Based on research for Cyber Security Hub’s Mid-Year Market Report in 2022, 75% of cyber security professionals assume that phishing and social engineering are the most dangerous security threat to their organization. Having said that, companies must safeguard this delicate asset without sacrificing its effectiveness in communication.
Businesses expose themselves, their clients, and their customers to the consequence of cyber security incidents like phishing, data breaches, and business email compromise when they lack adequate email security strategies.
Phishing attacks and tactics can lead to devastating effects for businesses. A great example of this was the case of Sony Pictures way back in 2014. The system engineering and network administrator were targeted with fake emails that are allegedly from Apple. Not minding the legitimacy, the hackers have had easy access to Sony’s network– which led to multiple gigabytes of data being stolen including business-related content, financial records, customer-facing projects, and digital copies of recently released films. The hack cost Sony an estimated US$15mn.
A security breach can lead to sensitive information being leaked, loss of trust from clients and partners, and damage to the company’s image. If trust among partnerships, brands, and customers were broken due to a lack of security of confidential data, they may look for other brands– which could cause a drastic drop in a company’s revenue.
Email security measures, such as encryption, authentication, and spam filters, can help prevent external threats and outbound threats, such as phishing scams, malware, and malicious messages, and ensure that sensitive information is protected during transmission and storage.