Data Breaches

Phishing attacks account for around 90% of company data breaches in regards to system access origin.

Source
Cisco’s 2021 Cybersecurity Threat Trends report

Financial Fraud

Business Email Compromise is often the source of fraudulent wire transfers, ACH or other types of payments resulting in money being redirected to cybercriminals, totaling to over $43 billion between 2016 and 2021.

Source
FBI Public Service Announcement May 4, 2022

Identity Theft

Business Email Compromise also leads to identity theft by allowing Cybercriminals to gather Personally Identifiable Information of both employees and customers.

Reputational Damages

A Company's reputation can be severely damaged following a data breach.

Downtime Expenses

An email hack can result in lengthy downtimes and significant business disruption due to system and remediation efforts.

Regulation & Litigation Costs

IBM’s 2022 report found that an average of 24% of data breach costs were accrued over more than 2 years after a security incident.

Source
IBM 2022 Data Breach Report

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