What term describes perpetrators pretending to be financial institutions to steal personal information?

The term that describes perpetrators pretending to be financial institutions to steal personal information is phishing. Phishing is a tactic used by criminals to trick individuals into providing sensitive information, such as passwords, credit card numbers, or Social Security numbers, by disguising themselves as trustworthy entities. This typically occurs through email, phone calls, or fake websites that closely resemble legitimate financial institutions.

By using a familiar appearance and language, phishers exploit the trust that individuals have in reputable organizations, making it more likely that they will share their personal data. This method specifically targets victims based on their relationship with these institutions, highlighting the importance of being aware and cautious about any unsolicited requests for personal information.

Other terms like identity theft, fraud, and scamming may describe related concepts, but phishing distinctly specifies the method of deception involving impersonation of legitimate organizations to achieve the goal of obtaining sensitive personal information.