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Overall cybercrime has been steadily increasing each year, but phishing risk has increased exponentially in the past years. Out-of-control world events, economic challenges, technological advancement, and Dark Web growth have all come together to create ideal conditions for phishing-related cybercrime to thrive – and cybercriminals have been quick to capitalize on that opportunity.
Why Phishing is on the top of the list?
More than 60% of cybercriminals use phishing as their primary form of attack. Why? Phishing is cheap and effective. Not only is it the perfect weapon to use against businesses in general, but it’s especially effective against companies that are supporting a remote workforce and relying on email as their primary form of communication.
Phishing is today’s biggest cybersecurity threat. Just one attack can devastate a company – and the chance of a business experiencing a phishing attack has never been higher.
Phishing includes:
- Credential Theft
- Social Engineering
- Spear Phishing and Whaling
- Business Email Compromise (BEC)
- Ransomware and Malware
- Smishing and Vishing
Phishing attacks statistics:
- More than 60% of cybercriminals use phishing as their primary form of attack
- Over 80% of all cyberattacks are phishing based
- A new phishing attack is launched every 39 seconds
- 90% of incidents that end in a data breach start with a phishing email
- The average duration of business interruption from a cyberattack has increased by around 50%
- Ransom payment demands increased by more than 30% in the last 12 months
- In a year-over-year comparison, downtime costs from cyberattacks have climbed by 75%
- More than 60% of the data available on the Dark Web can harm businesses
- 43% of remote workers have made cybersecurity errors that endangered their company
- An estimated 55% of remote workers rely on email as their primary form of communication
Rapidly growing cybercrime risks are not slowing down, especially now that more businesses were able to get back on their feet after the devastating pandemic and some have continued embracing the remote working setup. Having the right tool will empower your company to mitigate phishing threats and transform your employees into your biggest cybersecurity asset. Paul General - CEO/Cybersecurity Specialist and his team at General Technologies can provide you with the program that best suits your company's needs in terms of cybersecurity.
Start creating your cyber strategy NOW! Contact us to learn more.
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Business owners and their employees need to be aware of phishing, one of the most common threats in today’s digital landscape. In everything you do online, always keep in mind that phishing may be just around the corner of your computer. Luckily, phishing messages can be easy to spot as long as you are observant and think before you click!
If you can look out for the most common red flags, you can detect and bypass a possible phishing attack.
Here are the 6 common red flags:
- Urgent or threatening language: Phishing attempts often create a sense of urgency or use threatening language to prompt immediate action. Phases like "urgent action required," "account suspended," or "your account will be deleted" may indicate a phishing attempt.
- Generic greetings: Phishing emails may use generic greetings like "Dear Customer" instead of addressing you by your name. Legitimate organizations often personalize their communications with your name or other relevant information.
- Requests for personal information: Legitimate organizations do not request personal information, such as usernames, passwords, or credit card numbers, via email, social media, or other online means. Be cautious of any request for personal information.
- Misspellings or grammatical errors: Phishing emails or messages may contain misspellings, grammatical errors, or awkward phrasing. Legitimate organizations usually have professional communications and do not contain obvious errors.
- Suspicious links or attachments: Be cautious of links or attachments in emails or messages from unknown or untrusted sources. Hover over links to check their actual destinations, and do not click on suspicious links or download attachments that you were not expecting.
- Too good to be true: Phishing attempts may lure individuals with enticing offers, such as winning a prize or getting a huge discount. If an offer seems too good to be true, it may be a phishing attempt.
It’s crucial to stay vigilant when using the internet. Paul General, CEO and Cybersecurity Specialist of General Technologies has witnessed different damages caused by phishing attacks. As a precaution for businesses, we have various tools and programs that can help your company mitigate your risk of not only phishing attacks but other serious kinds of cyber threats.
Plan ahead and develop your cyber strategy before it’s too late!
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Phishing is today's biggest cybersecurity threat. With just one attack it can devastate a company and lead to closed doors. Numbers don't lie! Don't let your company fall victim to phishing attacks.
Let us take a look at some phishing attacks numbers:
- 74% of phishing attacks involve credential compromise or password theft
- 67% of data breaches in the past year were caused by social engineering attacks
- Business email compromise fraud has grown by 20%
- Spear phishing has boomed with a surge of more than 600%
- Ransomware attacks have skyrocketed by 148%
Phishing Damages:
CREDENTIAL THEFT - Cybercriminals use stolen credentials to pass right in the front door of a company, enabling them to install malware, steal data, or gain access to systems.
SOCIAL ENGINEERING - Cybercriminals attract unmindful employees into doing their dirty work for them by unleashing ransomware or giving them access to valuable data without raising suspicion.
SPEAR PHISHING & WHALING - These tactics are commonly used to secure credentials, steal information, cause a data breach, or deploy ransomware.
BUSINESS EMAIL COMPROMISE (BEC) - BEC enables cybercriminals to get paid directly and take possession of financial information like banking information and credit card numbers to smooth the path for fraud and other financial damage.
RANSOMWARE & MALWARE - These threats have the most dangerous results of phishing and can be used to create massive damage to the entire network system.
SMISHING & VISHING - Unaware employees who fall for this bait can easily give cybercriminals the keys to the kingdom. Cybercriminals gain access to install malware/ransomware and steal data by tricking users with fake phone calls and texts.
How to Stay Away from Attacks
Rapidly growing cyber crimes aren't slowing down. Businesses must transform employee cyber risk into their biggest cybersecurity asset and allegiance.
Paul General, CEO and Cybersecurity Specialist of General Technologies, came up with different programs, that are employee-centered, to provide quality cybersecurity awareness training. In addition, the introduction of cybersecurity risk assessments allows businesses to assess any possible cyber risk before damages occur. Implementing both of our new offerings will enhance your business security and help to grow your bottom line.
Get your cybersecurity strategy in place now. CONTACT US TO LEARN MORE!
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