Phishing attacks are among the most prevalent cyber-attack methods, leading to financial breakdowns, damaged reputations, and identity theft. This study focuses on cybersecurity aspects, emphasizing phishing attacks targeting university students. It aims to examine the characteristics, methods, and impacts of phishing attacks on students and their knowledge and awareness of these threats. The study identifies key factors contributing to the occurrence of phishing attacks and their influence on students’ perceptions. Data were collected from 715 university students using a quantitative research approach. Key findings reveal that lack of awareness and failure to verify communications’ authenticity significantly increase Phishing’s vulnerability. The regression analysis revealed that Student Behavior, Perceived Factors, and Mitigating Strategies collectively explain 47.0% of the variance in Student Perception (R2 = 0.470), with all predictors showing significant positive relationships: Student Behavior (B = 0.169, p < 0.001), Perceived Factors (B = 0.392, p < 0.001), and Mitigating Strategies (B = 0.266, p < 0.001). The study highlights the importance of human behavior in executing mitigation strategies, concluding that relying solely on technology-based solutions is insufficient to address the challenges posed by phishing attacks. The study recommends comprehensive educational initiatives, emphasizing the importance of verifying personal information sources and regularly updating software and hardware as effective mitigation strategies.