Execution Flow

Obtain domain name and certificate to spoof legitimate site: This optional step can be used to help the adversary impersonate the legitimate organization more convincingly. The adversary can use homograph or similar attacks to convince users that they are using the legitimate website. If the adversary leverages cold-calling for this attack, this step is skipped.

Techniques
Optionally obtain a domain name that visually looks similar to the legitimate organization's domain name. An example is www.paypaI.com vs. www.paypal.com (the first one contains a capital i, instead of a lower case L)
Optionally obtain a legitimate SSL certificate for the new domain name.

Explore legitimate website and create duplicate: An adversary optionally creates a website (optionally at a URL that looks similar to the original URL) that closely resembles the organization's website that they are trying to impersonate. That website will contain a telephone number for the victim to call to assist them with their issue and initiate the attack. If the adversary leverages cold-calling for this attack, this step is skipped.

Techniques
Use spidering software to get copy of web pages on legitimate site.
Manually save copies of required web pages from legitimate site.
Create new web pages that have the legitimate site's look and feel, but contain completely new content.

Convince user to provide sensitive information to the adversary.: An adversary "cold calls" the victim or receives a call from the victim via the malicious site and provides a call-to-action, in order to persuade the user into providing sensitive details to the adversary (e.g. login credentials, bank account information, etc.). The key is to get the victim to believe that the individual they are talking to is from a legitimate entity with which the victim does business and that the call is occurring for legitimate reasons. A call-to-action will usually need to sound legitimate and urgent enough to prompt action from the user.

Techniques
Call the user a from a spoofed legitimate-looking telephone number.

Use stolen information: Once the adversary obtains the sensitive information, this information can be leveraged to log into the victim's bank account and transfer money to an account of their choice, or to make fraudulent purchases with stolen credit card information.

Techniques
Login to the legitimate site using another the victim's supplied credentials

Voice Phishing