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Enterprise Security Magazine | Thursday, July 07, 2022
Data security encompasses all kinds of information security needed for the smooth operation of organisations. There is a high risk of breaching data in today's world if information is not secured appropriately. Users must be aware of different data breaching techniques to make sure they do not fall victim to such attacks.
FREMONT, CA: Successful cyber crimes are resulting in catastrophic consequences for organisations and clients. But not all cyber attacks are successful. However, the number of successful cybercrimes has increased over time and has reached 54 per cent in breaching customers' data. Credential and account compromise has also increased by 48 per cent in cybercrime.
Proofpoint's State of the Phishing Report 2022 presented stats on various kinds of phishing attacks that are occurring in different organisations. The stats were based on a survey of 600 IT security professionals from countries such as Australia, France, Germany, Japan, Spain, the United Kingdom, and the United States. The statistics show a 46 per cent increase in ransomware infection, a 44 per cent increase in data loss, a 27 percent increase in malware, a 24 per cent increase in reputational damage, a 22 per cent increase in widespread network outages and downtime, an 18 per cent increase in advanced persistent threats, a 17 percent increase in financial loss, a 15 per cent increase in zero-day exploits, and an 11 per cent increase in financial penalty or regulatory fine.
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Since the reliance on online platforms is important and increasing day to day, it is more likely to encounter such cyber attacks. Therefore, it is necessary to take measures to avoid and decrease the number of these attacks. The occurrence of phishing attacks also depends on human actions such as clicking malicious links that offer success and profits. Subsequently, the best method for defending against such attacks is to conduct employee training. Employees should be taught various kinds of cybercrimes, how to discern them and act accordingly when they face them.
Out of all the phishing attacks, bulk phishing attacks were frequently challenging the organisations. 86 percent of companies faced bulk phishing attacks where the cybercriminals sent emails to a number of people hoping to fall for their prey. Other types of phishing attacks faced by organisations include spear phishing and whaling, email based ransomware, business email compromise, smishing, social media attacks, vishing, and USB drops. Spear phishing is also often encountered in organisations where criminals research the personal information of clients to convince them. Whaling on the other targets high- profile employees to optimise profits.
Ensuring data security is a paramount in leading a harmonious relationship between the organisation and the clients. It is also important to preserve the reputation of the organisation on a global level. Therefore, implementing robust data security strategies are requisite to manage the organisation's information from cyber attacks.
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