Phishing trends: Who is targeted and why
The business model of phishing has evolved. The bad guys have found ways to multiply their profits at the expense of organizations they aren’t even attacking directly, according to PhishLabs.
Based on attack volume, cloud storage nearly surpassed financial institutions as the most phished industry in 2016. If current trends continue, attacks targeting cloud storage providers will outpace all others in 2017. This is a monumental shift from historic trends that reflects a prominent expansion of how phishers profit. Not only does this shift impact those targeted by phishing attacks directly, it also impacts any organization that relies on email addresses and passwords to authenticate their users.
While the volume of attacks targeting financial institutions continues to grow, the volume of attacks targeting sites with massive user bases, such as cloud storage providers, has exploded. Phishers are targeting these sites in order to mass harvest email address/password pairs.