While attackers seek to exploit many different threat vectors, email remains among the most popular. Due to widespread email-based security attacks, businesses are suffering monetary losses, reputational damage, and other negative impacts.
According to 2023 research conducted by Ponemon Institute for Barracuda’s Cybernomics 101 report, 92% of surveyed organizations experienced an average of six credential compromises caused by phishing or other emailbased threats over the past 12 months. The report also shows that each IT staff member assigned to remediation spent an average of 427 hours investigating, cleaning, fixing, and documenting phishing attacks in that time. When you factor in the downstream consequences of successful attacks — downtime, loss of business opportunity, reputational damage, ransom payments, and more — the financial costs can often reach $1 million or more.
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