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Barracuda Networks, Inc., a leading cloud-first security solutions provider, has recently identified 13 new types of email threats that organisations must be aware of.
As email-borne threats continue to affect organisations, new research has shown that 74% of Australian organisations experienced at least one successful email attack in 2022, costing up to AUD 1.4 million.
The 2023 Email Security Trends was carried out by the unbiased research firm Vanson Bourne on behalf of Barracuda and polled IT professionals across various industries in U.S., EMEA, and APAC firms.
“Email is a trusted and ubiquitous communications channel, making it an attractive target for cybercriminals. We expect email-based attacks to become increasingly sophisticated, leveraging AI and advanced social engineering to get the data or access they want and evade security measures,” said Don MacLennan, SVP Engineering & Product Management, said Email Protection, Barracuda.
“Email-based attacks can be the initial access point for a wide range of cyber threats, including ransomware, information stealers, spyware, crypto mining, other malware, and more. Unsurprisingly, IT teams worldwide don’t feel fully prepared to defend against many email-based threats.”
The study shows that organisations worldwide are facing similar experiences regarding email security attacks. Australia is no exception; 42 per cent of Australian organisations surveyed suffered from downtime and business disruption due to a successful attack. Other commonly-reported effects included loss of employee productivity (41 per cent) and brand or company reputation damage (37 per cent).
The results also indicate that smaller companies seem more vulnerable to sensitive data breaches and damage to their brand reputation.
On the other hand, mid-size and larger organisations are more affected by downtime/business disruption and loss of employee productivity. These findings suggest that while large businesses have stronger reputations which can help them bounce back from an attack, they are still at risk of long-term damage to their operations.
Businesses must protect themselves from these threats by educating their staff on the dangers of email breaches and implementing a comprehensive security strategy.
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