Final answer:
Phishing is an email scam designed to steal private information like passwords and account numbers. Identity theft can occur as a result, leading to unauthorized use of personal details to commit fraud. Using two-factor authentication, stronger passwords, and education about scams are key to protecting oneself.
Step-by-step explanation:
Phishing is a scam in which official-looking emails are sent to individuals in an attempt to get them to divulge private information such as passwords, usernames, and account numbers.
Hackers use a variety of methods to compromise security and obtain personal information. Phishing attacks exploit people's trust by masquerading as legitimate entities, making users vulnerable to scams and identity theft, also known as 'True-name Fraud'. This technique involves the wrongful acquisition and use of a person's personal identification, credit, or account information without their permission, leading to illegal activities such as draining savings accounts and accumulating large debts.
To combat phishing and increase security, it is essential to use methods like two-factor authentication, create stronger passwords, and educate oneself on how to recognize and avoid deceptive emails and scams. Regular training, such as the fake phishing emails sent by university IT departments to staff members, helps in building awareness and cultivating critical reading skills towards every email received.