Definition - What does Phishing mean?
Phishing is the process whereby scammers attempt to gain access to people's sensitive information by sending emails that trick them into providing it.
Phishing is illegal and can constitute a crime. It is a type of fraud, and it is often part of the means by which identify theft occurs.
Justipedia explains Phishing
The reason why phishing can be a serious threat is because people can get tricked into giving out crucial information such as their bank account number, their PIN number, their social security number, their driver's license number and other sensitive material. Once a scammer has access to this information, it usually becomes possible for them to steal money from the victim.
Anti-phishing legislation has been proposed in Congress. As cyber crime rises, this type of legislation is also likely to rise.