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Enterprise Security Magazine | Wednesday, December 27, 2023
Businesses need assistance deploying practical security tools with the rising costs of successful email-based attacks.
FREMONT, CA: Email remains a primary focus for cybercriminals and cybersecurity professionals, as it remains the most common entry point for cyber-attacks. Several vital trends will influence the demand for managed security solutions. The number of email attacks continues to increase, affecting many organizations across all markets. Organizations experience at least one successful email attack. The attack can result in substantial revenue loss, misappropriated funds, and business disruption. Companies with larger remote workforces reported higher total and recovery costs for email attacks. The accumulation of these losses can be catastrophic for small and medium-sized enterprises.
Even for the most cost-conscious customers, the business case for intelligent email security becomes simpler. Businesses can utilize secure backup and recovery services to prevent data loss and automated incident response solutions to prevent attacks from extending across the entire network, thereby reducing the total cost of an attack. Companies recognize that these increasingly frequent and effective attacks can harm their operations. Growing awareness and understanding of email hazards and the need for robust protection is vital for email security. Awareness does not equate to a feeling of complete safety.
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Many businesses still feel unprepared to deal with significant security threats, such as malware or viruses and ransomware, and even feel unprepared to handle spam. It creates an opportunity for security service and technology providers to sell more services to businesses that need more internal expertise or personnel to implement adequate email security. Companies are willing to invest in email security. As attacks become more costly and effective, businesses invest more in email security. Organizations have increased their email security expenditures and feel more secure than before. Email security expenditures are more likely to have increased in larger organizations.
Companies that increase email security expenditures incur comparatively lower costs for successful attacks that were mitigated. For instance, the average price of the most expensive email attack increased security spending relative to the previous year, compared to more maintained spending levels. Many businesses still need to incorporate more advanced security solutions and measures. Advanced, multilayered email security and authentication are essential first lines of defense against malicious communications. To avoid divulging passwords and other sensitive data, users must recognize potential spear-phishing attacks, so security awareness training is essential. Combined with the data regarding attack costs and email security investments.
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