INTRODUCTION:

Cybersecurity researchers discovered a spear phishing attempt that was aimed at several businesses. Scammers were using WhatsApp to send messages to IT professionals while posing as the CEOs of the targeted companies.

The investigation “uncovered lead generation and business information tools being misused by these scammers to extract personal phone numbers.”

The scammers sent numerous messages stressing the significance of this action and asking when the request will be fulfilled. This “phishing” fraud uses texts to trick potential victims into providing information or clicking on a link, much as the “phishing” scams used with email, according to the research.

In some situations, the con artist may persuade staff members to submit private information (such PINs and passwords) to unaffiliated parties, frequently giving a convincing justification for the request.

WhatsApp users have experienced a deluge of unanswered voice and video calls from various country codes. The criminals’ most recent phishing attempts have left the Indian telecom industry struggling to deal with an ever-increasing threat.

A potential drawback is that fraudsters are increasingly using WhatsApp as a favourite tactic because of its popularity. Currently, this is the subject of around a thousand reports per month to the Fraud Help Desk. Prior to now, WhatsApp phishing techniques had a simpler design and were therefore easy to detect. However, as of 2019, a more sophisticated technique has taken hold, with the phishers hijacking your account. This greatly enhanced the likelihood that these phishing attacks would succeed.

There are a number of causes of WhatsApp phishing, including:

• The use of WhatsApp: With over 2 billion active users, WhatsApp is the most widely used messaging service in the world. Due to a vast pool of potential victims, this makes it a prime target for fraudsters.
• Opening a WhatsApp account is quite simple: How simple it is to open a WhatsApp account. Even without a phone number, opening a WhatsApp account is quite simple. Due to this, it is simple for scammers to set up fictitious accounts and pass as authentic users.
• Utilizing connections: Sending links to victims is a common tactic used in WhatsApp phishing attacks. These links may take you to malicious sites that steal personal data or spread malware on your computer.
• The lack of security awareness: Many people are not aware of the risks of WhatsApp phishing. This makes them more likely to fall victim to scams.

 

Phishing on WhatsApp can have adverse impacts on people and businesses alike. Attackers can get login passwords, financial information, and other valuable data by fooling users into disclosing personal information or downloading malware. If the attack is successful, this could result in identity theft, financial loss, and even harm to a company’s reputation.

It is crucial that people and companies understand the hazards and take precautions to protect themselves as a result.

The following are some typical effects of WhatsApp phishing attacks:

• Loss of sensitive information: If a user’s login credentials, credit card information, or other sensitive data is obtained by trickery, the attacker may be able to take it and use it for their own gain.
• Malware download and installation: WhatsApp phishing attempts may also deceive users into installing malware on their devices. By doing so, the attacker may be able to access the device and maybe steal more private data or use it to carry out more assaults.
• Loss of trust: WhatsApp phishing attacks can damage trust in the platform and lead users to lose confidence in the security of their communications.
• Financial losses: In some cases, WhatsApp phishing attacks may result in direct financial losses, such as the theft of money from bank accounts or the unauthorized use of credit cards.

 

REMEDIATIONS:

It is important to take steps to protect yourself and your organization. Some tips for staying safe include:

• Be cautious of unexpected messages: If you receive a message from an unfamiliar sender or one that seems suspicious, do not click any links or download any attachments.
• Verify the sender: If you receive a message from a trusted contact or authority figure, confirm their identity before taking any action. You can do this by reaching out to them through a separate, secure channel.
• Be cautious with links: If you receive a message containing a link, hover over the link (but do not click it) to see where it will take you. If the link seems suspicious, do not click it.
• Keep your software and security measures up to date :Make sure that your devices and software are up to date with the latest security patches and updates. This can help prevent malware from being installed on your device.

The above-mentioned procedures are common but effective practices that everyone should follow. However, the threat persists, and every organization must employ a cybersecurity awareness program to ensure technical training and build a strong cybersecurity framework