Today: October 18, 2017, 4:21 am
  
Computer & Technology

New Mimecast Report Detects 400% Increase in Impersonation Attacks

Ed Jennings, Chief Operating Officer, Mimecast
Ed Jennings, Chief Operating Officer, Mimecast
Current Email Security Systems Missing Thousands of Known and Unknown Attacks

 

PR-Inside.com: 2017-06-11 18:11:14
Dubai, United Arab Emirates, June 11, 2017 – Mimecast Limited (NASDAQ: MIME), a leading email and data security company, today announced the most recent quarterly release of the Mimecast Email Security Risk Assessment (ESRA), a test which measures the effectiveness of email security systems currently in use by thousands of organizations globally. In its second quarterly assessment, Mimecast found that both known and unknown attacks, as well as spam, are continuing to get through incumbent email security systems. In addition and of particular concern, are emails that contain no malware, and instead rely on duping recipients into responding to a request that usually involves sending the attacker money or highly monetizable data. These points were addressed in a January 2017 commissioned Forrester Consulting study titled, Closing the Cloud Security Email Gap, which recommended that organizations engage with a trusted third-party security vendor to more effectively close the gap with their email security.


In comparison to the data initially reported in the February 2017 ESRA, the number of impersonation attacks detected this quarter rose more than 400 percent quarter over quarter. Impersonation attacks consist of social engineering heavy emails that attempt to impersonate a trusted party such as a C-level executive, employee or business partner. This simple method of attack is being exploited at an alarming rate as it can be used to dupe recipients into initiating wire-transfers and sending back other sensitive data leading to significant financial loss – as evidenced by widely publicized recent attacks. In fact, a public service announcement issued by the Federal Bureau of Investigation (FBI) stated that between October 2013 and December 2016 business email compromise scams resulted in a total loss of more than $5.3 billion US dollars. Between January 2015 and December 2016 alone, there was a 2,370% increase in identified exposed losses.

This latest ESRA reflects findings from inspecting the inbound email for more than 44,000 users over a cumulative 287 days received by participating organizations. In aggregate to date more than 40 million emails have been inspected by Mimecast, all of which had already passed through the incumbent email security vendor or cloud email service in use by each organization. The ESRA test uncovered almost 9 million pieces of spam, 8,318 dangerous file types, 1,669 known and 487 unknown malware attachments and 8,605 impersonation attacks. The data reinforces the concerning reality that the industry must work towards a higher standard of email security, as 90 percent of attacks start with email. In general, organizations everywhere are struggling with prolific ransomware attacks, like Locky.

“Cybercriminals are constantly adapting their attack methods. For instance, this latest ESRA analysis reflects how impersonation attacks are getting through existing email security defenses at an alarming rate. If a CISO isn’t reviewing its current email security solution on a 12-18 month basis, they may be surprised at what threats are now getting into employees’ inboxes,” said Ed Jennings, chief operating officer at Mimecast. “At the same time, email security providers need to ensure they’re doing their due diligence to protect customers from new attacks, whether they be advanced or simple. The Mimecast ESRA results show a clear need for the security industry to come together in the fight against email-borne threats.”

About Mimecast

Mimecast (NASDAQ: MIME) makes business email and data safer for 26,400 customers and their millions of employees worldwide. Founded in 2003, the company's next-generation cloud-based security, archiving and continuity services protect email and deliver comprehensive email risk management.

Press Information
Mimecast
Dubai, UAE

Nirmala Dsouza
PR Consultant
+971507343840
email
www.mimecast.com


# 563 Words
Related Articles
More From The Author
Exploiting Data Breaches by Michael Marriott, Digital [..]
High profile data breaches are regularly in the news and, seemingly, businesses and are losing the battle to protect their [..]
ISYX Technologies joins IFS Partner Network
Dubai, UAE, June 7, 2017: IFS, the global enterprise applications company, has signed an agreement with Dubai-based ISYX Technologies, [..]
Mimecast and PhishMe Collaborate to Improve Cyber [..]
Dubai, UAE, June 06, 2017 – Mimecast Limited (NASDAQ: MIME), a leading email and data security company, has collaborated with [..]
WannaCry might be the tip of the [..]
The attack on 200,000 plus computers across more than 120 countries around the world by the WannaCry ransomware certainly got [..]
Sophos Honours Top Performing Channel Partners at [..]
Sophos (LSE: SOPH), a global leader in network and endpoint security presented awards to six of its top performing channel [..]
 
More From Computer & Technology
HK Electronics Fair and electronicAsia attract 86,000 [..]
HONG KONG, Oct 16, 2017 - (ACN Newswire) - The 37th Hong Kong Electronics Fair (Autumn Edition) and 21st electronicAsia [..]
Suprema Launches CoreStation, an Intelligent Biometric Access [..]
SEOUL, KOREA, Oct 12, 2017 - (ACN Newswire) - Suprema, a global leader in biometrics and security technology, has announced [..]
Suprema BioEntry P2 officially launching on October [..]
SEOUL, KOREA, Oct 12, 2017 - (ACN Newswire) - Suprema, a global provider of leading biometrics and security solutions, today [..]
MAVO-lous Coin Sets Sights on US$50 billion [..]
HONG KONG, Oct 5, 2017 - (ACN Newswire) - Magic Mavo Studio Limited, a Hong Kong-based entertainment production company, today [..]
Arayna Technologies Launches Archer, Unique RFI and [..]
BOSTON, MA — OCTOBER 3, 2017 — Arayna Technologies, the premier provider of sophisticated vendor management solutions for [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.