Phishing Threats Are Increasing in Scale and Sophistication
Phishing remains one of the most dangerous and widespread cybersecurity threats. This blog examines the escalating phishing landscape, shortcomings of common anti-phishing approaches, and why implementing a Protective DNS service as part of a layered defense provides the most effective solution.
Phishing is now the most common initial attack vector, overtaking stolen or compromised credentials. Stolen or compromised credentials was the leading attack vector in the prior year’s report. (Source: IBM Security: Cost of a Data Breach Report 2023)
According to recent research, the number of phishing attacks vastly outpaces all other cyber threats. Business Email Compromise (BEC), a type of phishing attack, results in the greatest financial losses of any cybercrime.
In 2021 alone, estimated adjusted losses from BEC totaled $2.4 billion USD globally. This staggering figure represents more than 59 percent of the losses from the top five most costly internet crimes worldwide. These statistics highlight the immense threat posed by phishing, especially BEC attacks, to organizations across industries. (Source: Microsoft Digital Defense Report 2022)
Phishing continues to dominate the Social Engineering incident classification pattern, ensuring that email remains one of the most common and easiest means of influencing individuals in an organization (Source: 2023 Verizon Data Breach Investigations Report) These trends demonstrate how phishing remains one of the most pervasive and costly cyber threats facing businesses today.
Phishing Attacks Evolve, Improve and Automate
- Phishing attacks are becoming more targeted. Phishing attackers are increasingly using social engineering techniques to personalize their attacks and target specific individuals or organizations. For example, attackers may research their victims on social media or other online sources to gather personal information that can be used to make their phishing emails more believable.
- Phishing attacks are becoming more difficult to detect. Phishing attack
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