Phishing attacks have skyrocketed in the past year. In fact, Zscaler’s 2024 phishing report noted a 58.2% rise in phishing attacks, with more than 2 billion phishing transactions on record.
Experts predict next year’s report will see a higher phishing rate.
Clearly, these attacks are becoming more sophisticated. They pose an even greater threat to business owners who may not have the expertise or resources to combat new phishing techniques.
But the first step of defense is understanding why these phishing attacks are rising so you can start planning the best ways to fight back. Let’s take a closer look at the reasons causing the surge.
[Related: How To Protect Your Business From Cyber Threats]
Why Are Phishing Attacks Increasing?
Phishing attack rates are rising fast — and for more reasons than one.
Advanced Social Engineering Techniques
Phishing attacks were once basic deceptive emails that you could identify relatively easily, IT expert or not.
Now, they’ve evolved into highly sophisticated social engineering tactics.
Cybercriminals are leveraging advanced techniques similar to psychological manipulation that trick employees into revealing sensitive information or clicking malicious links.
These tactics are increasingly difficult to detect because they appear especially trustworthy and are thus more effective.
[Related: How To Identify Six Different Types of Hackers]
Increased Remote Work
At this point, remote work isn’t a new concept. But it’s sometimes easy to forget the cybersecurity risks involved with working from home.
Working remotely expands the attack surface for cybercriminals because employees use more external, out-of-office devices to carry out daily work.
In the moment, it may not seem like a big deal to bounce between professional and personal tasks on your devices at home or elsewhere outside the office. But more often than not, it ends up leading to complex and costly problems.
And unfortunately, employees don’t have the same level of security at home as they do at the office. And someone’s not always there to consult if a shady situation arises.
But fortunately, CMIT Solutions of Bothell is available 24/7 to provide managed services assistance when issues come up.
[Related: 5 Managed IT Statistics Every Small Business Could Learn From]
Widespread Use of Cloud Services
The adoption of cloud services has escalated, which regrettably provides more opportunities for phishing attacks.
For example, cybercriminals exploit weaknesses in cloud security configurations and often target users by creating fake login pages to steal their credentials.
That’s not to say your business should avoid cloud solutions. But as more and more businesses rely on those cloud-based applications, the potential for phishing attacks increases.
SMBs as Easy Targets
SMBs are a well-known target for cybercrime because hackers view them as vulnerable and easy to manipulate.
Again, SMBs don’t always have the in-house knowledge or tools to protect themselves. It really comes down to limited resources.
The IT professionals at CMIT Solutions of Bothell have the training, technology and defense mechanisms that help your SMB become a stronger entity to fight phishing campaigns.
[Related: How To Guard Your Network From Insider Threats]
AI and Automation in Phishing
Cybercriminals are now using artificial intelligence (AI) and automation more than ever to conduct large-scale phishing attacks. And AI technology is only becoming stronger, smarter and more advanced.
For example, AI can craft highly personalized and convincing phishing emails. Meanwhile, automation allows attackers to quickly reach a vast number of potential victims.
Staying up to date with the latest phishing methods is crucial.
How To Protect Your SMB From Phishing Attacks
So, how can you best protect your data? Ideally, you’ll leave the work to experts like us at CMIT. But you can strengthen your defenses on your own in some ways.
Here are key areas to consider:
- Employee training and awareness. Comprehensive employee training helps by educating employees on the latest phishing tactics. It can regularly teach them how to recognize suspicious emails, links and attachments — and encourage a culture of skepticism.
- Multi-factor authentication (MFA). MFA requires users to provide multiple forms of verification before accessing accounts. This significantly reduces the risk of unauthorized access on all critical applications and services, even if an attack compromises login credentials.
- Advanced email filtering. Filtering emails with AI and machine learning helps detect and block phishing emails before they reach your employees’ inboxes. A phishing filter analyzes email content, sender reputation and other factors to identify and quarantine potential threats.
- System updates and patches. Ensuring all software, applications and systems are regularly updated and patched helps prevent cybercriminals from exploiting outdated software. In turn, they can’t gain access to your networks and launch phishing attacks.
- Strong password policies. These policies require employees to use complex passwords and change them regularly. Encouraging the use of password managers to securely store and manage passwords is also key to reduce the risk of weak or reused passwords.
- Phishing simulations. These simulations test your employees’ ability to recognize and respond to phishing attempts. They also help identify vulnerabilities and provide opportunities for more targeted training and improvement.
- Network activity monitoring and analysis. Use security monitoring tools to continuously look out for suspicious behavior. Anomalies such as unusual login times or access from unfamiliar locations can indicate possible phishing attacks.
[Related: Are You at Risk? Here Are the Industries With the Highest Cybersecurity Risks]
Contact CMIT Solutions of Bothell To Help Prevent Phishing Attacks
Protecting your business from phishing attacks requires a proactive and multifaceted approach.
The tips above will certainly help your business be less vulnerable — but enlisting expert help like CMIT Solutions of Bothell is far more advantageous.
Our experts are up to date on the latest threats and fight them as proactively as possible. Contact us anytime if you want robust, proven strategies to keep your SMB safe from phishing attacks.
Featured image via Unsplash
