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Pharming: how can this scam affect your brand?

branddi · Published on · Updated on

Pharming: how can this scam affect your brand?

Something we never tire of repeating here at Branddi is how fraudsters and scammers don't sit back. Quite the contrary, they are constantly learning and adapting to be able to circumvent digital surveillance.

Proof of the evolution of these tactics is the combination of different forms of fraud, which allows for more efficient action. And this not only involves deceiving consumers, but also acts under the monitoring of brands.

One ​​of the examples of this development of digital attacks is pharming, which combines phishing and farming techniques to steal and manipulate confidential information.

But what is this scam really, how can it impact companies and how to protect your brand from the consequences? Come with Branddi and understand everything about the subject!

What is pharming?

In short, we can say that pharming is the combination of "phishing", a scam format that triggers messages with false links and "farming" (cultivation). The main difference between the two is that, in the case of farming, the attack is more direct, taking the user directly to the fake domain, without having to click on any link.

In the case of pharming, criminals use social engineering to redirect their consumers to fake websites that simulate their brand. Thus, not only can they steal your organic conversions, they can also install malware or steal sensitive customer information.

The main targets of these types of scammers are companies or institutions that move a large amount of money or attract a large number of people. Among them we can mention financial institutions, banks, large companies, digital payment platforms or e-commerce platforms.

How does pharming work?

As we said previously, pharming is a cyber attack that takes advantage of the internet infrastructure to direct users to fake sites. Let's take an example, imagine that you are trying to get to your house, but someone changed the street signs to take you somewhere else. Confusing, isn't it?

Because that's exactly what pharming does with website addresses on the internet!

The first stage of the attack aims to infect the computer with malicious software that has the ability to change DNS settings. This DNS then translates the addresses we type into the browser (such as www.example.com) into IP addresses. In this way, the scammer ensures that, when the user enters a legitimate website, the computer is directed to a fake website, created by criminals.

How can pharming impact your company?

Pharming is a silent attack that is difficult to detect. In other words, it represents a significant threat to companies of all sizes, as it can cause damage to the brand's reputation and finances.

However, that's not all! Check out the four main consequences that pharming can bring below:

Damage to brand reputation

Every entrepreneur knows that trust is one of the most valuable assets of any company. Therefore, when your consumers are directed to fake websites pretending to be your brand, that trust is significantly shaken. After all, the perception remains that the company is unable to guarantee the security of its customers' personal and financial information.

This loss of trust, in turn, can generate a series of negative consequences for the company. Dissatisfied customers tend to share their negative experiences, which can quickly turn into an image crisis.

As a result, the brand may find it difficult to attract new customers and establish strategic partnerships, making the crisis even longer and deeper.

Customer loss

As previously mentioned, the loss of customer trust is one of the biggest impacts of pharming.

Dissatisfied customers will certainly look for competitors, which can lead to a drop in sales and the company's revenue. In addition, of course, to the loss of competitiveness of your brand compared to its sector rivals.

Increased financial losses

Another direct consequence of pharming is the increase in financial losses. This is because they can be multi-causal, that is, they can affect the brand in the most diverse ways.

Among them, we can mention the increase in costs with customer service and compensation for consumers who were victims of these attacks. In addition to increased investments in data recovery in cases of information theft.

These combined losses, finally, can not only cause the interruption of the company's services, affecting productivity, but even cause the closure of its activities.

Exposure to fines and penalties

Finally, we could not talk about the consequences of pharming attacks without discussing the possibility of exposure to fines and penalties.

Combining financial and reputational losses, depending on current legislation and the severity of the incident, the company may be subject to liability for damages suffered by the consumer.

My brand was a victim of pharming, what now?

In the event of a pharming attack, transparent communication with customers is essential. Therefore, the company must inform customers about what happened, the measures that are being taken to resolve the problem and the additional security measures that are being implemented.

Remember: Honesty and transparency are essential to restore customer trust and prevent the situation from worsening.

In addition, it is essential that the brand offers support to customers affected by the attack, demonstrating empathy and proactivity. This not only demonstrates the company's commitment to the safety and satisfaction of its consumers, but also strengthens the relationship between the parties.

How to protect your brand from pharming?

Have you ever heard the saying “prevention is the best solution?” When we talk about brand protection, this is also true. After all, by maintaining active and constant monitoring on everything that involves your company, it is possible to identify faults and problems that are still dormant, which may be looking for the best moment to attack.

Therefore, the best way to keep your company protected against scams such as pharming is ensure protections such as SSL certificates, firewalls and antivirus. But do you remember what we said at the beginning of this article? Fraudsters are becoming increasingly prepared and to stay ahead of them you need more than the basics.

And that's exactly where we, at Branddi, come in! After all, our exclusive tool manages to combine high technology, human expertise and artificial intelligence, managing to anticipate and guarantee a quick response to these threats.

In the case of Pharming, we operate 24/7 monitoring in more than two thousand TLDs, advertisements and social network profiles. In other words, if there is any suspicious occurrence threatening your results, we will find it.

But, more than that, we will also send reports and notifications to registrars, servers, hosting systems, browsers and advertising platforms. This way, we also prevent these malicious actions from remaining operational.

Are you tired of wasting time and resources on scams and fraud? The time has come to invest in your brand protection and safeguard your most precious asset: the trust of your consumers!

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