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Phishing is a global business ... and an attack can be very costly!

By Volker Schulze on Apr 4, 2022 7:19:13 PM

A recent study by the Ponemon Institute has revealed some alarming statistics about the costs of phishing attacks. The study takes a look into all costs associated with these attacks, including recovery and loss of productivity — which actually cost more than payouts made to cybercriminals. The cost of a phishing attack has risen sharply over the past six years — now costing large U.S. companies $14.8 million U.S. annually, which works out to about $1,500 U.S. per employee. By comparison, in 2015, this figure was $3.8 million U.S. annually. This means that in just six years, the cost of phishing attacks has nearly quadrupled. During 2020, business email compromise (BEC) attacks costs rose significantly, with more than $1.8 billion U.S. stolen from U.S. organisations by impersonating employees, partners, or vendors — among other common tactics

Topics: Cyber Protection Cyber Security Phishing Accxia ONE Cloud Phishing Attacks
 

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Phishing is a global business ... and an attack can be very costly!

Posted by Volker Schulze on Apr 4, 2022 7:19:13 PM

A recent study by the Ponemon Institute has revealed some alarming statistics about the costs of phishing attacks. The study takes a look into all costs associated with these attacks, including recovery and loss of productivity — which actually cost more than payouts made to cybercriminals. The cost of a phishing attack has risen sharply over the past six years — now costing large U.S. companies $14.8 million U.S. annually, which works out to about $1,500 U.S. per employee. By comparison, in 2015, this figure was $3.8 million U.S. annually. This means that in just six years, the cost of phishing attacks has nearly quadrupled. During 2020, business email compromise (BEC) attacks costs rose significantly, with more than $1.8 billion U.S. stolen from U.S. organisations by impersonating employees, partners, or vendors — among other common tactics

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Topics: Cyber Protection, Cyber Security, Phishing, Accxia ONE Cloud, Phishing Attacks

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