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Email Attacks: IT Professionals Struggle in Spotting Suspicious Emails

Spear phishing is widespread with 43 per cent of organizations being the victim of a spear-phishing attack in the past 12 months

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Cyber crime, U.S. programming
A man types on a computer keyboard in front of displayed cyber code in this illustration picture. VOA

Email attacks like phishing and ransomware are having a major impact on businesses globally, with over three-quarters of organizations saying their employees aren’t good at spotting suspicious emails, a new report has stressed.

Nearly 74 per cent of respondents say email attacks are having a major impact on their businesses while 78 per cent of organizations said the cost of email breaches is increasing, according to the report titled “2019 Email Security Trends” by the US-based cyber security firm Barracuda Networks. Spear phishing is widespread with 43 per cent of organizations being the victim of a spear-phishing attack in the past 12 months.

“While most IT professionals are more confident about their email security systems than they were a year ago, email attacks continue to have a significant impact on businesses,” said the report. The most common effects cited were loss of employee productivity, downtime and business disruption, and damage to the reputation of the IT team.

email attacks
Nearly 74 per cent of respondents say email attacks are having a major impact on their businesses. Pixabay

“Nearly three-quarters of respondents reported experiencing higher stress levels, worrying about potential email security even when they’re not at work, and being forced to work nights and weekends to address email security issues,” the findings showed.

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“Nearly a quarter of respondents advised that attacks have cost their organization $100,000 or more. Ninety-two per cent of Office 365 users have security concerns,” said the report. The report included responses from 660 executives, individual contributors and team managers serving in IT-security roles.

Companies surveyed include small, mid-sized, and enterprise businesses in technology, financial services, education, healthcare, manufacturing, government, telecommunication, retail and other industries. (IANS)

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Indian Cities Mumbai, New Delhi and Bengaluru face Majority of Cyber Attacks

As the digital footprint of India increases through capital intensive projects, hackers are targeting data and large scale disruption like never before

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Cyber Attacks
Smart cities, financial services and transportation sectors lead the rankings in terms of Cyber Attacks. Pixabay

 There has been a 26 per cent increase in Cyber Attacks in India and Mumbai, New Delhi and Bengaluru together accounted for roughly 38 per cent of all attacks in the July-September period, a new report said on Wednesday.

The report prepared by Bengaluru-headquartered telecom solutions provider Subex identified over 3,500 modular malware samples in the country, registering a whopping 37 per cent increase.

Smart cities, financial services and transportation sectors lead the rankings in terms of cyber attacks, said the “State of Internet of Things (IoT) Security Report” for the third quarter (July-September period).

“As the digital footprint of India increases through capital intensive projects, hackers are targeting data and large scale disruption like never before,” said said Vinod Kumar, Managing Director and CEO, Subex.

“The increase in cyber attacks against the country and the strong geopolitical correlation indicate high levels of interest in targeting our critical infrastructure. Hackers are working to improve their ability to monetize cyber attacks,” he warned.

Malware of varying degrees of sophistication are being reported from a variety of deployments, including new projects surrounding renewable energy.

Most malware detected (36 per cent) could be traced to sources on the Dark Web while as much as 14 per cent of malware couldn’t be traced to a known source pointing to the arrival of new actors and malware shops on the scene,” the findings showed.

Cyber Attacks
There has been a 26 per cent increase in Cyber Attacks in India and Mumbai, New Delhi and Bengaluru together accounted for roughly 38 per cent of all attacks in the July-September period. Pixabay

The detection of malware connected with critical infrastructure projects has also registered an increase.

“This implies that hackers are targeting large scale disruption and are working to increase the cost associated with managing such projects as also negatively impact future investments in them,” the report added.

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Independent hackers are increasingly feeling the need to monetize cyber attacks as the unit cost of malware has risen in the last quarter. Further, it is becoming increasingly difficult to source high-grade malware from multiple sources due to various factors, the report added. (IANS)