10 Facts About Phishing That You Need to See

March 04, 2021

Phishing is today’s nastiest threat. It brings disastrous cybersecurity threats like ransomware in its wake. Cybercriminals are using devious techniques like social engineering and spear phishing to entice employees into clicking on or interacting with cleverly disguised phishing emails, with sometimes disastrous consequences.

See how ransomware rocks businesses in The Ransomware Road to Ruin. DOWNLOAD IT NOW>>

These 10 facts about phishing illustrate just how dangerous phishing is for your business.

Still relying on an old-fashioned SEG? See why Graphus is better! SEE THE COMPARISON>>

Ransomware & Phishing Go Hand in Hand

Cybercrime is booming, and while that’s good news for the bad guys it’s very bad news for everyone else. Phishing is leading the charge as a profit center for cybercriminals, and with it comes ransomware among other dangers. Worldwide, cybercrime costs small and medium businesses more than $2.2 million a year.  There are several ways that ransomware can enter a company’s IT environment. A hacker or disgruntled employee could deploy it directly. It could be slipped in a bogus software update. it may even arrive through a third party that has legitimate access to the company’s network and gets hacked themselves. But the most likely delivery system for ransomware is a phishing message – and that can be prevented. Learning more about ransomware’s relationship with phishing sheds light on the best ways for a company to reduce the risk of a devastating blow like a ransomware attack due to phishing.

5 Ransomware Facts to Remember

  • An estimated 94% of ransomware arrives at businesses via email.    
  • 48% of infectious attachments that contain malware like ransomware are Office files. 
  • 90% of IT pros had clients that suffered ransomware attacks in the past year 
  • 51% of businesses worldwide were negatively impacted by ransomware in 2020
  • 74% of respondents in a 2021 survey said that their companies had been successfully phished in the last year

Learn more about the relationship between ransomware and phishing: What is the Relationship Between Ransomware and Phishing?

See how to avoid cybercriminal sharks in Phishing 101. DOWNLOAD IT>>

Business Email Compromise Starts with Phishing

A phishing message is the most common vector for a business email compromise (BEC) attack on an organization. Anti-phishing technology also helps prevent BEC attacks. This potentially ruinous threat that is 64 times worse than ransomware according to this year’s internet crime report from the US Federal Bureau of Investigation Internet Crime Complaint Center (IC3), yet often flies under the radar. FBI cybercrime analysts determined that business email compromise (BEC) schemes were the costliest cybercrime reported to IC3 in 2020, clocking in at 19,369 complaints with an adjusted loss of approximately $1.8 billion. All told, BEC was responsible for 37% of all cybercrime losses last year, pulling down an estimated unadjusted total of $2.1 billion. 

5 BEC Facts to Remember

  • The most common type of BEC scam is invoice or payment fraud
  • BEC offshoots like billing scams have climbed by 155% 
  • An estimated 62% of BEC scams involve the cybercriminal asking for gift cards, cash app transfers or money cards
  • A whopping 65% of organizations have faced down a BEC threat
  • Many BEC attacks also include spoofing, a technique that ballooned by more than 220% 

Learn more about the relationship between BEC and phishing: Business Email Compromise (BEC): What Is It & Why Is It Dangerous?

Learn the secret to ransomware defense in Cracking the RANSOMWARE Code. GET BOOK>>

AI-Powered Phishing Defense Helps Stem the Tide of Risk

Graphus is the industry’s first simple, powerful, automated phishing defense platform that provides three layers of comprehensive email security. Old-fashioned security tools just aren’t up to the challenge of protecting your business from today’s email threats – sophisticated email attacks routinely bypass technical controls such as Office 365 security, G Suite security, and Secure Email Gateways (SEGs). But they don’t bypass Graphus. SEE HOW GRAPHUS BEATS SEGs >>

Powered by AI technology, Graphus learns and evolves with your business to provide advanced protection against phishing, spear phishing, business email compromise (BEC) scams, account take over (ATO) attacks, and malicious attachments and web links.

  • TrustGraph keeps phishing email away from employee inboxes by analyzing over 50 different attributes of your employees’ communications, including the devices they use, who they message most, what time of day they communicate, and more to detect suspicious email.
  • EmployeeShield places warning banners on messages that may be unwanted and Phish911 empowers employees to report potential phishing email with just one click.
  • Messages that are flagged as potential phishing threats are removed from every employee’s inbox as soon as they’re reported and quarantined for further review by IT staff to avoid accidents.
  • Affordable automation and instant configuration mean you avoid the soft-costs that typically accompany new security solutions, freeing the IT team to focus on other activities and increasing operational efficiency.
  • See how security automation saves businesses money in the eBook Automated Email Security Makes Cents.
  • The smart algorithm never stops learning, refining your protection against new threats by harvesting data that helps it make future decisions without relying on traditional threat intelligence or human intervention with patches and updates.

Phishing threats will never stop growing, and neither will your company’s protection with Graphus. Contact our experts to see how smart, affordable, automated phishing defense from Graphus will benefit your business today.

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