Phishing is the attempt by someone to “fish” for account details from unsuspecting people.
Phishing attempts have been around for a while now, starting in the late 1990s, looking for login details to the AOL service. Since then, the rise of the internet and most particularly the rise of internet banking has seen a proliferation in phishing attempts. Initially they were often poorly worded, contained spelling mistakes and poor grammar. Current phishing attempts usually arrive in the form of an unsolicited email that purports to be from a financial institution, your bank for example. These attempts are getting more and more sophisticated and are getting harder and harder to spot. Their aim is to direct you to a site that looks like the financial institution they claim to be and get you to enter your username/PIN and password.
How to detect the bait?
Eg: Please vist http://www.westpac.com.au to verify your details.
However, when you place your mouse over this link it shows up as http://www.y0rhax0red.com
How to protect yourself:
In the future, with the rise of VoIP telephony be prepared for phishing scams via the phone!!!!!