Phishing is a fraud technique that involves tricking people into providing personal or sensitive information. Cybercriminals often use phishing to obtain information such as user names, passwords, credit card numbers and company identification details. Phishing can be done by email, telephone or text message. 

The consequences of phishing can be disastrous for a company, affecting multiple aspects of its business. Here are the three main risks a company faces: 

• Significant financial losses. In addition to direct losses, the indirect costs - legal fees, lost productivity, loss of customer confidence and the negative impact on its reputation - can be particularly significant.
• The theft of sensitive data such as login details, banking information and personal data.
• Loss of trust. A successful cyberattack also has an impact on the company’s customers, suppliers, investors, etc. and damages its reputation. It can be difficult to rebuild trust.

Our security tips

Here is our advice on how to protect yourself from phishing:

• Check the sender’s email address: cybercriminals often use fraudulent email addresses that look like legitimate ones.
• Be careful: don’t click on links in emails or text messages from people or organisations you don’t know, and don’t open attachments. 
• Update your security software regularly.

If in doubt, contact your IT department before making a “bad” click.