Owing to the lack of email security and ever-evolving attack tactics of cybercriminals, 2020 has witnessed an unprecedented spike in email-based attacks. As we are constantly moving more and more of our lives online, cybercriminals have taken it upon themselves to take as much advantage of digitalization as they can. Leaving no stone unturned to exploit any vulnerabilities they can find, threat actors are constantly evolving their tactics to fill their pockets at the expense of individuals and organizations around the globe.
With so many cyber attacks making the headlines all through 2020, it has become more important than ever to stay one step ahead of these threats. With so many different kinds of cyber threats looming on the horizon, email-borne attacks are considered one of the most common and severe threats globally. Spear-phishing, ransomware, whaling attacks, whale phishing and a plethora of other malware attacks are some of the most widespread threats to email security.
Data Showing the Scope of Email-Based Attacks in 2020
With email-based unleashing disruption and chaos on businesses around the world, email security has become a major concern for organizations and individuals alike. Here is some data from 2020 showing just how serious this threat is:
- According to a report by Verizon, 96% of phishing attacks are launched through email.
- As per CSO Online, 94% of malware is delivered via email.
- According to Microsoft Digital Defense Report, email phishing has become the most prevalent means of attack for targeting enterprises.
- As per the report by Microsoft, the top ten industries targeted by BEC attacks are accounting and consulting, wholesale distribution, IT services, real estate, education, healthcare, chemicals, high-tech and electronics, legal services, and outsourced services.
- Operation Fox Hunt 1 conducted by Dubai Police prevented an African gang from abusing 800,000 email addresses and put a stop to their bid of stealing Dh4 billion.
- According to a report by Business Standard, 72% of all COVID-19-related cyber attacks are being deployed through emails.
- As per the SANS Institute, 95% of all cyber attacks targeting enterprise networks in 2020 were caused by successful spear phishing.
- CSO Online reported that 80% of all the reported security incidents in 2020 were a result of phishing attacks. It also stated that $17,700 was lost every minute in 2020 due to phishing attacks.
How to Bring Your Organization’s Email Security Up to the Mark?
One careless mistake can bring down your entire organization. It has become imperative to fortify your company’s email security framework during these times of rising cybercrime. Implementing competent email protection solutions has become just as necessary as installing antivirus in your systems. Here are some basic preventive measures you can take to shield your organization against advanced email-borne attacks:
Implement Standard Email Authentication Protocols
Brand impersonation and domain spoofing are amongst the most widespread kinds of email attacks these days. Threat actors can easily imitate your organization’s official website or forge your email domain name to send spam and phishing emails.
These attacks not only affect your employees and customers but can also cause severe damage to your company’s reputation. Utilizing standard email authentication protocols like DMARC, DKIM and SPF can defend your organization against domain forgery.
You can implement KDMARC, which is an effective email authentication solution that monitors all three outbound email authentication protocols and offers protection against sophisticated email-based attacks.
Use Multi-factor Authentication (MFA)
Cybercriminals have successfully compromised numerous organizations by using stolen passwords and usernames available on underground forums. With millions of stolen credentials easily available for sale, multi-factor authentication (MFA) has become the need of the hour.
MFA prompts users to provide an extra form of identification like a fingerprint scan or a code sent to another device, accurately verifying the identity of the person logging in. By enabling MFA on all your email channels, you can make it impossible for the threat actors to bypass your email security with stolen passwords. It’s a great way to stop data harvesting within personal and business accounts alike.
Implement a Phishing Incident Response Tool
Enable your employees to identify and address various malware, cyber attacks, exploits and other external and internal email security threats by implementing a phishing incident response tool. Threat Alert Button (TAB) empowers employees to identify malicious emails and instantly report them.
Provide Employees with Cybersecurity Awareness Training
It is becoming increasingly essential for organizations of all sizes to educate their employees about the prevalent and emerging cybersecurity threats. There is no bigger risk to an organization than employees who do not understand the significance of following the security protocols put forward by the IT team.
Generating cybersecurity awareness amongst your employees can considerably reduce human error, mitigating many potential cyber risks. ThreatCop is an incredible cybersecurity awareness training tool that helps educate your employees about various types of cyber attacks. It lets you simulate six different kinds of dummy cyber attack campaigns on your employees to help assess your company’s real-time threat posture.
Since the lack of email security has already cost us all so much, don’t repeat the same mistakes in the year ahead and take the necessary precautions to secure your email channels from malicious invaders.
Click the button below to secure your email domain against spoofing for FREE with KDMARC!