Phishing is a cybercrime in which a target or targets are contacted by email, telephone or text message by someone posing as a legitimate institution to lure individuals into providing sensitive data such as personally identifiable information, banking and credit card details, and passwords.
The information is then used to access important accounts and can result in identity theft and financial loss.
The first phishing lawsuit was filed in 2004 against a Californian teenager who created the imitation of the website “America Online”. With this fake website, he was able to gain sensitive information from users and access their credit card details to withdraw money from their accounts. Other than email and website phishing, there’s also ‘vishing’ (voice phishing), ‘smishing’ (SMS Phishing) and several other phishing techniques cybercriminals are constantly coming up with.