13 Spear Phishing Stats to Build Your Case for Email Fraud Protection
Spear phishing is the biggest threat to enterprise security today. According to Verizon, the vast majority of data breaches begin with a targeted phishing campaign against an organization.
Traditionally, we have relied on people as the first line of defense against email fraud. But, as the numbers below show, that strategy just isn’t working. We must instead prioritize investment in technology solutions that block bad email before it reaches the inbox.
To garner support and to build a business case for this investment, you must communicate the size and scope of the spear phishing problem effectively across your organization. And nothing is more compelling than data.
Here are 13 spear phishing statistics you can use to make your case for email fraud protection:
- 97 percent of people around the world cannot identify a sophisticated phishing email. (Source: Intel)
- 30 percent of phishing messages get opened by targeted users and 12 percent of those users click on the malicious attachment or link. (Source: Verizon)
- Only three percent of targeted users report malicious emails to management. (Source: Verizon)
- 95 percent of all attacks on enterprise networks are the result of successful spear phishing. (Source: SANS Institute)
- Business Email Compromise (BEC) scams have cost companies over two billion in the past two years. (Source: FBI)
- By 2019, the cost of cybercrime and data breaches will rise to $2.1 trillion. (Source: Juniper Research 2016)
- In 2015, 736 million records were exposed due to a record-setting 3,930 data breaches. (Source: CSO online)
- After your company is breached, 60 percent of your customers will think about moving and 30 percent actually do. (Source: Aviva)
- The average cost of a data breach increased 15 percent in 2015 to $3.8 million. (Source: Ponemon)
- By 2020, more than 1.5 billion people (one-quarter of the world’s population) will be affected by data breaches. (Source: IDC)
- The cost incurred for each lost or stolen record containing sensitive and confidential information increased six percent in 2015, from $145 to $154. (Source: IBM)
- One-third of consumers said they would stop dealing with a business following a cyber-security breach, even if they do not suffer a material loss. (Source: Deloitte)
- Through 2020, email remains the primary targeting method of advanced attacks. (Source: Gartner)
Want to learn more about how to combat spear phishing attacks with the right technology at your company? Register for our webinar tomorrow, May 12, at 11am ET, “Spear Phishing: Fighting the Next Generation of Email Attacks.”
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About Estelle Derouet
Estelle Derouet is Vice President of Marketing, Email Fraud Protection at Return Path. In her role, Estelle leads a fabulously talented team of experienced B2B marketers, tasked with driving awareness and generating demand. Prior to joining Return Path in 2010, Estelle led the EMEA and APAC marketing function at enterprise mobility provider iPass for eight years. Follow her on Twitter @ederouet.