The most vicious of phish don’t care which side of the pond you’re from.
As if 2020 didn’t have enough problems of its own, there is another increasing concern we simply can’t dismiss…email phishing. It’s the leading form of cybercrime, growing in complexity and instances year after year.1 While countries around the world are taking actions designed to curtail cybercrime, much of it is reactive. It remains a company’s responsibility to protect themselves from malicious phishing attacks that result in data breaches, malware infections, ransomware attacks, stolen revenue, and more.
The United Kingdom has been hit hard by cybercrime in recent years and, like all countries, its companies could benefit from having greater security measures in place to prevent phishing attacks. Here are a few interesting points that explain why.
The United Kingdom has the second highest number of cybercrime victims in the world.1
In 2019, the United States’ Federal Bureau of Investigations alone received 93,796 cybercrime complaints from victims in the UK. This is more than 25 times greater than the next highest country of Canada.
98% of security professionals in the UK say that the volume of cyber-attacks has increased, while 96% say the attacks have become more sophisticated.2
These numbers are in line with the steadily increasing number of threats recorded globally, which have increased every year since recordings began.3
Data breaches cost UK enterprises an average of US$3.9 million.
While this is slightly lower than the global average, it reflects a 4% increase over 2019 data breaches.4
UK organisations lost £3.1M due to cybercrimes in the past 13 months, the majority of which began with email hacking.
A total of 1,951 reports were logged and the large majority of businesses being attacked were limited companies.5
In 2019, 27% of all organizations globally were impacted by cyberattacks that involved a mobile device.6
With more employees working remotely, mobile email phishing scams have become an increasing threat.
Long gone are the days when businesses only had to worry about the battling the competition. In today’s world, cybercrime (and more specifically phishing threats) is one of the most dangerous adversaries a company can face. Surprisingly, many companies leave it up to their employees to decide which emails pose a potential phishing threat to the organisation and which do not. With potentially millions in company revenue at stake, it’s hardly a fair predicament in which to place employees. To make matters even worse, one survey found that 22% of employees say they had never been trained on how to recognize or combat a phishing scam.7
INKY takes the responsibility of recognizing phishing scams away from employees and IT departments. An award-winning cloud-based email security software, INKY recognizes phishing emails that the human eye could never see. Driven by computer vision, machine learning, and artificial intelligence, INKY blocks malicious emails, many of which your secure email gateways (SEGs) and virus protection software programs can’t detect. In many ways, a subtle form of training is baked into every email protected by INKY’s anti-phishing capabilities. It comes in the form of a simple banner that alerts readers of dangerous and suspicious emails.
While INKY is based in the United States, it protects organisations throughout the EMEA and integrates seamlessly with any email platform. IT departments love INKY’s reporting features, which allow administrators to review phishing threats that have been identified and see how employees are handling them. You can even conduct your own phishing simulations.
If you’d like to learn more about the phishing threats facing your company and how best to protect it, a great first step is to schedule a demonstration.
INKY® is the emerging hero in the war against phishing. An award-winning cloud-based email security solution, INKY® prevents the most complex phishing threats from disrupting or even immobilizing your company’s day-to-day business operations. Using computer vision, artificial intelligence, and machine learning, INKY® is the smartest investment you can make in the security of your organization. INKY® is a proud winner of the NYCx Cybersecurity Moonshot Challenge and finalist in the 2020 RSAC Innovation Sandbox Competition. Learn more about INKY® or request an online demonstration today.
5Source: https://colpolice.maps.arcgis.com/apps/opsdashboard/index.html#/60499304565045b0bce05d2ca7e1e56c Data pulled on 12.29.20, covering October 2019 – November 2020.