Phishing attacks

Definition

Phishing attacks are deceptive attempts to obtain sensitive information, such as usernames, passwords, and credit card details, by masquerading as a trustworthy entity in electronic communications. These attacks often take the form of emails or messages that appear to come from reputable sources, tricking individuals into clicking on malicious links or providing personal data. Understanding phishing is crucial for maintaining cybersecurity and privacy during online interactions and negotiations.

5 Must Know Facts For Your Next Test

1. Phishing attacks can lead to significant financial losses and data breaches, making them a major concern for individuals and organizations alike.
2. These attacks often utilize urgency or fear tactics, convincing victims they must act quickly to avoid negative consequences.
3. Phishing can take various forms, including spear phishing (targeted) and whaling (targeting high-level executives).
4. Organizations often use security awareness training to help employees recognize and avoid phishing attempts.
5. Two-factor authentication is an effective strategy to mitigate the risks associated with phishing attacks, adding an extra layer of security.

Review Questions

• How do phishing attacks exploit human psychology in online negotiations?
  • Phishing attacks exploit human psychology by creating a sense of urgency or fear, prompting individuals to act quickly without fully considering the risks. In online negotiations, attackers may pose as trusted parties, using familiar branding or language to lower defenses. This manipulation can lead individuals to disclose sensitive information or click on malicious links, jeopardizing both personal and organizational security.
• What measures can organizations implement to protect themselves against phishing attacks during online negotiations?
  • Organizations can protect against phishing attacks by implementing comprehensive security awareness training programs for employees, ensuring they can recognize suspicious emails and messages. Additionally, adopting advanced email filtering solutions can help block potential phishing attempts before they reach inboxes. Implementing two-factor authentication for sensitive accounts adds an extra layer of security that can mitigate the effects of a successful phishing attack.
• Evaluate the potential long-term impacts of phishing attacks on trust and relationships in online negotiations.
  • Phishing attacks can significantly undermine trust in online negotiations by creating a pervasive fear of fraud and deception among participants. As individuals become more wary of potential scams, they may hesitate to engage fully in negotiations or share important information, ultimately stunting collaboration. In the long run, repeated exposure to phishing incidents could lead to a culture of skepticism, where genuine offers are questioned and the overall efficacy of online negotiation platforms is diminished.

Related terms

malware:

Malicious software designed to disrupt, damage, or gain unauthorized access to computer systems and networks.

social engineering: A manipulation technique that exploits human psychology to gain confidential information or access to systems.

ransomware: A type of malware that encrypts a victim's files and demands payment for the decryption key.