By pretending to be a person or organization that the user trusts, the fake links convince the user to take action that allows the scammer to access their device, account, and personal information. They can easily infect the victim with malware or steal sensitive information.
Hackers are targeting financial operations to attack users
Social engineering attacks often exploit a user’s trust in order to gain valuable information. Here, valuable information can be anything from social media logins to full identities through national identification numbers. This type of scam prompts users to open attachments, click on links, and fill out forms or responses by providing personal information.
Financial phishing is a form of financial fraud involving banks, digital stores, and payment systems. One form of payment system phishing involves impersonating well-known payment brands.
In 2023, Kaspersky solutions detected and prevented a total of 455,708 financial phishing attacks, targeting companies of various sizes in the region. The statistics reveal the number of times users clicked on phishing links, placed in various communication channels including emails, phishing websites, messaging apps or social networks…
Mr. Yeo Siang Tiong, General Manager for Southeast Asia at Kaspersky, commented: "Phishing attacks are a form of attack with a high probability of success for cybercriminals when penetrating corporate networks. Accordingly, the rise of artificial intelligence (AI) has helped cybercriminals create fraudulent messages or asset fraud. This leads to difficulties for users in distinguishing between phishing and normal communication. This is why the role of security solutions is becoming increasingly important."
According to the report, the Philippines recorded 163,279 financial fraud cases - the highest in 2023. Malaysia followed with 124,105 cases, Indonesia also recorded 97,465 attacks, while the number of attacks in Vietnam was 36,130. Thailand and Singapore were the two countries with the fewest number of attacks, with 25,227 and 9,502 respectively.
To help businesses protect their networks from damage caused by a sophisticated phishing attack, Kaspersky experts recommend the following steps:
- To raise leaders’ awareness of the importance of cybersecurity and how to properly allocate budgets to stay ahead of cyber threats, businesses should invest in the Kaspersky Interactive Protection Simulation solution to elevate their expertise to the C-level.
- Consider the advice of experts. For example, Kaspersky Professional Services identifies security gaps in user system configurations, and Security Architecture Design helps create the right IT security infrastructure for each company. Each step is based on real security needs, giving decision makers a compelling case for budget allocation.
- Install and use business security solutions with anti-phishing software: Advanced Anomaly Control feature in Kaspersky Endpoint Security for Business Advanced, Kaspersky Total Security for Business and Kaspersky Endpoint detect and Response Optimum solutions, helps prevent and detect "out of the norm" activities performed by users and attackers who have taken control of the system.
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