Cyber-criminals are using new tactics to increase their chance of success in phishing attacks against various companies. Phishing is the most pressing cyber threat organizations face and will increase in the future. In 2021, 83% of organizations reported becoming victims of phishing attacks; in 2022, approximately 6 billion attacks are expected to happen.
Today’s attackers use tactics like spear phishing, vishing and deceptive phishing to target users and cause organizations to lose billions annually. Their primary purpose is to gain access to networks, steal data or infect systems with malware. Due to these attacks, organizations lose valuable customers, money and reputation. With phishing scams not going down, there’s a need to make efforts to prevent the consequences it brings.
The State of Phishing Scams
IBM’s Cost of a Data Breach Report 2021 found that phishing remains the second most expensive attack vector, costing victim organizations an average of $4.65m. Researchers further found that any breach caused by phishing took 213 days to be identified and 80 more days to be contained. Hence, the average time to contain phishing threats is more than 290 days.
Various factors contribute to the increasing number of phishing attacks, like using office-based devices for personal use and other knowledge gaps that can only be overcome by a thorough implementation of behavioral cybersecurity. According to a report by Hoxhunt, proper cybersecurity…
