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Ever Heard of Phishing as a Service?

Hackers and scammers are always on the lookout for a way to turn a profit off the work of honest and hardworking businesses like yours. Unfortunately, the ingenuity of hackers knows no bounds, twisting the “as a service” business model into a dangerous form that has made the likes of Microsoft speak out against the practice. Find out about Phishing-as-a-Service, how it can impact your business, and what you can do to stop it.

What is Phishing-as-a-Service?

Phishing-as-a-Service (PhaaS) is a subscription-based service model that provides hackers with a one-stop shop to gain access to complex hacking tools used to carry out phishing attacks on individuals and businesses. These PhaaS enterprises provide two main forms of services:

  • À la carte tools to flesh out phishing kits, like site templates and email templates
  • Subscription-based PhaaS operations that generate and aid in the deployment of phishing schemes

The latter is the more concerning of the two, as evidenced by Microsoft and other large businesses speaking out about their operations. Essentially, more experienced hackers set up a campaign and do just about everything except actually engaging the phishing schemes; they often leave that to their clients.

How Can it Affect Your Business?

With a PhaaS campaign in place, the most serious barriers to entry for phishing schemes have disappeared. Increasing numbers of wannabe cybercriminals with startup money but lacking the required hardware, software, or skills now can take part in online scams.

What does that mean for your business?

Here are some global issues that can emerge:

  1. Phishing attacks will be easier to roll out and less costly, so they can come more frequently
  2. PhaaS allows more people to impersonate major brands
  3. More people can get involved in attacks and new approaches to phishing will emerge
  4. New generations of hackers will try to attack different niches
  5. More people will fall for scams than ever before

Modern phishing scams are going to look more legitimate than ever before. The emails, links, websites, and accompanying forms will look like the real thing, a symptom caused by sophisticated hackers selling their top-of-the-line tools to others.

The bottom line is that more people are going to fall for phishing scams because they won’t be expecting such frequent, high-quality attacks.

What Can You Do?

Sadly, the PhaaS operations are likely to become a staple of future phishing and ransomware attacks. That means it’s important to prepare your business to fend them off.

In this case, it’s best to fight fire with fire. You are most likely dealing with professionals, so your best bet is to call in the same. Experts in managed services can provide you with IT security by:

  • Assessing your company’s unique threats
  • Updating and bolstering your company’s IT security while considering your company’s unique needs
  • Providing a curriculum and providing security awareness training
  • Teaching your workers best practices to avoid phishing scams

An individualized, comprehensive approach to security is the best way to go about protecting your business from a PhaaS-based assault.

If you would like to get started safeguarding your business, then take the first step by contacting WheelHouse IT so they can address your concerns and establish a defense plan that protects your business. Remember, even small and medium-sized businesses are targets for hackers, so you must remain vigilant.

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