Phishing pages are the first step in a long chain of events that can result in identity theft, financial loss, and reputational damage for both individual consumers and businesses, report says
More than 8.7% of individuals and corporate users were affected by phising attacks in Africa. This is according to a recent report by cybersecurity and digital privacy company, Kaspersky. According to the report, about 9.7% of users in South Afrcia were affected by phishing attacks followed by Kenya at 8.4% and Nigeria at 7%.
According to the report, while spam and phishing attacks are not necessarily complex, they however rely on sphisticated social engineering tactics and as such are dangerous to those who are not aware of them.
It noted that fraudsters are skilled at creating phishing web pages identical to the original websites that collect private user data or encourage the transfer of money to fraudsters targeting both individuals and organisations. The report also noted that more cybercriminals turned to phishing in 2022.
The sphere most frequently targeted with phishing attacks was delivery services. Fraudsters send fake emails pretending to be from well-known delivery companies and claim there is an issue with a delivery. The email includes a link to a fake website, which asks for personal information or financial details. If the victim falls for the scam, they could lose their identity and banking information, which may be sold to websites on the dark web.
Accoridng to the report, with financial phishing, the most commonly targeted categories were online stores and online financial services. Among the financial phishing attempts in South Africa 15.4% were through websites of fake payment systems, 68.4% through fake online stores and 16.2% through fake online bank portals. Among the financial phishing attempts in Kenya 22.5% were through websites of fake payment systems, 54.9% through fake online stores and 22.6% through fake online bank portals. And among the financial phishing attempts in Nigeria 31.1% were through websites of fake payment systems, 51.2% through fake online stores and 17.8% through fake online bank portals.
Phishing pages are the first step in a long chain of events that can result in identity theft, financial loss, and reputational damage for both individual consumers and businesses
Kaspersky experts have also highlighted a global trend in the phishing landscape of 2022: an increase in the distribution of attacks through messengers, with the majority of blocked attempts coming from WhatsApp, followed by Telegram and Viber.
It reported that there is also growing demand among cybercriminals for social media credentials, with criminals exploiting people’s curiosity and desire for privacy by offering fake updates and verified account status on social media platforms.
“Phishing is one of the most prevalent and pernicious threats in the cybersecurity landscape. Being the gateway to many of the worst cyber threats, phishing pages are the first step in a long chain of events that can result in identity theft, financial loss, and reputational damage for both individual consumers and businesses. It’s crucial for everyone to understand the threat and take action to protect themselves,” comments Olga Svistunova, security expert at Kaspersky.
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