Advanced Phishing Threats are on the UP: Study Reveals

As businesses start relying more on automation technologies, their dependence on their digital infrastructure increases. This makes them ripe targets for cyber threats of various kinds. Advanced phishing threats are  proving to be particularly dangerous because they target a vulnerability that comes naturally with technological upgrades: the time gap between infrastructural upgrades and human resources upgrades.

Essentially, companies update their technological infrastructures before training their staff on those new systems. This makes it easier for third parties to use techniques like phishing to find a way into those new systems. This is why studies have started showing an increase in phishing attacks. Take the Zscaler ThreatLabz study of these advanced phishing threats for example.

How Many Phishing Attacks in 2022

According to the Zscaler ThreatLabz 2023 Phishing Insights Report, phishing remains the predominant cyber threat. A staggering 47.2% increase in phishing attacks was reported in 2022 compared to the previous year. With the transition to remote work due to the COVID-19 pandemic, cybercriminals have amplified their efforts, exploiting vulnerabilities across communication platforms.

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It is not surprising to see the continuous reliance on phishing by adversaries. Based on the analysis of 280 billion daily transactions, Zscaler's report indicates that 80% of organizations experienced at least one employee being compromised by a simulated  and advanced phishing threats.

Industry-wise Phishing Attack Statistics in 2022

Additionally, despite 78% of corporate leaders stating they felt confident in their defensive measures, over 50% received and succumbed to advanced phishing threats within 2022.

Phishing targets have also changed with certain industries seeing more instances of phishing attacks and others fewer. For instance, the education industry has become a big phishing target with the number of attacks going up by no less than 576%! In terms of overall numbers, the financial insurance industry came in second with it being targeted by 16.6% of the total phishing attacks. Governmental organizations came in close third with a 13.8% share of the overall phishing attacks.

Brands as Phishing Targets in 2022

There were clear preferences amongst the brands too. Brands and platforms that people preferred for their digital work bore the brunt of these advanced phishing threats. For instance, Microsoft brands such as OneDrive and Sharepoint saw a lot of these attacks with a combined total share of 69.9% of the total phishing attacks. This shows that business files and documents were particular targets of phishing organizations.

Binance was also a favored phishing target (23.4%) primarily because it operates with cryptocurrencies and gives phishing criminals direct access to funds. Further, illegal streaming services (6.7%) were targeted as well, possibly because of poor cybersecurity and glaring vulnerabilities.

The inclusion of AI in the attacker's arsenal has only bolstered their success rate. Traditional training and simulations are proving insufficient in the face of these AI-enhanced threats. The data speaks volumes, and current marketplace solutions are falling short.‍

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So, how can Jericho Security help you fight these advanced phishing threats?

Jericho equips workforces with the cutting-edge tools required to identify and counter advanced phishing threats across all communication avenues, not just limited to emails. We empower teams to engage with assurance and provide the unparalleled visibility cybersecurity teams deserve. Jericho ensures they have real-time insights and the capability to thwart phishing attempts as they happen.

With Jericho, experience genuine, actionable training that instills profound knowledge, transcending awareness and moving towards tangible impact. Experience the might of Jericho. Contact us for a 20-minute demonstration now and witness the future of cybersecurity.