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Cisco Umbrella, Duo Security & Cisco Email Security: The European Phishing Threat

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Solution brief Cisco Umbrella What exactly is phishing? Cont. Clone phishing is a type of phishing attack whereby a legitimate, previously delivered email containing an attachment or link has had its content and recipient address(es) taken and used to create an almost identical or cloned email. Attackers also use social engineering to create sophisticated and highly targeted Business Email Compromise (BEC) and phishing campaigns. C-level executives were twelve times more likely to be the target of social incidents. "Cisco Umbrella helps us improve our customers' lives and deliver the best customer experience by integrating service simplicity with ground- breaking protections against phishing and malware for businesses." Salvatore Nappi Head IT Business Marketing, Telecom Italia (TIM) What does this mean for Europe? Results from analysis of Cisco Umbrella's global network show that in the first half of 2019, the top European industries affected by phishing attacks were healthcare, financial services and local municipalities. From February to June 2019, Cisco Umbrella saw a 230% growth in volume of phishing targeting our European customers. Most traffic was seen by organisations with 1K–10K users. UK companies are the world's most frequent business targets of phishing. Around a third (32%) of UK businesses and two in ten charities (22%) report having cyber security breaches or attacks in the last 12 months. 4 Phishing attacks are identified as the most common attack by 80% of these businesses and 81% of these charities. 4 However, the UK is not alone in this. Belgian bank Crelan famously lost €70M to a classic CEO fraud social engineering trick after it failed to properly train employees against basic spear-phishing attacks. In the months from January to September 2019, over one million suspicious emails were reported to the Belgium Centre for Cyber Security (CCB) — that is a significant increase from the 648,000 detected last year. In 2019 this equates to 30 malicious sites blocked by the CCB each day — in 2018, this number was only five. 47% of businesses in Belgium have experienced financial loss in relation to a data breach. 5 8% 2 said breaches cost their organisation a minimum of $5M. Their impact, however, is more than financial. Breaches create adverse impacts to financial profitability, brand reputation, customer data security, customer satisfaction, and continuity of business. Losses can be substantial and non-recoverable. Why the rise of attacks? Companies are transitioning to a more cost-effective model of cloud-based solutions and are hence increasing their potential points of attack. Mobile users pose new security risks, accessing email and data on the go. Phishing attacks and credential theft, as well as configuration errors, are a natural by-product of the process. This trend highlights the urgent need for organisations to shield themselves from the increasing threats posed by phishing attacks, or else risk incurring significant financial losses. How can Cisco help? Cisco's cloud security (Cisco Umbrella), multi-factor authentication (Duo Security) & email security (Cisco Email Security) solutions can stop phishing attacks regardless of their goal. The joint power of the three helps you to protect your users and secure access to applications — everywhere. Compromised credentials are a major security risk leading to phishing attacks. Cisco Umbrella provides the first line of defence against threats on the internet. While it prevents the connection to malware and attacker infrastructure delivered via malicious links, Duo Security Multi-Factor Authentication (MFA) reduces the risk of stolen credentials. © 2019 Cisco and/or its affiliates. All rights reserved.

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