What Percentage of Data Breaches are Caused by Phishing?

Technology companies are prime targets for cybercriminals because they store vast amounts of sensitive information, including customer data, proprietary software, and trade secrets. Phishing attacks can result in data breaches, financial losses, and reputational damage.

To truly understand the threat caused by phishing, asking a question like “What percentage of data breaches are caused by phishing” can be very educational. There’s a close relationship between phishing and data breaches simply because the former is the most cost-effective method of capturing large quantities of sensitive data. That being said, what are the numbers like? Brace yourself.

Percentage of Data Breaches Caused by Phishing and Other Phishing Stats

9 of all 10 data breaches are caused by phishing of some kind. If such phishing statistic surprise you, know that the instances of phishing are on the up not only in terms of raw numbers but also numbers in terms of damage. 

This is a result of the increased sophistication of phishing tools and the use of AI by national agencies, corporations, and private groups of individuals. It is also a result of delayed adoption of defensive techniques by victims but we’ll go into that later in this article. First, here are some statistics with sources highlighting the impact of phishing attacks on the technology sector:

• 70% experienced a phishing-related security incident. (Source: Proofpoint)
• 90% of data breaches are caused by phishing attacks, making it the primary threat vector for cybercriminals. (Source: Retarus)
• 55% of IT and security leaders consider phishing attacks their top concern, surpassing other cybersecurity threats. (Source: CSO Online)

These statistics demonstrate the ongoing challenge of phishing attacks on technology companies, emphasizing the need for comprehensive cybersecurity solutions and employee training to mitigate these risks.

If the most common cause of data breaches is phishing then it makes sense for us to delve deeper into how these techniques work. Some common phishing techniques used to target technology companies include:

• Emails mimicking internal communications or company-specific services
• Fake job offers or collaboration requests
• Malicious attachments or links disguised as software updates or technical information

How Jericho Security Can Help

At Jericho Security, we understand technology companies' unique challenges and offer tailored solutions to combat phishing attacks effectively. Our comprehensive approach includes:

Advanced Cybersecurity Tools and Solution.

Powered by our proprietary generative AI, CyberGPT, we simulate potential phishing attacks and develop innovative defenses to stay ahead of emerging threats.

Comprehensive Phishing Training Programs.

We provide industry-specific phishing training programs to educate your employees on recognizing and avoiding phishing attempts. Our engaging training modules include real-world examples, simulations, and best practices, ensuring your team is well-prepared to navigate the digital landscape safely.

Over 90% of Data Breaches in the Technology Industry are Caused by Phishing Attacks!

Now that you know the answer to the question “What percentage of data breaches are caused by phishing,” don't let phishing attacks compromise your technology company's valuable assets. Take steps to block those threats and neutralize the most dangerous vulnerabilities - human error. Train your workforce to resist phishing techniques and tactics. Partner with Jericho Security to implement cutting-edge cybersecurity training solutions and empower your team with the knowledge to stay safe from phishing threats.