. To protect against TOAD phishing you should be skeptical of emails urging you to call a provided number, especially for sensitive matters. Additionally, implement strong authentication processes for phone-based interactions involving sensitive information.

General Quick Tips on How to Avoid Becoming a Victim of Phishing

Phishing has been around practically since the inception of the Internet, and it won’t go away anytime soon. It is necessary for you to become familiar with the best ways to avoid phishing scams.

Here are some quick tips to learn how to guard against them:

• Stay informed about phishing techniques. New phishing scams are being developed all the time. If you aren’t staying on top of these new phishing techniques, you could inadvertently become a victim. Keep your eyes peeled for news about the latest phishing scams. By finding out about them as early as possible, you will be at a much lower risk of getting snared.
• Do not click on links, download files, or open attachments in emails from unknown senders. It is best to open attachments only when you are expecting them and know exactly what they contain, even if you know the sender.
• Never email personal or financial information, even if you are close with the recipient. You never know who may gain access to your email account, or to the person’s account to whom you are emailing.
• Never enter personal information in a pop-up screen. It's never a good idea. 
• Keep your browser updated. Security patches are routinely released for popular browsers. They are released in response to the security loopholes that phishers and other hackers inevitably discover and exploit. If you typically ignore messages about updating your browsers, put a stop to that habit. The minute an update is available, download and install it.
• Install an anti-phishing toolbar. Most popular Internet browsers can be customized with anti-phishing toolbars. Such toolbars run quick checks on the sites that you are visiting and compare them to lists of known phishing sites. If you stumble upon a malicious site, the toolbar will alert you to it. This is just one more layer of protection against phishing scams, and it is completely free.

• Use AI-powered email security solutions. These advanced tools can detect sophisticated phishing attempts by analyzing email content, sender behavior, and other contextual factors.

• Implement regular phishing simulations. Conduct periodic tests to assess your organization's vulnerability to phishing attacks and provide targeted training based on the results.

• Adopt a zero-trust security model. Assume that no user, device, or network is trustworthy by default, and implement strict verification processes for all access requests.

Nobody wants to fall prey to a phishing scam. There’s a good reason that such scams will continue, though: they're successful enough for cybercriminals to make massive profits. Fortunately, there are ways to avoid becoming a victim.

Protect your staff against cyber threats with Align Cybersecurity™ Security Awareness Training.

Align Cybersecurity offers tailored, nimble and advanced cybersecurity solutions encompassing Vulnerability Assessments / Penetration Testing, Cybersecurity Risk Management as a Service (Align Risk CSR), Customized Cybersecurity Programs, Third Party Management, Managed Threat Protection (Align Guardian), Cybersecurity Training and more.

About Align Managed Services: 

Align's Managed Services team provides comprehensive IT Solutions that allow businesses to operate efficiently without the cost of in-house IT. This includes managing cloud services, implementing cybersecurity measures, handling day-to-day IT operations, and ensuring compliance with industry regulations. Our team offers unparalleled expertise for the alterative investment space, making us the premier choice for hedge funds, private equity first and other financial institutions. As part of Align, the premier global provider of technology infrastructure solutions, we bring over 35+ years of experience in solving complex IT challenges for business worldwide.