In its State of Email Security Report 2019, Mimecast found that companies impacted by an email-based impersonation attack suffered losses in data, customers, jobs and reputation.

A total of 61% of respondents believe that it is likely or inevitable their organisation will suffer a negative business impact from an e-mail-borne attack, with nearly 1 in 10 stakeholders agreeing that it is also inevitable. Thus the findings reveal that the confidence in defences is falling.

It was revealed that 94% of organisations have experienced phishing attacks in the past 12 months, with a further 45% of organisations witnessing an increase in targeting spear-phishing attacks with malicious links.

The report identified that organisations should be as concerned about third-party risk, with a staggering 88% of IT decision-makers witnessing email-based spoofing of business partners or vendors, whilst over a third of organisations saw an increase of attackers looking to gain access to money, sensitive intellectual property or login credentials via email-based spoofing.

Most notably around one-third of respondents felt their email security systems felt short in protecting and monitoring against email-borne attacks or data leaks, as well as falling short in the automated detection and removal of malicious email.

Josh Douglas, vice president of threat intelligence at Mimecast said:

“Email security systems are the frontline defence for most of the attacks. Yet just having and providing data on these attacks is not what creates value for most respondents.”

“Survey results indicate that vendors need to be able to provide actionable intelligence out of the mass of data they collect and not just focus on indicators of compromise which would only address past problems,” Douglas added.

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