United States Reported Less Data Breaches in 2020 but with much more Expensive Successful Hacker Attacks
According to the annual report of the Identity Theft Resource Center (ITRC), 1,108 cyber incidents were reported in 2020 and the number casualties from these incidents was close to 301 million people, a drop of 66% over the previous year.
The social engineering technique of impersonation also helped attackers reap massive profits:
The volume of business fraud and hacking by corporate e-mail systems (BECs) reported to the FBI in 2020 was US$ 1.8 Billion – a figure that reflects half of all cyber damage in monetary terms.
“The trend away from mass data breaches and toward more precise and sophisticated cyberattacks doesn’t mean businesses can relax. Just the opposite. They need to learn whole new ways of protecting their data.”
– James E. Lee, ITRC COO
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📧 CFOs Face Rising Spear-Phishing Threats
Spear-phishing attacks targeting CFOs and senior financial executives are escalating fast. Attackers use a deceptive recruiter email to trick victims into downloading tools like NetBird and OpenSSH, granting hackers remote access without raising alarms.
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To defend against these threats, organizations need advanced detection systems that spot unusual activity early, plus focused executive training to recognize spear-phishing tactics.
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🔥 Hackers Exploit What You Don’t See. Are You Ready?
Most security tools scan your known assets.
But attackers look beyond — at forgotten servers, leaked credentials, and employee mistakes.
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Why EMEA Enterprises Are Prime Targets for Vendor Email Compromise
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Vendor Email Compromise (VEC) is skyrocketing in EMEA, with 72% of employees at large enterprises engaging with suspicious vendor emails — that’s nearly double the engagement rate of Business Email Compromise (BEC) attacks.
Even more alarming? EMEA organizations report just 0.27% of VEC incidents, the lowest rate worldwide, leaving many attacks undetected and unresolved.
The telecom sector and junior sales staff are especially vulnerable, with engagement rates hitting 71% and 86% respectively.
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