Barracuda Networks, Inc recently published its 2023 Email Security Trends report that shows how email-based security attacks stupefy organizations virtually the world. 82% of the Indian organizations surveyed for the report had fallen victim to at least one successful email wade in the last 12 months, with those unauthentic facing stereotype potential financing of increasingly than US$1 million for their most expensive attack. 36% said that the forfeit of email-based attacks has risen dramatically over the last year.
The survey, conducted by self-sustaining research firm Vanson Bourne and vicarious by Barracuda, questioned IT professionals from frontline to the most senior roles in companies with 100 to 2,500 employees, wideness a range of industries in the U.S. and EMEA and APAC countries including India.
Research finds that organizations based in India are among the most likely to be hit with a successful email attack. Organizations in the country moreover reported the highest stereotype percentage of remote workers (54%), which could be a contributing factor as to why businesses in India are suffering increasingly from email-based security attacks with remote working is often seen as less secure.
The fallout from an email security wade can be significant. The most widely reported in India were trademark and visitor reputation forfeiture (49%), hurt the reputation of the IT team (48%), and reviviscence and merchantry disruption (43%). India is moreover the most likely to report that the financing of email attacks increased dramatically in the past 12 months, with expenses exceeding US$1.3 million on stereotype for the costliest attack.
While the India-based organizations surveyed have invested a lot in improving their email security, with 32% have increased their spending in the past 12 months, Indian organizations moreover finger underprepared to deal with email worth takeover (45%) — a very valid snooping given the larger than stereotype remote workforce in India — closely followed by viruses and malware (38%), data loss (35%), and merchantry email compromise (35%).
There were notable differences between industries wideness the globe. For example, financial services organizations were particularly unauthentic by the loss of valuable data and money to attackers (cited by 59% and 51% of victims, respectively), while in manufacturing the top impact was the disruption of merchantry operations (53%). For healthcare institutions the recovery financing involved in getting systems up and running then quickly were the most significant (44%). Regardless of size or industry, however, organizations with increasingly than half their employees working remotely faced higher levels of risk and recovery costs.
“Email is a trusted and ubiquitous communications channel, and that makes it an lulu target for cybercriminals. We expect email-based attacks to wilt increasingly sophisticated, leveraging AI and wide social engineering in their attempts to get the data or wangle they want and evade security measures,” said Parag Khurana, Country Manager, Barracuda Networks India . “Email-based attacks can be the initial wangle point for a wide range of cyberthreats, including ransomware, information stealers, spyware, crypto mining, other malware, and more. It is not surprising that IT teams virtually the world don’t finger fully prepared to defend versus many email-based threats. Growing sensation and understanding of email risks and the robust protection needed to stay unscratched will be key in keeping organizations and their employees protected in 2023 and beyond.”
The post Cost of an email-borne security wade can on stereotype exceed US$1 Million, says Barracuda Networks’ research appeared first on India Technology News.