Phishing is a social engineering attack that attempts to gain access to systems via deploying malware through an email link or by tricking people into giving up sensitive information by masquerading as a trusted entity within an organization.
Phishing is the leading cause of cyberattacks in the world, according to the FBI - phishing incidents nearly doubled in frequency, from 114,702 incidents in 2019 to 241,324 incidents in 2020. 96% of all phishing attacks are delivered via email, staff training, and education are more important than ever before.
This prevalence makes the cost of a breach a scary stat, IBM’s Cost of a Data Breach Report, puts the average cost per compromised record in 2019 at $150. For context, 5.2 million records were stolen in Marriott’s 2020 breach. That means the cost of the breach could amount to $780 million. But on average, a breach costs organizations $3.92 million.