Cybercriminals aren't just sending generic spam emails anymore. They're getting personal - researching your business, learning your leadership team's names, and crafting messages that look exactly like they came from someone you trust. This kind of attack is called spear phishing, and it's one of the fastest-growing cyber threats facing small and midsize businesses.

Unlike traditional phishing scams that cast a wide net, spear phishing goes after specific individuals - often employees with access to payroll systems, financial accounts, or sensitive data. And when it works, the consequences can be expensive, embarrassing, and sometimes impossible to reverse.

What Is Spear Phishing?

Spear phishing is a targeted cyberattack where scammers pose as someone you know - like your boss, banker, accountant, or vendor - to trick you into sharing private information or sending money.

Here's how they make it convincing:

  • They research your company's website, LinkedIn profiles, or social media posts.

  • They mimic email addresses or phone numbers that look nearly identical to real ones.

  • They reference real meetings, projects, or names to make the message feel authentic.

Because the message feels personal, it bypasses suspicion - and that's what makes it so dangerous.

How These Scams Play Out

Example 1: The "CEO Request"
Sarah, a marketing manager, receives an email from her CEO asking for urgent access to a confidential report. The email mentions a recent board meeting and includes a link to "upload the file." Eager to help, Sarah clicks the link—only to find out later it led to a fake login page. Her credentials are stolen, giving the attacker access to the company's internal systems.

Example 2: The "Urgent Payment"
Bob, an accountant at a small business, gets a text message that looks like it's from his boss. The message says the boss is traveling and needs Bob to wire funds immediately to secure a major contract. It even includes a believable vendor name and account number. Bob follows the instructions, only to discover later that the message was spoofed and the funds were gone for good.

How to Protect Your Business

Preventing spear phishing isn't about fancy tech alone - it's about awareness, verification, and steady habits.

  • Double-check email addresses. Scammers often use minor variations (like ".co" instead of ".com") to fool you. Hover over the sender's name to confirm the true address.

  • Watch for urgency. Most scams rely on fear or pressure to get you to act fast. Take a breath and verify requests before responding.

  • Never share sensitive data by email. Don't send passwords, financial info, or confidential files unless you've confirmed the sender's identity.

  • Use anti-phishing and spam filters. Modern software can block or flag suspicious messages before they reach your inbox.

  • Educate your team. Hold short refreshers or send quick awareness reminders to help employees recognize red flags.

If You Think You've Been Scammed

If a phishing email or text slips through your defenses, acting fast can minimize the damage:

  • Change your passwords immediately. Update all accounts that may have been exposed - and enable multifactor authentication.

  • Report the incident. Notify your IT department or service provider, and report the scam to the Federal Trade Commission (FTC) at reportfraud.ftc.gov.

  • Monitor your accounts. Watch financial statements, credit reports, and internal systems for unusual activity.

  • Alert your team. If one person is targeted, others in your organization may be next.

Stay Alert. Stay Secure.

Cybercriminals may be getting smarter - but so can your business. By creating a culture of cybersecurity awareness and staying vigilant about suspicious messages, you can protect both your data and your reputation.

When you're ready to strengthen your business defenses - from smarter digital tools to secure financial solutions - i-bank is here to help.