Old-school phishing is where cybercrooks lure you into logging in to your bank account on one of their websites. Read More ..
When you enter your personally identifiable information (PII), as you would on the bank's real site, it gets uploaded to the crooks instead of to your bank.
The idea, of course, is that they then use the credentials they just stole to start draining your account.
So phishing is still worthwhile to the crooks, even though it doesn't seem to be quite as successful as it used to be. Many of us have learned to take great care when we're banking online, and to check for the "vital signs" of a scam before we trust a website with our usernames and passwords.
Nevertheless, the phishers are still giving it all they've got. By combining simplicity with accuracy, they're creating banking scams that are much more believable than the crude and misspelled emails and websites that were common a few years ago.