Email spoofing meaning demystified
Email spoofing is a type of cyber attack in which a bad actor sends an email that appears to be from a legitimate source but is actually a fraudulent attempt to gain access to sensitive information or steal money. Understanding the basics of email spoofing can help you to protect yourself and your organisation from this type of attack.
One of the key things to understand about email spoofing is that it is often used in phishing scams. Phishing scams are attempts to trick individuals into providing sensitive information or money by posing as a legitimate organisation or individual. These scams can take many forms, from emails that ask for personal information to phone calls that ask for credit card numbers.
Another common tactic used in email spoofing is to include malware in the email. The malware might be a virus, a Trojan, or some other type of malicious software. The goal is to infect the recipient’s computer.
The objective or purpose behind email spoofing
The goal of email spoofing is to trick the recipient into opening the email, clicking on a link, or providing sensitive information.
The first step in email spoofing is to alter the “From” field in the email header. This field typically contains the email address that the email appears to be coming from. By changing this field, a bad actor can make the email appear to be coming from a different source. For example, they might change the “From” field to show that the email is coming from a bank or other financial institution when in fact, it is coming from a different email address used to bait victims.
The email spoofed to appear as if it is coming from a bank and might ask the recipient to click on a link to update their account information. If the recipient clicks on the link, they might be taken to a website that looks like the bank’s website but is actually controlled by the bad actor. The website might ask the recipient to enter their account information, including their username and password. This information can then be used by the bad actor to steal money from the account or to commit other types of fraud.
Frightening statistics on email spoofing
On May 20, 2020, the Singapore Police Force issued a warning to the public and organisations to be vigilant against email spoofing activities that imitate legitimate businesses. In the first quarter of 2020 alone, there have been over 100 reports of such scams, resulting in a total loss of S$9,200,000. This is a significant increase compared to the same period in 2019, where cases have increased by 30% and caused damages of S$12,800,000.
One of the main themes in these email spoofing cases is the impersonation of legitimate organisations, particularly the business partners of the victims. The bad actors, pretending to be the victims’ business partners, request for funds to be transferred to a new bank account. This is a tactic used to trick victims into transferring money to the wrong account, and it can cause significant financial losses for the victims.
Another common tactic used by bad actors is to request employees to purchase iTunes or Google Play cards and send them redemption codes after paying for the stored value cards. This type of scam is often used to steal money from victims by tricking them into paying for something that they do not actually receive.
Ways to protect your organisation from email spoofing
It is important to be vigilant and cautious when receiving emails from unknown or suspicious sources, especially if they are requesting personal information or money transfers. With this in mind, the following are the best practices that organisations can apply to combat email spoofing.
- Be cautious when receiving emails from unknown or suspicious sources.
- Be wary of emails that ask for personal information or login credentials.
- Don’t click on links in emails unless you are certain they are legitimate.
- Verify the sender’s email address and check for spelling mistakes.
- Use anti-spam and anti-virus software to protect your inbox.
- Keep your operating system and software up-to-date to reduce the risk of malware.
- Educate yourself and your employees about the dangers of email spoofing and how to spot it.
- Use email authentication protocols such as SPF, DKIM, and DMARC to validate the authenticity of the emails.
- Use two-factor authentication to login into your important accounts.
- Be aware of phishing attempts, many times, email spoofing is used in Phishing scams, and it is important to be aware of the signs of phishing attempts.
Email spoofing is a serious cyber threat that can cause significant financial losses for organisations. By being vigilant and taking steps to protect yourself and your organisation, you can greatly reduce the risk of falling victim to email spoofing attacks. It is important to educate yourself, and your employees and to use the tools and protocols that are available to protect your organisation from email spoofing and other cyber threats.
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