The word is a combination of ‘Private Data’ and ‘Fishing’. It involves the extortion of sensitive private or financial information using social engineering or technical concealment methods.
Social engineering method: E-mails are sent out to unspecified receivers impersonating well-known organizations in order to attract people to fake websites with the ultimate aim of extorting financial information, account information and such online.
Technical concealment method: Installing malicious codes such as Key Logger and Spy ware to PCs to extort financial information.
What is Pharming?
It is an advanced form of Phishing which uses DNS Hijacking to attract users to a fake website in order to extort private information.
With the alteration of a name resolution system, users believe they are accessing a legitimate website but actually enter a bogus site.
While social engineering Phishing has a comparatively high failure rate, Pharming has a high success rate.
