Phishing

AAA

DEFINITION of 'Phishing'

A method of identity theft carried out through the creation of a website that seems to represent a legitimate company. The visitors to the site, thinking they are buying something from a real business, submit their personal information to the site. The criminals then use the personal information for their own purposes, or sell the information to other criminal parties.

INVESTOPEDIA EXPLAINS 'Phishing'

A classic example of phishing is an identity thief setting up a website that looks like it belongs to a major bank. Then, that thief sends out many emails that claim to be from the major bank and request the email recipients to input their personal banking information (such as their PIN) into the website so the bank may update their records. Once the scammer gets a hold of the needed personal information, they attempt to access the victim's bank account.

RELATED TERMS
  1. Bait Record

    An internal control used in accounting to detect fraud and improper ...
  2. Smishing

    The use of SMS (short messaging services) technology to phish ...
  3. Identity Fraud Reimbursement Program

    A financial product that offers reimbursment for the costs associated ...
  4. Credit Report

    A detailed report of an individual's credit history prepared ...
  5. Identity Theft

    The crime of obtaining the personal or financial information ...
  6. Skimming

    An electronic method of capturing a victim's personal information ...
Related Articles
  1. Insurance

    Credit Scams To Watch Out For

  2. Economics

    Online Investment Scams Tutorial

  3. Insurance

    Identity Theft: How To Avoid It

  4. Taxes

    Avoiding Tax Scams

Hot Definitions
  1. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  2. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  3. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  4. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  5. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center