“Your password has expired. If you do not update it immediately, your account will be restricted.”
Have you ever received an email like this? At first glance, it appears to be from a corporate security team, but in reality, it is a classic phishing scam. The moment you open the email and click the link, your login information falls into the hands of hackers.
The problem is that these phishing attacks are becoming increasingly sophisticated, targeting not just individual users but also businesses and public institutions. So, how exactly do phishing scams operate, and how should we respond?
Phishing Scams: Attacks That Exploit Trust
In April 2024, an accounting firm was exploited as a phishing attack intermediary. The attacker first hijacked the firm’s email account and then sent seemingly legitimate tax invoice emails to existing clients. However, a few hours later, a phishing email appeared to be sent from the same sender, this time containing a malicious file. When recipients unsuspectingly opened the file, malware was installed on their system, leading to the leakage of internal documents and financial information.
This incident underscores the fact that hackers do not just send fake emails—they exploit already trusted email accounts to conduct more sophisticated attacks. This means that simply checking the email domain is not enough to prevent such attacks.
In December 2024, a large-scale phishing attack targeted the domestic financial sector. The attackers sent mass emails containing messages such as “Account information update required” or “Password reset needed for security enhancement.” When users clicked the links in these emails, they were redirected to fake login pages that closely resembled actual financial institution websites. The moment users entered their credentials, their account information was transmitted in real-time to hackers, leading to illegal financial transactions.
Some companies also experienced attempts to access internal systems using stolen employee accounts. Fortunately, security teams responded quickly to prevent further damage, but this incident served as a crucial reminder of the necessity of corporate-level security awareness. Furthermore, attackers didn’t just create fake login pages; they went as far as designing counterfeit websites that perfectly mimicked the victim’s company to deceive employees.
Phishing attacks impersonating government agencies are also on the rise. In early 2024, employees of a public institution received emails from a sender that appeared to be an official government address, requesting the “urgent download of a document.” Many employees, without suspicion, downloaded the document and entered their login credentials, allowing attackers to infiltrate the institution’s internal systems. As a result, confidential documents were leaked, and similar attacks continued to occur.
Additionally, phishing attackers have been impersonating major corporations. For instance, emails were sent in the name of global IT companies or financial institutions, requesting employees to review fake payment requests or contract documents. These attacks are particularly dangerous as they replicate official corporate email formats almost perfectly.
Key Characteristics of Phishing Scams and Prevention Methods
Phishing emails typically emphasize urgency, pressuring users to act quickly. A common phrase is: “If you do not take immediate action, your account will be suspended.” This is designed to make users panic and click on links without thinking. However, legitimate companies and financial institutions do not request password changes in this manner. If an email creates a sense of extreme urgency, it is worth double-checking its authenticity.
Before clicking on any links in an email, always check the URL. Hovering over the link will reveal the actual destination address—if it differs from the official organization’s website, it is likely a phishing attempt. Additionally, carefully verify the sender’s email address, as it may appear legitimate but have slight variations in the domain name.
Enabling two-factor authentication (2FA) is another effective preventive measure. Even if your password is compromised, attackers will not be able to pass the additional verification step. At the corporate level, regular security training and phishing email simulations can help employees develop the ability to recognize and respond to phishing attempts.
What to Do If You Receive a Phishing Email?
If you encounter a phishing email, report it immediately to your company’s IT security team or the Korea Internet & Security Agency (KISA). Additionally, sharing the information with colleagues can help prevent further damage.
Phishing attacks are becoming increasingly sophisticated, targeting not only individuals but also businesses and public institutions. The key is to abandon the mindset of “I won’t fall for it.” Security starts with individual awareness. A single mistake can put an entire company at risk—always remember this fact.
