Stay Alert! Walmart Emerges As The Most Phished Brand, Check Point Research Reports Increase In Financial Sector Targeting!

NEW DELHI: Walmart has become the most imitated brand in phishing attempts, accounting for 16% of all attacks globally in Q1 2023, according to Check Point Research’s latest Brand Phishing Report. The report also highlights a rise in attacks on the finance sector, with Bank Raiffeisen debuting on the list.

According to the report, multinational retail giant Walmart emerged as the most commonly impersonated brand, accounting for 16% of all phishing attempts globally, up from 13th place in Q4 2022. This was due to a significant phishing campaign urging victims to click on a malicious survey link related to the “supply system collapse.”

DHL and Microsoft took second and third place, appearing in 13% and 12% of phishing events, respectively. The technology sector was the most imitated industry, followed by shipping and retail.

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Finance Sector Under Attack

The report also highlighted how cybercriminals are increasingly targeting the finance sector to steal account details. Raiffeisen bank, a leading Austrian bank, appeared in the top eight spots of the report for the first time, accounting for 3.6% of phishing attacks last quarter. In the Raiffeisen phishing campaign, recipients were encouraged to click on a malicious link to ensure the security of their accounts against fraudulent activity. Once submitted, the details would be stolen by the attacker.

The Need for Knowledge

“Criminal groups orchestrate phishing campaigns to get as many people to part with their personal data as possible,” said Omer Dembinsky, Data Group Manager at Check Point Software.

“In some cases, attacks are designed to obtain account information, as seen with the Raiffeisen campaigns. Others are deployed to steal payment details, which we witnessed with popular streaming service Netflix. The best defense against phishing threats, as ever, is knowledge. Employees should be given appropriate training to spot suspicious traits such as misspelled domains, typos, incorrect dates, and other details that can expose a malicious email or link,” Dembinsky said.

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What is Brand Phishing?

In a brand phishing attack, cybercriminals try to imitate the official website of a well-known brand by using a similar domain name or URL and a web-page design that resembles the genuine site. The link to the fake website can be sent to targeted individuals by email or text message, a user can be redirected during web browsing, or it may be triggered from a fraudulent mobile application. The fake website often contains a form intended to steal users’ credentials, payment details, or other personal information.

Top Phishing Brands in Q1 2023

Below are the top brands ranked by their overall appearance in brand phishing attempts:

Walmart (16%)

DHL (13%)

Microsoft (12%)

LinkedIn (6%)

FedEx (4.9%)

Google (4.8%)

Netflix (4%)

Raiffeisen (3.6%)

PayPal (3.5%)

Examples of Phishing Scams

The report also provided examples of phishing scams, including a fraudulent email from Raiffeisen bank, which attempted to steal users’ account information and a Netflix phishing scam that aimed to steal payment details.

The report highlights the need for organizations to educate their employees on the risks of phishing and to take steps to protect against attacks. With cybercriminals constantly evolving their tactics, it is essential to stay vigilant and take proactive measures to safeguard personal and corporate data.

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