During the past 12 months, 89 percent of firms had one or more successful email intrusions, resulting in significant expenses.
The vast majority of security teams believe that their email protection measures are useless against the most significant inbound threats, such as ransomware. This is according to a survey of business customers using Microsoft 365 for email commissioned by Cyren and conducted by Osterman Research. The survey examined issues with phishing, business email compromise (BEC), and ransomware threats, attacks that became costly incidents, and readiness to cope with attacks and incidents.
“Security team managers are most concerned that current email security solutions do not block serious inbound threats (particularly ransomware), which requires time for response and remediation by the security team before dangerous threats are triggered by users,” according to the report.
Less than half of those surveyed felt their companies can prevent email threats from being delivered.
Whereas, less than half of firms consider their current email security solutions to be efficient.
Techniques to detect and stop mass-mailed phishing emails are seen as the least effective, followed by safeguards against impersonation attacks.
As a result, it's perhaps unsurprising that nearly every company polled has experienced one or more sorts of email breaches. Overall, successful ransomware attacks have climbed by 71% in the last three years, Microsoft 365 credential compromise has increased by 49%, and successful phishing assaults have increased by 44%, according to the report.
Email Defences
When the firms looked into where email defence falls short, they discovered that, surprisingly, the use of email client plug-ins for users to flag questionable communications is on the upswing. According to a 2019 survey, half of the firms now employ an automatic email client plug-in for users to flag questionable email messages for review by skilled security personnel, up from 37% in 2019.
The most common recipients of these reports are security operations centre analysts, email administrators, and an email security vendor or service provider, however, 78 percent of firms alert two or more groups.
In addition, most firms now provide user training on email dangers, according to the survey: More than 99% of companies provide training at least once a year, and one out of every seven companies provides email security training monthly or more regularly.
“Training more frequently reduces a range of threat markers Among organizations offering training every 90 days or more frequently, the likelihood of employees falling for a phishing, BEC or ransomware threat is less than organizations only training once or twice a year,” as per the report.
Furthermore, the survey discovered that more regular training leads to a higher number of suspicious messages being reported, as well as a higher percentage of these messages being reported as such. The survey also revealed that firms are utilising at least one additional security product to supplement Microsoft 365's basic email protections. However, the survey discovered that their implementation efficacy differs.
The report explained, “Additive tools include Microsoft 365 Defender, security awareness training technology, a third-party secure email gateway or a third-party specialized anti-phishing add-on. There is a wide range of deployment patterns with the use of these tools.”
The firms came to the conclusion that these kinds of flaws, as well as weak defences in general, result in significant expenses for businesses.
“Costs include post-incident remediation, manual removal of malicious messages from inboxes, and time wasted on triaging messages reported as suspicious that prove to be benign. Organizations face a range of other costs too, including alert fatigue, cybersecurity analyst turnover, and regulatory fines” the report further read.
