At least 3 billion phishing emails are sent every day. Campaigns to steal personal information are more frequent than ever. Making matters worse is the true purpose of phishing; phishing is often the first step of a more sophisticated cyberattack.
More than half of all phishing emails contain malware, allowing 184 million ransomware attacks to happen each year. Some of the largest-scale cyberattacks, such as those on Colonial Pipeline and JBS, have been made possible thanks to the clever implementation of ransomware.
If businesses as large as Colonial are not safe from cybercrime, what hope do small businesses have of resisting? More than 60% of small businesses close permanently in the 6 months following a phishing attack.
Part of these costs relate to ransom payments, others arise from recovery and prevention efforts, and still, more are a result of damaged reputation and consumer trust. 70% of consumers stop shopping at a business that suffered a data breach. Fighting against phishing could be a life or death matter for a company.
Businesses need to increase technological literacy among employees if they want to keep information secure. 85% of scams rely on human error to succeed. Furthermore, humans should never stop watching for discrepancies no matter what protection programs they have in use.
51% of attacks are too advanced for regular protection programs to catch. As technology evolves, so too does a criminal’s desire to use it nefariously. At present, a quarter of phishing emails are able to bypass default security. While email security programs are worth the investment, they are not an excuse for human employees to drop their guard.
Email spam is more than just an annoyance. Through phishing, spam emails are cyber criminals’ chance to strike at the heart of a company, stealing money and information.
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Last Updated on September 27, 2021.