Google has warned businesses about a growing cyberattack where hackers use phone calls to trick employees into sharing passwords and security codes.
The attacks are mainly targeting financial and investment companies in the United States.
Instead of using complicated hacking methods, attackers often rely on a simple trick.
They pretend to be IT staff, colleagues, or someone the employee already trusts.
During the call, they may ask employees to open a fake website and enter their username, password, or multi-factor authentication code.
This type of scam is known as voice phishing, or “vishing.” Once attackers get these details, they may use them to enter company systems and access sensitive information.
In some cases, the goal goes beyond gaining access.
Attackers may steal confidential business data and then demand a ransom, threatening to release the information if the company does not pay.
The stolen information can include business records, software code, intellectual property, and sensitive client details.
Financial firms are valuable targets because they often deal with confidential information related to investments, mergers, acquisitions, and other major transactions.
Google says ransom demands from some attackers can range from $750,000 to $3 million. Similar attacks have also affected industries such as healthcare, insurance, manufacturing, technology, transportation, and hospitality.
Companies can lower the risk by training employees to be careful with unexpected calls about account access or security issues.
Employees should never share passwords or authentication codes through links sent during suspicious calls.
Companies should also have clear procedures for checking whether a caller is really from their IT or support team.
The warning from Google is a good reminder that cyberattacks do not always need advanced technology. Sometimes, gaining a person's trust is enough.
For financial companies, employee awareness and proper verification can be just as important as having strong cybersecurity tools.
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https://wikiglitz.co/blog/cyber-security/phone-based-hacking-attacks-financial-firms/
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