Impact of Phishing Attack on Business

Phishing attacks are a major threat to business, using tricks to manipulate employees into giving away sensitive information. This chapter explores how phishing attacks impact business operations, resulting in to financial losses, data breaches, and damage to reputation of business. Through case studies like Crelan Bank incident, it shows severe consequences of these attacks, including large amounts of financial loss and long-term harm to the company’s reputation. This chapter explains different types of phishing attacks including email phishing, spear phishing, whaling, smashing, and gushing. Each type has its own methods but all aimed at stealing sensitive information. It describes the processes and techniques used in phishing attempts, such as fake emails, malicious links, attachments, and tricking people into giving. Sensitive information. This also emphasizes on the effects of phishing attacks on businesses such as financial loss to businesses, compromised data, and legal issues. The preventive measures include employee training, implementing multi-factor authentication with robust security systems, and staying updated on the latest trends. This chapter also looks at future trends in phishing attacks, such as the use of artificial intelligence, targeting cloud platforms, and exploiting mobile devices. Overall, chapter focuses on the need for businesses to implement robust cyber security strategies to reduce the risks of phishing attacks, protecting their operations and maintaining trust with their stakeholders