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Blog Email security mistakes that can cost millions to your organisation

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Cybercrime has been increasing since the invention of the Internet. It has caused massive damage to both individuals and companies.

In this age, cybersecurity threats continue to loom over everyone. Of these threats, none are more risky and disruptive than those associated with email security. These threats are always present, whether for private email accounts or business accounts.

According to Verizon's 2019 Data Breach Investigations Report (DBIR), 94% of malware is delivered via email. Malware isn't the only email security threat. You must also pay close attention to spam and phishing, unauthorized users and their unintentional behaviour, malicious people, social engineering, and more.

These threats can cost you and your organization millions of dollars or euros. The cybercriminals behind these do not choose victims based on size. They will attack individuals just as they would attack businesses for their benefit.

Despite so many negative examples, many people ignore this danger because they don't think it will happen to them. Maybe sooner or later, they have to learn the hard way and take these threats seriously.

What do you need to know about email security threats and how they can cost you?

When people think about email security threats, they usually think of Malware, Spam, and phishing. But these are just a few of the dangers that could be in your inbox. It is crucial to understand these threats and how the best secure email providers deal with them.

Malicious software

Malware is any piece of software that is intentionally designed to damage a computer, server, client, or computer network, reveal private information, gain unauthorized access to information or systems, deprive users of access to information, or unknowingly interfere with users Computer Security and Privacy.

Malware includes viruses, ransomware, spyware, worms, Trojan horses, and other harmful software that cyber attackers use to control networks, computers, or email accounts. A successful malware attack allows hackers to access important information, such as your bank account passwords, monitor your online activity, or other malicious behaviour.

Phishing

Phishing is an email threat. It could cost you a fortune if you get fooled. Like malware, you usually get malware when you download an attachment or click on a link that contains it.

A hacker using phishing doesn't have to know how to write a virus or anything like that. Instead, they ask users to provide some private and confidential information by impersonating a trusted entity such as the victim's bank or human resources department. For example, their login credentials (username and password). Once the victim provides this information, the scammer can fully access their account and withdraw money at will. Their success mainly depends on the innocence of people.

Learn about [How to send documents securely over the Internet.] (/blog/how-to-send-files-securely-over-email/)

Spam

Spam are unsolicited messages sent in bulk via email (Spam). It dates back to the 1980s. But even today, 40 years later, spam still accounts for nearly [50% (45.37%)] of all emails sent (https://www.statista.com/statistics/420391/spam-email-traffic-share /). On the surface, spam appears to be innocuous and has no financial cost. But the resulting loss of productivity is another matter.

The Radicati Research Group Inc. shows that the cost of spam varies considerably. Spam cost businesses $20.5 billion annually in 2012 due to lost productivity and technology expenses. That's even more than the revenue spam gangs make by sending it.

According to Nucleus Research, these costs break down to about $1934 per employee.

According to [Kaspaersy] (https://www.kaspersky.com/about/press-releases/2022_employees-can-lose-around-two-business-days-per-year-sorting-out-spam-emails), employees can lose about two business days per year for check spams.

Insider Threats

Many times, the real threat is not external but internal. While you're defending against external threats and even the best private email service you might use, you can't ignore internal threats.

Unintentional insider threats are just that unintentional. But that doesn't mean they have no consequences. In fact, an unwary employee could potentially cost their company millions or more by replying to malicious emails and leaking important company documents.

On the other hand, insider threats can also be entirely intentional. For example, a fired former employee can still access your company's database. This angry ex-employee can happily enter and destroy your company database) to retaliate against your company and cause severe damage.

How to address threats

When considering email security threats, most people care about the money hackers can steal directly from them. But that's just the tip of the iceberg. Financial losses also come from losing confidential information, sensitive information falling into the wrong hands, business downtime, and inevitable reputational damage. This can cost you and your business millions of dollars, either directly or indirectly.

That's why you need to be vigilant about these threats and educate yourself and your employees about the different types of email threats and best practices for avoiding them.

Make sure everyone in the company knows how to identify potential malware, phishing, and scam emails. Also, learn the basics of how to deal with these threats. For example, don't download potentially malicious attachments from unknown sources, and don't leak sensitive information to untrusted entities.

On a personal level, email security starts with strong passwords (supported via two-factor authentication or 2FA). Creating a password that is not easily brute-forced is critical to keeping your account secure. In other words, you should not use weak and short passwords (e.g., "123hki"). Conversely, a strong, long password (e.g., "guDvoj-pemmi8-davryp") is much more secure than a short, weak password.

Beyond that, every organization, be it a small business or a large corporation, should invest in IT security, including anti-virus and anti-phishing software, to protect themselves, their employees, and customers from malicious attacks. This also includes secure email gateways or email security gateway solutions.

But no matter how careful you are, there is always a chance that something is missing. That's why you should sign up for the best secure email service at Liverado. It encrypts your emails, preventing criminals from gaining access.

Secure email is the best solution. It can protect your inbox from phishing, spam, malware and other email security threats.

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