What Is Phishing and How Can You Protect Yourself?
Most of us receive dozens of emails, texts, and notifications every day. While many are legitimate, some are designed to do something much more harmful: steal your personal information.
Phishing is one of the most common types of online fraud. It happens when scammers pretend to be a trusted organization, company, or person to trick you into sharing sensitive information such as passwords, banking details, or credit card numbers.
These scams have become increasingly sophisticated, making them harder to spot than ever.
According to the Fig Financial Barometer, 68% of Canadians say they are concerned about financial fraud when using online or digital financial services. As more Canadians manage their finances online, understanding how phishing works is an important part of protecting yourself.
What Is Phishing?
Phishing is a type of scam where fraudsters use fake communications to trick people into revealing personal or financial information.
These messages often appear to come from trusted sources such as:
Banks and credit card providers
Government agencies
Delivery companies
Online retailers
Technology providers
Employers
The goal is usually to get you to click a link, open an attachment, download software, or enter sensitive information into a fake website.
At first glance, phishing messages can look legitimate. They may include company logos, familiar branding, and even realistic-looking email addresses or caller ID.
How Does Phishing Work?
Most phishing attempts follow a similar pattern.
Contact: The scammer reaches you by email, text message, phone call, social media, or messaging apps.
Pressure: The message creates urgency by claiming something is wrong or time-sensitive.
Action: You’re pushed to click a link, open a file, scan a QR code, or share information.
Capture: The scammer collects login details, verification codes, payment info, or installs malicious software.
Phishing messages often claim:
Your account has been compromised
A payment has failed
A package could not be delivered
Suspicious activity has been detected
Immediate action is required
Common Types of Phishing Scams
Email Phishing
This is the most common form of phishing. Scammers send emails that appear to come from legitimate organizations and encourage you to click a link or download an attachment.
Text Message Phishing (Smishing)
These scams arrive through text messages and often claim there is an issue with a package delivery, bank account, or online order.
Phone Phishing (Vishing)
Fraudsters call pretending to represent a bank, government agency, or technology company and request personal information over the phone.
Spear Phishing
Unlike mass phishing campaigns, spear phishing targets specific individuals using information gathered from social media, public records, or previous data breaches. Because the message feels personal, it can be harder to recognize.
Clone Phishing
In clone phishing, a scammer copies a legitimate email (for example, a delivery update or invoice) and replaces the link or attachment with a malicious one.
QR Code Phishing (Quishing)
Some scams use QR codes in emails, posters, or mailers to send you to a fake website. Because you can’t easily see the URL behind a QR code, it’s easier to be misdirected.
Warning Signs to Watch For
While phishing scams continue to evolve, many still share common red flags. Be cautious if a message:
Creates a sense of urgency, fear, or panic
Requests passwords, PINs, or verification codes
Contains unexpected links, QR codes, or attachments
Comes from an unfamiliar sender or a look-alike domain
Uses generic greetings (for example, “Dear customer”)
Contains spelling, formatting, or grammatical mistakes
Asks you to “confirm” personal or financial information
If something feels unusual, it’s worth taking a few extra minutes to verify the request.
How Can Phishing Affect You?
A successful phishing attack can have serious consequences. Victims may experience:
Financial losses
Identity theft
Unauthorized account access
Credit fraud
Loss of personal information
In some cases, recovering from identity theft or account compromise can take months and require significant effort.
How to Protect Yourself from Phishing
The good news is that a few simple habits can significantly reduce your risk.
Verify Before You Click
If you receive an unexpected message, avoid clicking links immediately. Instead, visit the organization’s website directly by typing the address into your browser, or use the official app.
Check the Sender Carefully
Look closely at email addresses, domains, and usernames. Scammers often use small changes (for example, extra letters or swapped characters) to mimic legitimate senders.
Use Strong, Unique Passwords
Create unique passwords for important accounts and avoid reusing the same password across multiple platforms. A password manager can help.
Enable Two-Factor Authentication
Two-factor authentication adds an extra layer of security by requiring a second verification step when logging in.
The Fig Financial Barometer found that many Canadians use two-factor authentication as one of their primary tools for protecting themselves against financial fraud.
Be Skeptical of Urgent Requests
Scammers often rely on fear and urgency to encourage quick decisions. Taking a moment to pause and verify information can help prevent costly mistakes.
Keep Devices Updated
Turn on automatic updates for your phone, computer, browser, and apps. Security updates help protect you from known vulnerabilities that scammers may exploit.
Monitor Your Accounts
Review your banking and credit card statements regularly for unfamiliar activity and report suspicious transactions immediately.
What Should You Do If You Think You’ve Been Phished?
If you believe you clicked a phishing link, downloaded an attachment, or shared information with a scammer:
Change your passwords immediately (start with email and banking). If you reuse passwords, change those accounts too.
Enable or update two-factor authentication and never share verification codes with anyone.
Contact your financial institution if you shared banking details, sent money, or suspect unauthorized transactions.
Monitor your accounts for suspicious activity and consider checking your credit report if sensitive information was exposed.
Report the incident to the Canadian Anti-Fraud Centre.
The sooner you act, the better your chances of limiting potential damage.
Final Thoughts
Phishing scams are designed to look trustworthy, which is what makes them effective. Whether the message appears to come from your bank, a delivery company, or a government agency, taking the time to verify before you click can help protect your personal information and finances.
A simple habit—pause, verify, and then act—can go a long way toward keeping your accounts and information secure.
FAQs
Question: What are the most common types of phishing?
Short answer: Common types include email phishing, text-message phishing (smishing), phone phishing (vishing), spear phishing (targeted), clone phishing (copied messages with malicious links), and QR code phishing (quishing).
Question: How can I tell if a message is phishing?
Short answer: Watch for urgency, unexpected links or attachments, requests for passwords or verification codes, unfamiliar senders or look-alike domains, and messages pushing you to act immediately without verifying.
Question: What should I do if I clicked a phishing link?
Short answer: Change passwords right away (starting with email), enable two-factor authentication, contact your financial institution if needed, monitor accounts for suspicious activity, and report the incident to the Canadian Anti-Fraud Centre.
Question: What information should never be shared through email?
Short answer: Never share:
Passwords
MFA codes
Banking information
Social Insurance/Social Security numbers
Sensitive company information unless approved and encrypted
DISCLAIMER: This article is for informational purposes only and is not intended as legal or financial advice.
