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