Phishing Statistics: What Every Business Needs to Know

Phishing attacks are on the rise, and they’re more sophisticated than ever.

The reason these types of attacks are on the rise is because they’re extremely profitable for perpetrators.

And with the average cost of a phishing attack costing a mid-size company $1.6 million, it can be a death blow for businesses that don’t put in the necessary protections against a potential attack.

The average cost of a phishing attack for mid-size companies?
$1.6 million

So, let’s start with the basics: What is a phishing attack?

What is a Phishing Attack?

phishing attack, or a phishing scam, is when a criminal sends an email pretending to be someone (ex. the CEO of your organization) or something he’s not (ex. Google), in order to extract sensitive information out of the target.

Essentially, the perpetrator attempts to elicit fear, curiosity, and/or a sense of urgency out of the target, so that when the target is prompted to open an attachment or fill in their sensitive information, like a username, password, or credit card number, they are likely to acquiesce.

Source: Dashlane Blog

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