From 2022 to 2023, the number of phishing emails jumped a shocking 51%, totaling 1.76 billion messages. Fortunately, not all of these emails successfully tricked users, but their increasing prevalence and sophistication make them a serious concern. We’ve already observed a noticeable rise in phishing attacks throughout 2024, highlighting the growing urgency to address this threat.
By targeting victims through disguised emails, texts, phone calls, or links, scammers can steal sensitive information or deploy malware, resulting in significant losses and downtime. The best way to protect your business against these threats is to teach your team how to identify, report, and react to them. Your employees absolutely need phishing training, and here’s why.
1. Combat Sophisticated Attacks
Phishing scams are becoming increasingly more common and sophisticated, meaning that simple spam filters aren’t sufficient protection. By equipping employees themselves with the knowledge to identify, react to, and report phishing attempts, you can stay one step ahead of cybercriminals and effectively combat these evolving attacks.
2. Reduce Financial Losses
Depending on the type of attack, phishing ploys can cost businesses anywhere from hundreds of thousands to millions of dollars. Both direct costs (like ransom demands and repair and recovery expenses) and indirect costs (like lost sales and customer compensation) add up quickly, making phishing training essential in order to stay vigilant.
3. Protect Company and Customer Data
Phishing ploys often aim to compromise sensitive company and customer data, such as login credentials, bank account numbers, etc. Businesses can save themselves the time, money, and hassle of trying to recover data or compensate customers for losses by teaching employees to identify phishing attacks right off the bat.
4. Preserve Business Reputation
Falling victim to a phishing attack can have severe repercussions for an organization’s reputation. One survey found that 66% of customers wouldn’t want to do business with a company that experienced a data breach. By implementing phishing training, businesses can show clients that they care about their data and maintain their reputation as a reputable, safe establishment.
5. Fulfill Compliance Requirements
Many industries have specific compliance requirements related to data protection and cybersecurity. Phishing awareness training helps organizations meet these standards by educating employees on best practices for identifying and handling phishing attempts, ensuring adherence to industry-specific regulations, and protecting sensitive data.
6. Avoid Downtime
Downtime is one of the most expensive consequences of phishing attacks, with some larger businesses losing up to $9,000 a minute. This dive in productivity, sales, customer satisfaction, etc., can be difficult to recover from, so take the proactive approach. Teach your employees how to combat phishing ploys so they don’t result in an outage.
7. Develop a Strong Cybersecurity Culture
Educating your team about phishing attacks can be the perfect foundation for building a resilient cybersecurity culture in your organization. By helping your employees be more aware and follow best practices, they’ll become more security minded. They’ll be more prepared to defend against other threats, ensuring your company’s continued safety and success.
Stay Safe and Aware with Run Networks
At Run Networks, we value your business’s safety and success. When you partner with us for phishing training, cybersecurity, or any one of our premium IT services, you can always expect effective solutions, high-quality service, and a happy, knowledgeable team who’s ready to help you secure your company. For more information about our services, fill out our quick form here.
