Business email compromise attacks treble in last quarter

Caroline Wigley
Categories:
Tags: Mimecast Security

In the company’s latest quarterly Email Security Risk Assessment report, email security solution provider, Mimecast, highlights that the number of business email compromise (BEC) attacks (also known as email impersonation fraud), has risen by 269% in the last three months.

It’s believed that the rise in BEC attacks is due in particular to the cybercriminals’ ability to elude the traditional email security systems typically in use today.

Mimecast also reports a rise in:

  • Emails incorporating dangerous file types - now at a 28,808 level
  • Emails with malware attachments - now numbering 28,726
  • Spam delivered via incumbent email security systems - now at almost 29m.

Joshua Douglas, vice president of threat intelligence at Mimecast, says, "This ESRA report pointed out that impersonation attacks continue to menace all types of organisations, but I think the real issue is that there are tens of thousands of email-borne threats successfully able to bypass the email security systems that organisations have in place, effectively leaving them vulnerable and putting a lot of pressure on their employees to discern malicious emails."

Microsoft Office 365 incorporates email protection functionality, but as the 2019 Osterman Research Report, Ten Questions to Ask About Your Office 365 Deployment, concludes, the Microsoft service “will not fully meet many organizations’ requirements.” Mimecast confirms that almost 50% of their customers are boosting cyber protection for Microsoft Office 365.

Cobweb and Mimecast

Cobweb partners with Mimecast to offer customers a layered approach to email and data security.

Mimecast’s range of email security services are cloud-based and protect business email from modern security threats, including impersonation scams and spear-phishing attacks, where cybercriminals are targeting a specific individual within an organisation, to steal data or install malicious code, and from ransomware which aim to hold organisations to ransom after encrypting their data.

Michael Frisby, Cobweb MD, comments, “Security is at the top of every business’s agenda and helping customers secure their business as they move to the cloud is at the heart of the solutions we deliver.

“We see the threat landscape continually evolve, and security specialists, such as Mimecast, are always developing and refining their services to meet the changing threats.”

Next steps

If you’d like more information about the range of Mimecast email security services, contact the Cobweb team.

 

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