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The damage caused by phishing does not only apply to monetary property alone. The fragile bonds of trust that organizations build with their constituents are shattered in the process. As people loss faith in the reliability of electronic communication methods, companies loss their customer base. In the case disasters, people can spend billions in preparation, to analyze weaknesses and improve recovery time, only to have thrust shattered by phishing attacks. This in turn causes a significant loss in money, resources and time. In this study we review the main characteristics of phishing attacks and their impact to society. Based on current trends, we predict an increase in frequency and precision of these attacks and suggest best practices for both user and business education such that the impact is minimized.



Published Citation

Ragucci, J. W., & Robila, S. A. (2006, June). Societal aspects of phishing. In 2006 IEEE International Symposium on Technology and Society (pp. 1-5). IEEE.