Your email is a professional way to present your brand’s products and services, notify your customers about offers and deals. Emails also contain sensitive information like bank account details, credit card numbers, trade talks, and many more. Also, for businesses emails are a channel of communication with their customers and any malware attack can impact the consumer confidence. Hence, it is very important to never want to risk cyber-attacks on email.
However, emails are the first target for cyber crooks for accessing the private data of your company through phishing attacks and spams. Cyber-attacks aim at using disguised emails as their weapon to trick recipients into considering the message is useful to them. For instance, the message may read their bank’s request related to their bank credentials, a click to download an attachment by their company, imposed urgency, and more.
Businesses around the globe suffer a huge loss in terms of money, reputation, regulatory fines, and much more. Even the biggies like Facebook and Google with impeccable security patches have been infiltrated by the cybercriminals and have lost millions of dollars. The motive behind such scams is not limited to stealing just money, but something even more important.
Let’s find out its severe consequences on businesses.
1. Reputation damage
The foundation of your business is built on trust between you and your customers. They trust you with their information. But when a phishing scam happens, all your data is exposed, including your brand and customers. Consequently, it tarnishes their trust in your company. It affects the perception of your brand in the eyes of your customers, partners, and even employees. Hence, your brand value decreases, and so does your revenue.
2. Regulatory Fines
Regulatory bodies may charge severe financial penalties on account of phishing attacks exposing your customer and employee data in case it violates PCI or HIPAA. In such cases, the organizations have to incur millions for compensating customers and employees whose data have been stolen. A report says that businesses have lost $26 billion globally to phishing crimes from 2016 to 2019.
3. Loss of customers
Data breaches substantially affect consumers and make them nervous. They start finding other products or services that they feel are safer. Hence, in addition to monetary losses, the victim organization loses a large number of customers.
Now, they have to start building that confidence again, which turns out to be even tougher than earlier. Similarly, it affects the confidence of your investors as well, reducing your company value. In 2018, when Facebook faced data breach, its evaluation was reduced by $36 billion.
4. Intellectual property loss
Losing intellectual property is also devastating. Online scams and phishing attacks comprise plenty of trade secrets, customer lists, valuable research, analysis data, the technology used, patent or design, and many more. Such sensitive information, if caught in the wrong hands, can seriously affect a company in many ways.
So, what can you do about it?
Well, to prevent phishing campaigns and other online threats, there are some options available. One way of protecting your emails is by using decent email security software. In fact, the first line of defense in your company must be Email security software. It can safeguard your emails from hackers, viruses, and spamming while letting you run your business without any fear.
Let’s find out the following software to secure your corporate emails.
It can efficiently block threats before your inbox receives them and works fine with existing security. It can provide full protection to cloud email as well as collaboration systems. It scans threats after the existing security system in your computer finishes scanning. It offers top-level defense against business email hacks, breached accounts, and insider threats.
Artificial intelligence powers Avanan to learn from the complex relationship between communications patterns, emails, and employees in order to create a threat profile. This way, the software blocks online threats concerning each organization.
Specialized Advanced Threat Protection Solution for Email. SLE safeguards against cyberattacks that abuse the weakness of email security.
SLE carries out assembly based analysis distinct from other solutions to ensure protection from new cyber threats.
- Analyzes malicious content attached in emails
- Scan for malware hidden in URL links
- Alarms administrators of compromised emails
- Provides comprehensive reports on quarantined malicious content
FireEye Email Security catches common and advanced email threats to reduce the risk of security incidents becoming more serious. Capabilities include:
- Email analysis for threats hidden in password-protected and encrypted attachments and malicious URLs
- A comprehensive stack for advanced threat protection against attachment, credential phishing and imposter-based attacks
- Quick evolution as the threat landscape changes to stay one step ahead of attackers
- Integrated antivirus and anti-spam protection, which consolidates email security and reduces the number of vendors in the email stack
To protect your business against phishing attacks, INKY blocks online threats of many kinds.This email protection software utilizes domain-specific computer vision and machine learning to detect and block phishing emails capable of getting through even legacy email programs. If you use Google Workspace, Office 365, or Exchange, employ INKY and protect your emails.
On detecting any suspicious emails, the software raises warning banners and reflects them directly into your email. This way, it guides what such emails look like, and you can ignore similar emails in the future without responding to them.
Emails are a professional way of interacting with your customers and employees and may contain certain information that you would never want to lose. But do not worry; there is a way to protect them. You can’t control cybercriminals, but you can control phishing scams, spams, malware, and other online threats. Cybersecurity advance solutions can now detect suspicious emails and raise alerts for the user. To protect sensitive and confidential information, and to keep consumer trust intact, it is now necessary for all businesses to implement the advanced cybersecurity solutions.