What is Phishing?

In today’s increasingly digital world, much of what we do — whether for business or pleasure — is carried out online. This surge in online activity has resulted in a massive explosion in cybercrime.

Cybercrime has become a powerful tool for criminals seeking to steal our personal data and extort money. The speed, anonymity, and convenience of the internet have enabled criminals to launch highly targeted attacks with very little effort.

According to the 2025 Cifas/Global Anti-Scam Alliance report for the UK, scamming and fraud against consumers reached about £9.4 billion over the past 12 months.

The most successful and dangerous of all cyber-attacks is phishing. Research has found that 91% of all cyber-attacks start with a phishing email.

Phishing continues to be the most common form of cyber-attack due to its simplicity, effectiveness, and high return on investment. It has evolved from its early days of tricking people with tales of Nigerian princes or urgent pleas for medical help. The phishing attacks taking place today are sophisticated, highly targeted, and increasingly difficult to spot.

Types of Phishing Attacks

Phishing attacks come in many different forms but the common thread running through them all is their exploitation of human behaviour. The following examples are the most common forms of attack used.

Spear-phishing is a more targeted attempt to steal sensitive information and typically focuses on a specific individual or organisation. These types of attack use personal information about the victim in order to appear legitimate. Cybercriminals often turn to social media and company websites to research their targets. Once they have gathered enough information, they begin sending personalised emails containing malicious links. When clicked, these links can infect a computer with malware, giving the attacker access to confidential data or systems.
Vishing refers to phishing scams that take place over the phone. It involves the most human interaction of all phishing attacks but follows the same pattern of deception. Fraudsters often create a sense of urgency to persuade victims to divulge sensitive information. Calls are frequently made using a spoofed caller ID, making them appear as though they are coming from a trusted source. A typical scenario might involve the scammer posing as a bank employee, claiming to have detected suspicious activity on the victim’s account. Once they have gained the victim’s trust, they ask for personal information such as login details, passwords, and PINs. These details can then be used to empty bank accounts or commit identity fraud.
Whaling differs from other types of phishing in the high-level choice of target. A whaling attack is an attempt to steal sensitive information and is typically aimed at senior management or executives. Whaling emails are far more sophisticated than standard phishing emails and much harder to detect. They often contain personalised information about the target or organisation, and the language used is more corporate in tone. Considerable effort and thought go into crafting these emails due to the potentially high payoff for the cybercriminals.
Smishing is a type of phishing that uses SMS messages rather than emails to target individuals. It is an effective method for cybercriminals to trick people into divulging personal information such as account details, credit card numbers, or usernames and passwords. Typically, the fraudster sends a text message to the victim’s phone, often including a call to action that demands an immediate response.
Clone Phishing occurs when a legitimate, previously delivered email is used to create an identical message with malicious content. The cloned email appears to come from the original sender but contains updated links or attachments designed to install malware or steal sensitive information.

How Phishing Can Damage Your Business

Attacks against businesses have almost doubled in recent years, and the impact of a phishing attack can be devastating. Even with strong security systems in place, cybercriminals often exploit the weakest link: employees. Just one human error can result in the loss of sensitive data, and the aftermath can damage customer trust and a company’s reputation.

Identity Theft

Theft of Sensitive Data

Theft of Client Information

Loss of Usernames and Password

Loss of Intellectual Property

Theft of Funds from Business and Client Accounts

Reputational Damage

Unauthorised Transactions

Credit Card Fraud

Installation of Malware and Ransomware

Access to Systems to Launch Future Attacks

Data sold to Criminal Third Parties

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How to Spot Phishing Attacks

Identifying phishing emails has become much harder as criminals have grown more sophisticated. Today’s emails are often well written, personalised, and use the logos and language of trusted brands, making it difficult to tell them apart from legitimate messages. Despite this, there are still some warning signs that can help alert us to a phishing attempt.

The Ultimate Guide to Phishing | MetaCompliance Ltd

Tips for Identifying Phishing Scams

A mismatched URL

One of the first things to check in a suspicious email is the validity of a URL. If you hover your mouse over the link without clicking on it, you should see the full hyperlinked address appear. Despite seeming perfectly legitimate, if the URL does not match the address displayed, it is an indication that the message is fraudulent and likely to be a phishing email.

How to protect yourself against Phishing Attacks

1. Avoid Clicking Suspicious Links

Phishing scams often trick people into opening emails or clicking links that appear to come from legitimate sources. These links may direct you to fake websites that steal personal information or infect your computer with malware. Legitimate businesses will never ask you to enter or update sensitive information via email.

2. Educate Staff

Even the strongest security systems are vulnerable if employees unknowingly provide information to cybercriminals. Regular training helps staff recognise phishing attempts and understand their role in preventing attacks. Simulated phishing tests can also reinforce awareness and strengthen your first line of defence.

3. Be Careful What You Share Online

Social media and public profiles provide cybercriminals with information to craft highly targeted phishing attacks. Limit the personal data you share, use privacy settings, restrict access to unknown users, and use strong passwords to reduce your risk.

4. Verify Website Security

Before entering personal information, check that a website is secure. Look for URLs starting with “https” and a padlock icon in the address bar. These indicate the site uses SSL encryption, keeping your data safe.

5. Install and Update Anti-Virus Software

Anti-virus software helps detect threats and block unauthorised access. Keep your programmes updated to protect against vulnerabilities in older software versions.

Take Action: To strengthen your organisation’s defences and train staff effectively, explore MetaCompliance Advanced Phishing Simulation software, providing realistic phishing and ransomware simulations to safeguard your business.

FAQs: The Ultimate Guide to Phishing

What is phishing?

Phishing is a cyber-attack where criminals try to steal personal information or install malware, often using emails, texts, or phone calls that appear legitimate.