The Rising Toll of Phishing Undermines Trust in Banking

 The Rising Toll of Phishing Undermines Trust in Banking

Nothing captures a consumer’s attention more than an urgent email from their bank warning them that their account has had a security breach. And that’s really the problem.

Scam emails used to be obvious and easy to identify. But in recent years, they have become so sophisticated and believable that even trained cybersecurity professionals can’t always identify what is or isn’t real. In many cases, criminals are now using security alerts and emails that look exactly like those sent from banks to capture customers’ login information.

Ever resourceful and innovative, criminals were quick to capitalize on rapid growth in digital banking during the pandemic, as consumers became more accustomed to dealing remotely with financial institutions. The threat not only undermines consumer confidence but complicates the job of communicating with customers.

Big Spike in Phony…

Read full article…thefinancialbrand.com