There are two main types of online fraud aimed at stealing user data and money: phishing and scams. Phishers primarily seek to extract confidential information from victims, such as credentials or bank card details, while scammers deploy social engineering to persuade targets to transfer money on their own accord.
The history of scams and phishing
The term “phishing” was coined back in 1996, when cybercriminals attacked users of America Online (AOL), the largest internet provider at that time. Posing as AOL employees, the scammers sent messages asking users to verify their accounts or asking for payment details. This method of phishing for personal data is still in use today, because, unfortunately, it continues to yield results.
