Phishing attacks result in significant losses and damages to businesses every year

10 Types of Phishing Attacks and Phishing Scams

For Google and Facebook, the losses totaled more than $100 million. Belgium’s Creland Bank handed over more than $75 million to cybercriminals. And the Austrian aerospace parts maker FACC lost $61 million. What’s causing these types of massive losses? Each of these organizations were the victims of different (and costly) types of phishing attacks.

What’s a phishing attack?

In general, a phishing scam is a type of cyberattack that cybercriminals use to get users to perform some type of action. These emails are often sent out in mass with the goal of tricking unsuspecting individuals into falling for their scam. Think of your best bud — the Nigerian Prince who keeps trying to get you to take his money for “safe keeping.”

However, phishing has evolved significantly since his royal highness first entered the scene. There is now a variety of phishing attacks targeting businesses each day. Some involve the use of emails and websites; others may use text messages or even phone calls. Attacks use these methods with the goal of getting users to provide personal or account information or to make wire transfer funds to fraudulent accounts. The cybercrime industry is reaching unprecedented levels. Cybersecurity Ventures reports that the damages of cybercrime are expected to cost the world $6 trillion annually by 2021 — of which phishing is anticipated to play a significant role.

But when we talk about phishing, what types of phishing attacks are we specifically talking about? There are actually multiple types of phishing scams that businesses are targeted by on a daily basis.