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Securing Your Business and Software from Password Phishing

Protect your business and software from password phishing with strong authentication, employee education, security audits, multi-factor authentication, and anti-phishing tools.
by Fazpass Indonesia
July 14, 2023

Password phishing is the practice of attempting to get an individual's username and password through deception. For businesses, it is important to understand what are common phishing attacks and how to avoid them.

If their employees are tricked into clicking on malicious links and landing on fraudulent sites, then company information will be compromised. Learn more about password phishing and how to protect your business from digital crime here:

Common Techniques Used in Password Phishing

In today's digital era, phishing appears in various forms. Some common techniques that are often used in phishing are:

1. Email Phishing

The most prevalent sort of password phishing fraud is deceptive phishing. In this scheme, fraudsters pose as reputable firms to obtain people's personal information or login credentials.

Threats and a sense of urgency are used in these emails to terrify recipients into doing what the attackers want. Some of the techniques used in phishing emails are:

  • Legitimate links: Attackers would create emails that look like organizations they might be spoofing and include legitimate links to their deceptive phishing emails.
  • Redirect and shortened links: To fool Secure Email Gateways, scammers will use short URLs and redirect users to a phishing page after the email is sent.
  • Minimal email content: Digital attackers try to avoid detection by inserting as little material as possible in their attack emails. They may choose to do so by providing a picture instead of text.
  • Blend malicious and benign code: To steal user account credentials, they will create phishing-landing pages by mixing malicious and benign code to fool Exchange Online Protection.
  • Modify brand logos: Scammer will change the logo's HTML attribute such as its color to trick email filters which can detect bad actors stealing an organization's logo and including it in their phishing emails.

2. Spear Phishing

Phishing password attacks can be done through the spear technique. In this method, fraudsters would personalize their attack emails using the target's name, company, work phone number, or other information to fool recipients into thinking they have a relationship with the sender.

Though the objective is to encourage victims to click URLs or email attachments to give over their personal information.

3. Smishing (SMS phishing)

Digital scammers also utilize text messages to trick victims into clicking malicious URLs to get them to hand over their personal information. Several techniques can be used in smishing, for example triggering the download of a malicious application.

Then, the application will deploy ransomware that can remotely control the victim's device. Digital scammers also use text messages with phishing techniques to trick targets into clicking on malicious URLs.

There are also digital scammers posing as legitimate customer service representatives. They will send a text message instructing the recipient to click on a certain URL to hand over their personal data.

4. Vishing (Voice phishing)

Password phishing can occur through other media, such as vishing/ voice phishing. This sort of phishing assault foregoes sending an email in favor of making a phone call.

An attacker can launch a vishing campaign by emulating multiple entities with a Voice over Internet Protocol (VoIP) server to steal sensitive data and/or payments.

The Threat to Businesses

Phishing attacks may have a wide range of effects on organizations, depending on criteria such as the size of the organization and the amount of information stolen.

Theft of intellectual property is a typical result of phishing schemes. Hackers that get access to your sensitive information or systems may take your research files, trade secrets, customer lists, formulae, and impending advancements.

Password phishing attacks will also threaten business reputation damage, loss of customers, and significant financial loss. Therefore, it is important to adopt the right strategy to avoid phishing for the safety and success of your business.

Risks Posed to Software Security

Businesses must be prepared to experience phishing attacks because this digital crime has grown increasingly sophisticated in recent years. To overcome this, businesses can use security software to provide a second line of defense if employees or users cannot recognize that an email is phishing.

Password managers act as a deterrent against phishing assaults, allowing you a second chance to spot a problem before sensitive information is exposed. Also, password managers enable network access restrictions, allowing administrators to see who is using the password manager and where they are using it.

Protecting Businesses and Software from Password Phishing

password phishing

Digital crime is harmful to a business and software. Therefore, it is important to protect it in the following ways:

1. Implementing Strong Authentication Measures

Strong authentication techniques, such as two-factor authentication, can assist in preventing unwanted access or password phishing attacks on sensitive data.

Passwords should be complicated and one-of-a-kind, and then employees and users should be obliged to change them regularly. Biometric identification methods, such as fingerprint or face recognition, can also offer a layer of protection.

2. Educating employees and users about phishing threats

The second way is by educating employees and users about the dangers of phishing and empowering them to detect and report phishing attempts. Practicing phishing awareness can be done through written documents, company meetings, classroom training, online videos, and so on.

3. Conducting regular security audits and vulnerability assessments

By conducting regular security audits, the organization's security will be kept up-to-date, and in line with industry standards, and password phishing will be minimized.

Additionally, vulnerability assessments should be performed regularly to discover possible security risks before they become big issues.

4. Using Multi-Factor Authentication

MFA, which requires users to identify themselves with more than just a username and password, offers an extra layer of protection on top of 2FA.

Mobile app codes, responses to personal security questions, codes delivered to an email address, fingerprints, and other forms of multi-factor authentication are examples.

5. Deploying Anti-Phishing Software and Tools

Anti-phishing software is a computer application tool that detects questionable information or data delivered by websites, emails, pop-ups, or even internet connections.

In addition, anti-phishing software can interface with your web browser's toolbox and your email inbox to block fake websites and password phishing websites. Also, anti-phishing software may detect malware, spoofing, spam, and other forms of cybercrime.

Thus, organizations can be aware of some of the most common types of password phishing attacks. A business needs to conduct security awareness training so that executives and employees can develop the necessary policies for the survival of the organization.

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