Understanding Online Threats: Phishing

The introduction of BiMPay, the Central Bank of Barbados’ national instant payment system, marks a significant step forward in how Barbadians move money, enabling real-time payments with immediate settlement no matter which financial institution they use, or even if they don’t bank with one at all. 

With so much of our time spent online, from shopping to bill payments, protecting our digital information has never been more important. The convenience of online financial transactions brings enormous benefits, but it also requires awareness and smart online habits. While cyber threats do exist, practising safe online behaviour significantly reduces your risk. 

We reached out to Anthony Harris, President of the Information Systems Security Association (ISSA) Barbados Chapter, for information about online threats and how we can protect ourselves from them.

What is phishing?

It's a scam where tricksters pretend to be trustworthy to steal your personal information, often through fake emails.

What is the goal of a phishing attack?

The main goal of a phishing attack is to trick you into revealing sensitive information, like your passwords, credit card numbers, or other personal data. Once they have this information, the attackers can use it for various malicious purposes, such as stealing your money, gaining unauthorised access to your accounts, or even committing identity theft. They're essentially trying to get you to hand over the keys to your digital life.

What are the most common types of phishing attacks?

The most common types are emails that look real but are fake, text messages pretending to be from trusted sources, and fake websites that ask for your information. All of these try to trick you into giving away personal details.

What are some of the indicators of a phishing attack?

Watch for things like strange requests for your information, odd email addresses, generic greetings, urgent messages, bad grammar, links that don’t match, or surprise attachments. But keep in mind, with AI making scams more convincing, these signs aren’t always as obvious as they used to be. If something feels off, trust your gut.

What should I do if I am targeted?

If you think you’re being targeted, don’t click any links or give out your information. Delete the message, and if it looks like it’s from a company you use, contact them directly through their official website or phone number to check. If you did click or share information, change your passwords right away and let your bank know.

What should I do if I believe I have fallen victim to a phishing attack?

If you think you’ve fallen for a phishing scam, change your passwords right away, especially for any accounts that might be affected. Let your bank or credit card company know if you shared financial information. Keep an eye on your accounts for any unusual activity and report the scam to the company or service that was impersonated.