Phishing Attacks – The Biggest Cyber Threat to Businesses

Brought to you by National PC, this podcast provides practical insights, expert advice, and actionable tips to help businesses safeguard their data and protect themselves from cyber criminals.

Today, we’re diving into one of the most common—and most dangerous—cyber threats facing businesses in Townsville: phishing attacks. Let’s get started.

WHY PHISHING IS THE #1 CYBER THREAT
Hi everyone, and welcome back to Cyber Security Townsville! I’m Leigh Kefford, and today, we’re taking a deep dive into a cyber threat that’s responsible for 90% of all data breaches worldwide—phishing attacks.

If you’ve ever received a suspicious email asking you to click a link or enter your password, you’ve likely been the target of a phishing attack. But here’s the thing: phishing isn’t just about poorly written emails from a ‘Nigerian prince’ anymore. Cyber criminals have become incredibly sophisticated. Their emails look legitimate, their websites look real, and even experienced professionals are falling for these scams.

And that’s exactly why phishing is the #1 cyber threat to businesses in Townsville and across Australia. Small and medium-sized businesses are often targeted because attackers know that many don’t have the resources or expertise to detect and prevent these attacks.

So, in this episode, we’re going to cover:
✅ How phishing works and why it’s so effective.
✅ The different types of phishing attacks you need to watch out for.
✅ Real-world phishing scams that have targeted businesses—including right here in Townsville.
✅ And most importantly—how to protect your business from falling victim.

WHAT IS PHISHING & WHY IS IT SO EFFECTIVE?
Let’s start with the basics. What exactly is phishing?

Phishing is a type of cyber attack where criminals try to trick you into revealing sensitive information, such as your login credentials, bank details, or personal data. It usually happens through email, but phishing can also occur via text messages, phone calls, and even social media messages.

So, why is phishing so effective? There are a few key reasons:

It preys on trust: Phishing emails often appear to come from a trusted source, like a bank, supplier, or even someone within your own company.
It creates urgency: Many phishing emails create a sense of urgency—claiming your account will be locked or your payment is overdue—so you’re more likely to act without thinking.
It’s highly targeted: Modern phishing attacks aren’t random. Cyber criminals research their targets and personalize their messages to make them more convincing.
And here’s the scariest part: even the most experienced, tech-savvy professionals can fall for a well-executed phishing attack. In fact, studies show that 1 in 3 employees will click on a phishing link, even if they’ve been trained to recognise them.”

TYPES OF PHISHING ATTACKS
Phishing comes in many forms, and it’s important to understand the different types so you can recognise and respond to them effectively.

1. Email Phishing – The Classic Scam
This is the most common type of phishing attack. The attacker sends an email that appears to be from a legitimate organization, such as a bank or online service, asking you to click a link or download an attachment. The goal is to steal your login credentials or infect your device with malware.

2. Spear Phishing – Targeted and Personal
Unlike generic email phishing, spear phishing attacks are highly targeted and personalized. The attacker researches their target and crafts a message that is specific to their job, company, or industry.

For example, an attacker might know that you’re an accountant and send an email that appears to be from the ATO, asking you to review a tax document.

3. Business Email Compromise (BEC)
This is one of the most dangerous types of phishing attacks for businesses. The attacker gains access to a real employee’s email account and uses it to send fraudulent emails to colleagues, clients, or suppliers.

These emails often contain fake payment requests, leading to massive financial losses. In fact, a Townsville-based business recently lost over $50,000 due to a BEC attack where the attacker impersonated the company’s CEO and requested a payment transfer.

4. Smishing and Vishing
Smishing: Phishing via text messages. Attackers impersonate banks, government agencies, or delivery companies and ask you to click a link or provide personal information.
Vishing: Phishing via phone calls. The attacker pretends to be from IT support, a bank, or another trusted organization and tries to get you to reveal sensitive information.
5. Social Media Phishing
Cyber criminals are now using social media platforms like LinkedIn and Facebook to target individuals. They create fake profiles, send friend requests, and then send phishing messages once trust is established.

REAL-WORLD EXAMPLES OF PHISHING SCAMS
Phishing attacks aren’t just something that happens overseas—they’re happening right here in Townsville. Here are two real-world examples.

Example 1: The Fake Invoice Scam
A local construction company received an email from a supplier requesting payment for an overdue invoice. The email looked legitimate, complete with the supplier’s logo and contact details. The company paid the invoice, only to discover later that the supplier’s email had been hacked and the payment went to the attacker’s account.

Example 2: The Microsoft 365 Phishing Attack
A healthcare clinic in Queensland received an email from ‘Microsoft Support’ claiming that their account had been compromised. The email included a link to a fake Microsoft login page, where an employee unknowingly entered their credentials. The attacker gained access to the clinic’s email system and used it to send phishing emails to patients and staff.

HOW TO PROTECT YOUR BUSINESS FROM PHISHING
So, how can you protect your business from phishing attacks? Here are five key steps.

1. Train Your Employees
Your employees are your first line of defence against phishing attacks. Regular cyber security awareness training is essential to help them recognise phishing emails and know how to respond.

2. Verify Requests for Payments
If you receive an email requesting a payment transfer or a change in bank details, always verify the request by calling the sender directly. Never rely solely on the information in the email.

3. Enable Multi-Factor Authentication (MFA)
MFA adds an extra layer of security by requiring a second form of verification, such as a mobile code, before logging into accounts. Even if a hacker steals your password, they won’t be able to access your accounts.

4. Implement Advanced Email Security
Use spam filters, email authentication protocols (SPF, DKIM, and DMARC), and AI-driven phishing protection tools to block phishing emails before they reach your employees.

5. Get an Empower Systems Assessment
At National PC, we help businesses identify their vulnerabilities and implement proactive cyber security strategies. The Empower Systems Assessment provides a detailed analysis of your risks and a clear action plan to protect your business.

That’s it for today’s episode of Cyber Security Townsville.

📌 Protect your business today—get a free Empower Systems Assessment at nationalpc.com.au.

📌 Listen to my audiobook, Sitting Duck – The Phone Call You Don’t Want to Receive, a real-world story about a phishing scam that destroyed a business—available on Spotify and all major audiobook platforms.

📌 Subscribe to this podcast so you never miss an episode. Next time, we’ll be talking about ransomware attacks—how they work, why they’re so devastating, and how to prevent them.

📌 For daily cyber security insights, check out Don’t Be A Sitting Duck Podcast.

Until next time, stay safe, stay proactive, and remember—cyber security isn’t just an IT issue; it’s a business priority.