In recent times, an increasingly deliberate attempt has been witnessed towards social engineered scams, commonly known as “Phishing.” It is a sort of cyber-attack that baits people into revealing their sensitive information through deceitful emails, messages, or websites. With the proliferation of cybercrime, it is crucial for companies to put in place effective measures to safeguard their customers and themselves from these attacks. One of the effective measures adopted by companies like One Click Verify is the use of Anti-Phishing Codes. The use of an Anti-Phishing Code can enhance the reputation of your business, as it shows customers that the security of their sensitive information is vital and a top priority. Moreover, it helps to build customer loyalty and trust.
By using an Anti-Phishing Code, companies can safeguard their customers and themselves from phishing attacks. When customers receive a message requesting their sensitive information, they will see their unique Anti-Phishing Code to verify the message’s authenticity. This complicates the task of hackers who try to gain access to sensitive information, as they would have to know the Anti-Phishing Code to start the social engineering attacks. The cost of not implementing Anti-Phishing Codes can be in the tens of millions for customers of large companies. Moreover, the economy incurs a substantial loss due to these social engineering attacks, with billions of dollars lost to the Australian economy each year, and unfortunately, most of the proceeds from these attacks go overseas instead of being reinvested into our economy.
Using an Anti-Phishing Code is straightforward to setup, and companies can adopt this measure promptly. Companies should then include the Anti-Phishing Code in their correspondence with customers, such as in emails or texts. Customers can subsequently use the Anti-Phishing Code to validate the messages that ask for their sensitive information. Companies should encourage customers to keep their Anti-Phishing Code secure and not share it with anyone. They must also urge customers to change the code if they believe someone has intercepted it.
In conclusion, the use of Anti-Phishing Codes is an effective and necessary measure for protecting businesses and customers from phishing attacks. Companies can adopt this measure to protect the sensitive information of their customers and enhance their reputation. In today’s digital era, it is essential for companies to take security seriously, and Anti-Phishing Codes are one way to achieve that. We have provided an example for Anti-Phishing Code that you can utilise in your systems that communicate with customers to ensure the security of your business and customers.
Whilst the following code will work for most systems, some will require the code tweaked, but you can copy and paste the below sequence diagram in chatGPT yourself and get the code in whatever language you require for your specific system.
@startuml
participant Business
participant Customer
Customer->>Business: Create Anti-Phishing Code
Business->>Customer: Send Correspondence with Anti-Phishing Code
@enduml
Keep an eye out for Nathan’s next article – an overview of the 300+ pages of the Privacy Act released yesterday! #comingsoon