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Why is Phishing Protection Crucial for Organizations?

carla.barata By carla.barata • August 23, 2018

Email phishing protection keeps information inside your company safe. Email Security platforms, such as Mail Protection Service, protect all email accounts from Email malware, spam, business email compromise (BEC), spoofing, and phishing.

When you consider that the average amount of damages phishing attacks inflict on mid-size business is $1.6 million, investing in phishing protection seems a reasonable investment. Email security is that important when it comes to protecting multiple aspects crucial to your organization’s success.

Phishing is about Social Engineering and technical methods aimed at convincing the victim to perform a certain harmful action. It may be based only on social engineering, but usually these emails are aiming at convincing a victim to open a document or visit a website. Both these vectors will have disguised malware which will infect the victim and proceed with stealing or tampering with information.

The top risks that email phishing brings are:

Company Information

Phishing emails attacks aimed at an organization usually try to gain access to sensitive business information. Including internal and external communication, financial information or secret information which can be used in corporate espionage.

That's why you need a security system that protects your email accounts from attacks by being integrated into them. From there it can track and filter any communication it deems a risk, such as emails sent from a questionable IP or one carrying a large attachment (a sign of malware.)

Financial Assets

Business Email Compromise (BEC) is a type of phishing scam that aims to elicit money. According to a report, hackers are to receive an estimated $9 billion from BEC schemes in 2018. After suffering such a substantial loss, most businesses are unable to recover and are forced to file for bankruptcy.

Phishing protection measures and software remove some of the risks because cybercriminals typically won’t target companies with excellent email phishing prevention infrastructure. Additionally, a company is far less likely to suffer an attack, if it has software in place which gives administrative privileges only to IT and tech experts.

Employees 

Employees are the number one target of phishing attacks. Because phishing emails can be so meticulously disguised to mimic an official communication, only trained specialists can notice a difference. On the other hand, untrained employees do open those emails and give access to sensitive business, and also private information.

A cybercriminal who gains access to personal data can use it for blackmail, identity theft, and corporate espionage. Without phishing protection software or trained employees, this hurts employees, as much as it does the organization.

Customers 

Exposing external communication makes clients vulnerable to phishing scams. After gaining access to one account, an attacker can use that entry point to steal the entire mailing list on the organization’s domain. They can then use the stolen information to initiate new attacks targeted at customers.

New attacks are usually disguised in your official brand of communication, to make them seem more trustworthy to clients. As one by one fall victim to phishing attacks, organizations start losing customers and as a result, revenue.

Brand Image

Phishing attacks that target customers, usually have a terrible effect on an organization’s brand image. It has an adverse outcome not just on the relationship an organization has with existing clients, but potential leads and partners as well.

After some time, an organization will have such a bad reputation that no one will be willing to do business with them. The owner will either be forced to spend countless dollars on re-branding and Public Relations or close the company altogether.

At AnubisNetworks, we make it our goal to educate people on the threats cyber attacks can have on business. While protecting your organization might seem complicated, it is straightforward to implement in any email ecosystem, regardless of the size and number of accounts.

Request a demo and start protecting your corporate email communications.

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Author: carla.barata

Marketing Manager at AnubisNetworks. Carla possesses an extensive experience in marketing, public relations, social media and events in the IT sector. But most important, she is an evangelist of Email Security solutions at AnubisNetworks. She likes "bringing the good news" and help companies to stay safe against the most recent and advanced cyber threats.

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