New Global Research Reveals that 90 Percent of Organizations Have Suffered One or More Successful Email Breaches in the Last 12 Months

Rhea-AI Summary

Cyren (NASDAQ:CYRN) released its 2022 Benchmarking Survey, revealing that 89% of Microsoft Office 365 users faced cyber threats. The study by Osterman Research highlighted a doubling in successful email breaches, averaging 21.6 breaches per organization compared to 11.3 in 2019. Each breach costs US organizations around $311,154 annually. Phishing remains the most common attack, impacting 69% of organizations, while Microsoft 365 account takeovers average 14.5 incidents per year. The report underscores the urgent need for enhanced email security solutions.

Positive

• Increased awareness of cybersecurity threats among organizations.
• High engagement in reporting suspicious emails, with only 2% of organizations lacking a reporting system.

Negative

• Successful email breaches have almost doubled since 2019.
• An average of 21.6 breaches per organization indicates a critical security lapse.
• The financial burden of each breach is significant, averaging $311,154 for US organizations.

Microsoft Office 365 users continue to be the target of online cybercriminals with 89 percent affected

MCLEAN, VA / ACCESSWIRE / April 20, 2022 / Cyren (NASDAQ:CYRN), a provider of inbox protection and threat intelligence solutions, today unveiled its 2022 Benchmarking Survey, a study by Osterman Research on the most prevalent email-borne security threats such as account takeover, business email compromise (BEC) attacks, and ransomware facing Microsoft Office 365 Customers. The study confirms that bad actors are becoming more successful with launching credential compromise attacks targeting Microsoft Office 365 users, with an increase from 78 percent in the 2019 benchmarking survey.

Despite investments in secure email gateways and countless hours spent investigating suspicious emails, the survey revealed that the number of successful breaches caused by email attacks has almost doubled from the levels seen in 2019; respondents disclosed an average of 21.6 email breaches per organization in the current survey versus 11.3 average breaches in the previous one. This is occurring even as organizations are hiring more IT and security staff to cope with challenges during the pandemic. What's more, the cost associated with successful attacks are concerning even for the most secure company. The report shows that organizations are plagued by hidden costs in remediating these attacks once they have happened, with each email breach costing US organizations an average of $311,154 per year, and UK organizations an average of £107,959 per year.

"The report highlights how phishing, Business Email Compromise, and ransomware attacks are affecting organizations across the US and the UK," says Michael Sampson, Senior Analyst at Osterman Research. "Cyber attackers are continuously breaching systems, and organizations are struggling with current security solutions battling to keep up with the onslaught of email threats. We also found interesting distinctions between the US and the UK with organizations in the UK more likely to acknowledge a successful email breach than those in the US, despite the fact that it costs more for organizations in the US to remediate their attacks."

Although phishing is the most common breach type experienced by organizations, with 69% of organizations experiencing at least one successful phishing breach during the past 12 months, the study found that Microsoft 365 account takeovers happen more often - an average of 14.5 Microsoft 365 login credential exposures took place in the previous 12 months. Additionally, undetected email threats have grown exponentially over the past two years, and as a result, organizations have invested in solutions that allow employees to report suspicious emails, with only 2 percent of organizations not defining a mechanism for users to do so.

"Organizations have been inundated by phishing attacks, BEC attacks and ransomware threats for far too long and this study highlights how successful these ‘common' attacks can be," says Mike Fleck, VP Marketing at Cyren. "Not only are organizations experiencing more threats, but they are also suffering from the high costs of incident response associated with investigating suspicious emails and responding to confirmed threats. With the copious number of threats facing organizations every day, and the potential cost it takes to remediate an attack looming over their heads, it is essential that they increase the efficiency of how they are managing the problems of account takeover, BEC, and ransomware. The time has come to accept that we cannot prevent these attacks from getting through, instead we must reduce the effort it takes to spot and contain them before a breach occurs. With an inbox security solution that provides visibility of and an automated and continuous response to threats, businesses can address unsolved problems like business email compromise and ransomware."

To learn more about Cyren and the process behind the Osterman research, and to take a deeper dive into all the findings and key takeaways, please visit: https://www.cyren.com/2022_04_rpt_osterman

Methodology

Cyren commissioned Osterman Research to survey business customers using Microsoft 365 for email to understand how they are being impacted by email-borne security threats, such as phishing, business email compromise (BEC), and ransomware attacks. The survey asked questions on concerns with phishing, BEC, and ransomware threats, attacks that became costly incidents, and preparedness to deal with attacks and incidents. It also asked about the effectiveness of current technical solutions, the benefits of employee training, and how security teams are dealing with messages reported as suspicious.

About Cyren

More than 1.3 billion users around the world rely on Cyren's cloud security solutions to protect them against cyber-attacks every day. Powered by the world's largest security cloud, Cyren (NASDAQ:CYRN) delivers fast time-to-protection with embedded threat detection, threat intelligence and email security solutions. Learn more atwww.cyren.com.

Media Contact
Angelique Faul
Code Red Security PR
cyren@coderedsecuritypr.co.uk
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SOURCE: Cyren Ltd

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FAQ

What does the 2022 Benchmarking Survey from Cyren reveal about email security threats?

The survey shows that 89% of Microsoft Office 365 users are targeted by cyber threats, with phishing being the most common breach type.

How much do email breaches cost organizations according to Cyren's report?

The report indicates that each email breach costs US organizations an average of $311,154 per year.

What trends in email breaches were noted in the Cyren survey compared to 2019?

The survey notes that successful email breaches have nearly doubled, rising from an average of 11.3 breaches per organization in 2019 to 21.6 in the latest survey.

Is there a difference in how UK and US organizations report email breaches?

Yes, UK organizations are more likely to acknowledge successful email breaches compared to their US counterparts.

What percentage of organizations experienced phishing attacks in the last year?

The survey found that 69% of organizations experienced at least one successful phishing breach during the past 12 months.