Technological innovations over the years have paved the way for business houses to interact with their partners, vendors and consumers on a larger plane- the World Wide Web. E-commerce, web portals and social-networking sites have given opportunities to the new-age enterprises to be well connected. The wide use of the internet has not only provided a marketplace for the business and consumers to build up communication and relationships but have also opened up avenues for cyber crime, phishing attacks, Trojans and computer virus.Recent studies by researchers and anti-phishing groups have shown an alarming increase in the number of phishing attacks. The emergence of social networking sites and its wide use have led to phishing, a kind of social engineering attack. Initiated by cyber criminals phishing attack is an attempt to rob the customer’s personal identity information and other critical data to be used for malicious purposes. Acquiring sensitive information is via the electronic communication mode, through social engineering and duplicate emails wherein customers are directed to fraudulent websites. Further, launching such attacks through personal computers, workstations and corporate network, the fraudsters and cyber criminals tend to drain the corporates and business houses of their vital information.Though technology has provided enterprises with firewalls and encryption software certificates and other authentication mechanisms to be deployed, phishing attacks tend to dodge these security measures and get to steal intellectual property and vital corporate data pertaining to business dealings, sales and marketing strategies and customer details. This leads to loss of data security and brand erosion. However, besides these losses, phishing attacks also lead to corruption of the entire computing system or device which further affects the productivity levels in a networked environment.Organization thus needs to take steps to ensure protection from phishing attacks. Though a number of enterprises have forayed into developing anti-phishing tools and software to combat phishing attacks and loss of revenue, most of the generic tools tend to address the issues superficially. Enterprises in a global environment need to deploy effective, innovative and scalable phishing protection solutions that would ensure greater security. Thought leaders in software development have worked out phishing protection solutions for the enterprises; the protective mechanism also needs to safeguard the individual employees too. The cyber criminals target the unsuspecting users and employees to extract the business critical information and sensitive personal details.An effective diagnostic solution will help enterprises to protect their people which in turn will help to protect the process and the enterprise as a whole. Increasing phishing awareness among the employees, consumers, vendors and partners is a first line of defense against phishing attacks in the long run. Educating the employees and individuals about the methods of phishing attacks is a scalable method which can sustain over any new attack techniques.
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