What is one major impact of a phishing attack?

One major impact of a phishing attack is identity theft. Phishing attacks typically involve fraudulent attempts to obtain personal information, such as usernames, passwords, credit card details, or Social Security numbers, by masquerading as a trustworthy entity in electronic communications. When individuals unknowingly provide this information in response to a phishing attempt, it can lead to identity theft, where cybercriminals use the stolen data to impersonate the victim. This can result in financial loss, damage to credit scores, and a long and challenging recovery process for the victim as they work to restore their identity and secure their accounts.

The focus of phishing attacks is to deceive users into giving away sensitive information, making identity theft a significant and direct consequence of such attacks. Secondary impacts can also arise, but the primary concern remains the unauthorized use of one’s identity and the potential financial harm that can ensue.