Phishing attacks have become one of the most prominent forms of cybercrime in recent years. By taking advantage of consumer trust, or simply grasping opportunities to redirect communications, cybercriminals trick individuals into revealing sensitive information such as usernames, passwords, or credit card details. The consequences are severe for the individual but also for the business, leading to financial losses, operational disruptions, and reputational damage.

Click fraud, where automated bots or bad actors generate illegitimate ad clicks, often intersects with phishing. For instance, phishing tactics are used to compromise devices that later become part of botnets targeting advertising campaigns. 

However, not all industries are targeted equally. Certain sectors find themselves under threat more frequently because of the nature of their operations, the volume of sensitive information processed, or simply because there are more opportunities to trick customers and exploit vulnerability. In this post, we explore the industries most at risk of phishing attacks, and explain what you can do to reduce the risk.

Financial Services

The financial sector is one of the most lucrative targets for phishing attacks. Banks, payment platforms, and other financial institutions handle massive amounts of sensitive personal data, as well as having direct access to bank accounts. Beyond direct fraud, compromised devices can also facilitate click fraud, with stolen credentials used to access and manipulate ad accounts for malicious purposes. This makes them prime targets for cybercriminals looking to turn a quick profit. 

Emails are also often used as a platform for phishing in this sector—in fact, research shows that 90% of cyberattacks are started via email. When it comes to banking, these emails work by alerting customers of “suspicious activity” on their accounts and contain a link that victims are prompted to click on to confirm their identity. In reality, this is a way to get customers to enter their personal login information on a fake page.

Especially where our money is concerned, these emails can be particularly unsettling, and encourage people to act irrationally. If you’re suspicious about a correspondence, it’s always best to get your bank’s contact details from their website and get in touch with them directly. 

Healthcare

The healthcare sector stores vast amounts of highly sensitive patient data, from medical records to insurance details. The rise in electronic health records has only increased the industry’s exposure to phishing attacks, as more information is now stored online. 

Cybercriminals use phishing to gain unauthorized access to healthcare systems, which can result in data breaches and disruption of critical services. Malicious emails disguised as appointment reminders or urgent requests for patient information can trick healthcare employees into revealing confidential details without them even realizing it. 

Once inside, they not only compromise data but can also enable click fraud. For instance, healthcare platforms running digital ad campaigns might see their budgets drained by illegitimate traffic originating from phishing-compromised devices. 

As professionals in this sector are frequently already working at capacity, under intense pressure, these scams are particularly successful. A 2021 Healthcare Cybersecurity Survey revealed that 57% of the most serious reported incidents involved phishing.

Retail and E-commerce

Online shopping platforms and retailers are increasingly popular targets for phishing attacks, as so many consumers now do the majority of shopping on the internet. With customers entering both personal and financial information during these transactions, hackers see these platforms as a huge opportunity for data theft.

A common tactic involves sending fake order confirmation emails containing malicious links. Customers click on these links to track a “shipment,” unknowingly compromising their accounts. Similarly, click fraud might involve encouraging users to click on ads for non-existent deals, driving illegitimate traffic.

Technology and SaaS Platforms

You might think they’re the safest companies, but technology firms and SaaS (Software as a Service) platforms are not only at risk themselves but are also frequently exploited in phishing schemes targeting their users. A compromised SaaS platform could lead to widespread security incidents affecting multiple organizations due to the nature of their work. These compromised accounts often become hubs for click fraud, redirecting ad traffic and inflating metrics.

How Can You Prevent Phishing Attacks?

Whilst these industries are at an increased risk, there are things employers and employees can do to reduce the risk of phishing attacks:

• Staff Training: Educate employees on recognizing phishing attempts and click fraud and verifying links before clicking.
• Email Filtering: Use advanced email-filtering tools like PowerDMARC to keep potential phishing emails out of employees’ inboxes.
• Multi-Factor Authentication (MFA): Enforce MFA for access to sensitive systems to provide an additional layer of security.
• Regular Updates: Keep software and systems up to date to defend against phishing and click fraud attacks. 
• Monitor Traffic: Use analytics to detect unusual traffic patterns that may indicate phishing-induced click fraud.
• Implement a Robust DSPM Framework: This framework can mitigate data risks, ensure compliance, minimize attack surfaces, and protect valuable data.

Stay Vigilant, Stay Safe

Phishing remains an evolving and sophisticated cybersecurity threat that affects a whole range of industries. Businesses large and small need to stay vigilant to protect themselves and their customers from these attacks. 

Emerging tactics, such as integrating phishing attacks with click fraud, continue to push organizations to stay one step ahead of cybercriminals. But by staying informed and proactive, businesses can safeguard their operations, protect their customers, and preserve their reputation in an increasingly digital world.