What is the average cost of a phishing attack?

What is the average cost of a phishing attack?

IBM reports that the average successful phishing attack costs a company like yours $3.86m (if you're in the US, that jumps to $7.9m). A “mega breach” will cost in the region of $350m, and the damage could spiral into the billions.

How long does a phishing attack take?

According to Verizon, the average time it took for the first victim of a large-scale phishing campaign to click on a malicious email was 16 minutes. It took twice as long — 33 minutes — for a user to report the phishing campaign to IT.

How much does a mid size company pay to handle a phishing attack?

Estimates say that midsized companies pay an average of $1.6 million to handle a phishing attack.

What is the success rate of phishing?

However, according to Proofpoint's 2020 State of the Phish, almost two-thirds (65 percent) of US organizations “experienced a successful phishing attack last year.” This was far higher than the global average of 55 percent.

How many phishing attacks are attempted everyday?

These phishing attacks might sound simple, but they work – and that's why so many of these messages are distributed by cyber criminals. And according to a report by email security company Valimail, over three billion spoofing messages are sent every day, accounting for 1% of all email traffic.

What's spear phishing?

Spear phishing is a phishing method that targets specific individuals or groups within an organization. ... While phishing tactics may rely on shotgun methods that deliver mass emails to random individuals, spear phishing focuses on specific targets and involve prior research.

Is phishing illegal?

While phishing is covered under various state laws, there is no single federal statute that directly criminalizes this type of activity. However, there are broader federal criminal laws that do apply to phishing and other identity theft crimes.

What are examples of phishing attacks?

Examples of Different Types of Phishing Attacks

• Phishing Email. Phishing emails still comprise a large portion of the world's yearly slate of devastating data breaches. ...
• Spear Phishing. ...
• Link Manipulation. ...
• Fake Websites. ...
• CEO Fraud. ...
• Content Injection. ...
• Session Hijacking. ...
• Malware.

What are the warning signs of phishing?

10 Most Common Signs of a Phishing Email

• An Unfamiliar Tone or Greeting. ...
• Grammar and Spelling Errors. ...
• Inconsistencies in Email Addresses, Links & Domain Names. ...
• Threats or a Sense of Urgency. ...
• Suspicious Attachments.

How often are phishing attacks successful?

A single spear phishing attack results in an average loss of $1.6 million. 30% of phishing emails are opened by users, and 12% of these targeted users click on the malicious link or attachment. 85% of all organisations have been hit by a phishing attack at least once.

What is the cost of phishing attacks?

• Being the victim of a spear phishing attack can be costly too. As cited in a 2017 report, the average cost of a phishing attack costs a mid-size company $1.6 million.

What is the success rate of phishing?

• One very important phishing statistic is the very low success rate. This is vital to understanding the way that phishing works. Phishing has an estimated success rate of 0.000564%.

What is the average cost of a cyber attack?

• As cyber attacks have grown, they created damage in diverse areas. The average cost of a cyber attack is 4 million dollars. But, not all attacks are in a range of 2 to 5 million dollars.

What are the steps to phishing?

• Here are the basic steps using phishing. Clone a well known site such as Facebook, Twitter, or any site you might like. Basically clone the login page so that you get the password directly. Find a victim and send him the link of the cloned site asking him to login. It depends on your creativity how you do that.