I just figured out how to stop phishing. Every financial institution has to make a policy that they will never contact you with urgent requests via email. If they ever have an urgent request, such as the suspension of your account, they will only contact you via letter or telephone. Then they need to publicize this to educate the consumers that they will never send you anything urgent via email.
The reason phishing is successful is that a scam artist can afford to “cast a wide net”: it costs virtually nothing to send millions of emails. Even if just a handful of people fall for the rouse, it is a success for the scam artist.
On the other hand, a telephone call or a paper letter costs money, especially from Nigeria. A bank will be willing to spend a few cents to contact a customer whose account is in jeopardy. But a scam artist cannot afford to phone or send a letter to millions of potential targets.