Phishing is a type of SCAM in which criminals attempt to gain access to sensitive information such as usernames, passwords, and credit card details by disguising themselves as a trustworthy entity in an electronic communication. It is typically carried out through email, social media, or malicious websites. The term 'phishing' comes from the analogy of using bait to catch a fish, as criminals use deceptive messages to lure unsuspecting victims into providing confidential information.