Around 3.4 billion spear phishing emails are sent every day.
From this huge number, 47% of emails successfully steal login credentials, install malware, and commit other cybercrimes.
If you run a business, chances are that you have also experienced at least one spear-phishing attempt.
You simply can’t avoid these malicious attacks from cybercriminals.
However, what you can do is protect your business from the damages.
Wondering how? Today’s article will discuss this topic in great detail.
From email scanning to MFA, we will talk about what helps protect from spear phishing and how you can implement it for your business model.
Let’s begin!
The Basics of Spear Phishing
Spear phishing is a targeted form of phishing attack in which cybercriminals customize their fraudulent messages to a specific individual or organization.
This means that these attacks aren’t random or spontaneous – they are carefully planned.
In a spear phishing attack, the perpetrator does extensive research on the targeted victim.
They gather personal information like name, job role, and relationships within the organization.
Some may even scan the dark web to collect more sensitive data about the target.
This enables the criminal to create a message that appears legitimate and relevant to the recipient.
The goal is to gain the trust of the target and trick them into revealing something valuable like:
- Login credentials
- Financial data
- Confidential information
At times, the criminal will prompt the target to click a malicious link, download a corrupt file, or transfer money.
All of this can cause a huge loss to the organization.
For example, from 2013 to 2015, Google and Facebook suffered a collective loss of $122 million when a European cybercriminal impersonated a hardware supplier and sent spear-phishing emails to transfer funds to different accounts.
The criminal was arrested in 2017, but the loss was significant enough to give both tech giants a setback.
What Helps Protect from Spear Phishing?
As a business owner, protecting your company and its employees from spear phishing is very important.
You need to take certain measures that limit this threat as much as possible.
Here are some examples to get you started:
Regular Employee Training
The content of spear phishing emails is designed to create a sense of urgency or exploit emotional triggers.
You will find words like quickly and immediately to make the recipient take action.
Most victims are so captivated by the content that they don't check whether the mail is legit or not.
So, the first thing you need to do is train your employees about these fraudulent messages.
Conduct a monthly workshop on spear phishing emails and educate the workers on how to detect it.
For example, spear phishing emails often have the wrong email address but the right username.
Your employee should always verify the email address first.
Also, update your employees about the latest trends and patterns.
This can help them improve their detection skills.
If possible, host spear phishing email simulations to better train the team on minimizing the damage.
Multi-Factor Authentication System
Multi-factor authentication system simply asks you to verify more information before allowing access to the company portal.
This may include code, biometrics, and text messaging. We already use this type of authentication for our Google and Facebook.
Enabling it on your business portal can add an extra layMF authentication of security to the information.
Hackers can't access it with just login credentials – they need other details too.
This can also alert other members of the team, allowing them time to take action and stop the spear phishing attack instantly.
However, make sure your team is aware of how the actual system works.
VPN
VPN refers to a virtual private network that encrypts your internet connection and masks your IP address.
This makes your online activities secure and private. Nobody can track you or install cookies on your device.
So, if your company has heavy internet usage, make sure to install a VPN service on all computers.
You can also offer a VPN to remote employees and ask them to use it whenever logging into the company's portal.
Attachment Sandboxing
Attachment sandboxing is a security technique that involves isolating and testing email attachments in a controlled environment (sandbox) before allowing them to reach the recipient.
This ensures you don’t open any malicious files and risk your safety.
So, when it comes to spear phishing, attachment sandboxing is an amazing tool.
It analyzes the emails, identifies the threat, and prevents it from being successful.
As a result, organizations can detect and neutralize sophisticated malware delivered through spear phishing emails.
Consequently, no employee becomes a victim, which enhances the overall cybersecurity defenses.
To understand this further, watch this video:
What is Attachment Sandboxing and why is it important?
Email Authentication Protocols
Email authentication protocols are advanced mechanisms used to verify the authenticity of emails.
Here’s an overview of the 3 common standards:
- SPF (Sender Policy Framework)
It works by allowing domain owners to publish a policy in their Domain Name System (DNS) records, specifying which mail servers are authorized to send emails on behalf of their domain.
When an email is received, the recipient's mail server can check the SPF record to verify if the sending server is legitimate.
If the server is not listed in the SPF record, it is considered suspicious and a threat.
- DKIM (DomainKeys Identified Mail)
DKIM works by adding a sign to the message's header.
The sender's email server generates a unique private key, signs selected parts of the email and publishes a public key in the DNS records for the sender's domain.
When the recipient's email server receives a DKIM-signed email, it retrieves the public key from the DNS records, decrypts the digital signature, and verifies that the email content has not been altered during transit.
If the signature is valid, it assures that the email is from the claimed sender and has not been tampered with.
- DMARC (Domain-based Message Authentication, Reporting, and Conformance)
DMARC builds on SPF and DKIM to provide additional protection against email spoofing and phishing.
It allows domain owners to publish policies in their DNS records to instruct email receivers on how to handle messages that fail authentication checks.
This means you can specify what actions email receivers should take when they encounter emails that claim to be from a domain but fail SPF and DKIM checks.
The possible actions include monitoring (reporting but not taking any other action), quarantining (placing the email in the recipient's spam or quarantine folder), or rejecting (blocking the email entirely).
DMARC also includes a reporting mechanism. This allows domain owners to receive feedback reports on emails that pass or fail authentication.
- Anti-Phishing Software
Anti-phishing software is designed to detect and block phishing attacks, including spear phishing emails.
It employs various techniques such as email analysis, link scanning, and content inspection to identify and thwart phishing attempts.
It also recognizes patterns and malicious URLs, which makes the tool very effective in stopping attacks.
In any business, this software is mandatory to help protect employees and stakeholders from falling victim to deceptive emails and fraud.
Encryption & Backup
Lastly, encrypt all your confidential business data and give the decryption key to a limited number of people.
This will reduce the possibility of accidents because these people will be highly trusted, responsible, and educated about spear phishing attacks.
Also, duplicate the database and store this as a backup somewhere.
So, in case of a data breach, your business won’t come to a halt.
You will still have the required information to operate and execute daily chores while the attack is being handled by professionals.
FAQs
What makes spear phishing so successful?
Spear phishing is highly successful due to its targeted approach.
The criminal uses personalized information about the victim to craft convincing and seemingly legitimate messages.
So, it’s very difficult for the victim to identify whether the message is a scam or not.
Who does spear phishing often target?
Spear phishing often targets employees with access to sensitive information, financial data, or network credentials.
Examples include high-profile executives, government officials, and other employees in key roles.
How is spear phishing different from phishing?
Spear phishing is a specialized form of phishing that uses personalized information to target specific individuals.
Comparatively, phishing is a broader attack where cybercriminals cast a wide net.
They send generic, mass emails to trick recipients into revealing sensitive information or clicking on malicious links.
Last Words
Spear phishing attacks can be very sophisticated and difficult to detect.
This makes them a significant threat to individuals and organizations.
To protect against spear phishing, it's important to stay vigilant and employ security best practices.
Also, be cautious when interacting with unexpected or suspicious emails, even if they appear to be from known sources.
If you’re a business that can’t risk any kind of data breach, it’s best to hire a professional cybersecurity service like Cyberlynx.
We ensure your digital presence is secure in all aspects so that you can grow your business in a safe and risk-free environment.
Want to learn more? Call us at 301-798-9170 or email us at info@cyberlynx.com!