3 Common Phishing Scams to Recognize
By Scott Bader, Chief Information Security Officer
Phishing remains one of the most common ways cybercriminals gain access to business systems, sensitive information, and company funds. As artificial intelligence becomes more advanced, fraudulent emails, text messages, phone calls, and websites are becoming increasingly convincing and harder to identify. Over 80% of phishing attempts are now generated with AI.
The good news is that many phishing attacks share common warning signs. Understanding what to look for and what to avoid can help businesses reduce risk and avoid costly repercussions. Here are three tactics to watch for:
1. Fraudulent Login Requests
Cybercriminals often send emails that appear to come from a bank, software provider, cloud platform, or internal technology team. The message may claim there is a problem with an account and urge the recipient to click a link and log in immediately. That link may lead to a fraudulent website designed to capture usernames, passwords, and authentication codes.
• Never share authentication credentials or codes; legitimate support teams should never make this request
• Never click login links in unexpected emails
• Navigate directly to trusted websites using a saved bookmark or typed URL
• Use multi-factor authentication (MFA) on business systems
2. Urgent Payment or Sensitive Information Requests
• Requests for urgency or confidentiality should always be considered a red flag and verified through trusted sources
• Verify payment requests and other impactful tasks through a trusted phone number or known contact
• Follow established approval procedures for financial transactions – consider dual-control practices
• Be cautious of unexpected changes to payment instructions – verify thoroughly through trusted sources
3. Malicious Attachments and Links
Many phishing emails contain attachments or links designed to install malicious software once opened. What appears to be a harmless document or link can lead to compromised systems, stolen information, or ransomware. AI-based phishing campaigns have significantly increased the volume of ransomware incidents. Adopt a “Verify Before You Trust” approach.
• Avoid opening unexpected attachments, even if coming from a trusted source
• Don’t click links from unknown or unverified sources
• Keep antivirus and endpoint security software installed and updated
Awareness is Your Best Defense
Employee awareness remains one of the strongest defenses against phishing and other forms of social engineering. Businesses can strengthen their security by encouraging employees to pause, verify before acting on email requests, and reporting unusual activity. To support these behaviors and reduce risk, organizations should focus on following a few best practices, including:
• Following established verification and approval procedures (“Verify Before You Trust”)
• Require MFA authentication for access to critical systems and sensitive data
• Develop a culture of security including routine cybersecurity awareness training for employees
• Reporting unusual emails, texts, and requests promptly
Cybercriminals will continue to evolve their tactics, benefiting from modern technology like AI. But an educated and informed workforce can help defend against these threats and avoid costly cybersecurity incidents.
To learn more about fraud prevention tools and ways to help protect your business accounts, visit the Five Star Bank Security Center.
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