92% of organizations fell victim to phishing in the past 12 months

Phishing attacks remain a significant threat to organizations. According to the data presented by the Atlas VPN team, based on the survey conducted by Egress with 500 cybersecurity leaders, 92% of organizations were victims of phishing in the past 12 months, and 86% experienced negative consequences as a result.

  • 1 year ago Posted in

The most commonly reported fallout from phishing attacks was financial losses from customer churn. Overall, 54% of surveyed organization leaders said they lost customers and revenue due to successful phishing attacks.

 

A company's reputation, which may have taken years or even decades to build, can be irreparably damaged in just seconds due to a single security breach. Reputational damage was reported by 47% of organizations that were impacted by phishing attacks in the last 12 months.

 

Moreover, over a fourth (27%) of organizations underwent lengthy remediations, while nearly a tenth (9%) faced legal repercussions.

 

However, phishing incidents did not only have repercussions for the victim organizations but also for the employees involved. In 30% of cases, the employees were disciplined as a result of the successful phishing event, while 22% of organizations reported that the employee was dismissed. In 18% of instances, employees left voluntarily.

 

72% of cybersecurity leaders express concern over AI's use in phishing emails

 

Phishing has become an increasingly sophisticated cyber threat as cybercriminals continue to evolve their tactics. With the advancement of AI technology, there are concerns it may be misused to create more sophisticated cyberattacks.

 

Specifically, 72% of cybersecurity leaders are expressing worries about the use of AI in email phishing attacks. Cybersecurity leaders within financial organizations are the most alert about AI's use to craft phishing campaigns — 80% showed concern.

 

These concerns arise from the potential for AI to automate the phishing process, which can make attacks more efficient and scalable. Additionally, AI can create highly sophisticated and personalized phishing emails that are difficult to detect using traditional security systems. The use of deepfake technology to add video and voice capabilities to phishing attacks can make them even more dangerous.

 

FTI Consulting, has released a study from its Strategic Communications segment that reveals the...
Enterprise AI/ML transactions increased from 521 million monthly in April 2023 to 3.1 billion...
Converging SIEM and XDR to revolutionise security with observability in the generative AI age.
Powerful combination of the AI-native CrowdStrike Falcon XDR platform and the Rubrik Security Cloud...
98% of top tech execs paused their corporate genAI initiatives to establish policies.
Nozomi Networks OT and IoT visibility and threat detection capabilities now part of Yokogawa’s...
Study finds a lack of understanding around cloud security remains key challenge.
The partnership enables Dataproof to provide affordable and efficient cybersecurity to rapidly...