Phishing attacks continue to be one of the most effective tools in a cybercriminal's arsenal. According to industry research, over 90% of successful cyberattacks begin with a phishing email. For small and mid-sized businesses, understanding and defending against these threats is essential.
What is Phishing?
Phishing is a type of social engineering attack where criminals impersonate trusted entities to trick people into revealing sensitive information, clicking malicious links, or downloading harmful attachments. These attacks exploit human psychology rather than technical vulnerabilities.
Common Types of Phishing Attacks
**Email Phishing**: Mass emails that appear to come from legitimate organizations like banks, vendors, or even your own IT department.
**Spear Phishing**: Targeted attacks that use personal information to make the message more convincing. The attacker might reference your specific role, recent projects, or business relationships.
**Business Email Compromise (BEC)**: Sophisticated attacks where criminals impersonate executives or trusted partners to request wire transfers or sensitive information.
Warning Signs to Watch For
How to Protect Your Business
**Employee Training**: Regular security awareness training is your best defense. Employees should learn to recognize phishing attempts and know how to report them.
**Email Security**: Implement email filtering solutions that can catch many phishing attempts before they reach inboxes.
**Multi-Factor Authentication**: Even if credentials are compromised, MFA adds another layer of protection.
**Verification Procedures**: Establish procedures for verifying requests for sensitive information or financial transactions, especially when they come via email.
**Incident Response**: Have a plan for what to do when someone clicks a suspicious link or reports a potential phishing attempt.
What to Do If You Suspect Phishing
The key to phishing defense is vigilance and creating a culture where employees feel comfortable reporting suspicious activity without fear of blame.