Research Examines Five Industries Most Susceptible To Phishing Attacks

Internet Security Awareness Training (ISAT) firm KnowBe4 has released new cybercrime statistics that identify the nation's most Phish-prone  industry sectors, which are those most susceptible to cybercrime ploys. The top five industries vulnerable to cybercrime include travel, education, financial services, government services and IT services.

These findings are based on a recent phishing experiment KnowBe4 conducted among small and medium enterprises (SMEs) featured in the latest Inc. 500 and Inc. 5000 listings.

Using the Inc.com website to obtain domain names and a free data-gathering service to find publicly available email addresses, KnowBe4 sent out a simulated phishing email to employees at more than 3,500 companies. Individuals who clicked the link were directed to a landing page that informed them they had just taken part in phishing research.

The emails were successfully delivered to about 29,000 recipients at 3,037 businesses; and in nearly 500 of those companies, one or more employees clicked the link. Because of the potential for Internet security breaches among these businesses, KnowBe4 dubbed them the FAIL500.

"Any business that provides access to email or access to its networks via the Internet is only as safe from cybercrime to the degree that its employees are trained to avoid phishing emails and other cyberheist schemes. The more employees within an organization that use email or go online, the greater the risk of exposure to cybercrime," said KnowBe4 founder and CEO Stu Sjouwerman (pronounced "shower-man").

KnowBe4 conducted a comprehensive data analysis of its FAIL500 study results, which included categorizing the companies into 25 industry sectors. The findings revealed that some industries are particularly vulnerable to cybercrime. Based on the percentage of companies in each sector that responded to the phishing email, the most Phish-prone industries are:

  • Travel - 25 percent
  • Education - 22.92 percent
  • Financial Services - 22.69 percent
  • Government Services - 21.23 percent
  • IT Services - 20.44 percent

"Our cybercrime statistics should serve as a wake-up call to SMEs nationwide," Sjouwerman said. "Not only are these businesses at risk for financial loss through a cyberheist, but their susceptibility to phishing tactics could compromise sensitive customer data such as credit card, bank account and social security numbers."

Sjouwerman cites a "false sense of security" as the primary reason companies are vulnerable to cybercrime. "Most people assume that antivirus software and an in-house IT team provide sufficient data security. But considering that IT is among the most Phish-prone industries, it's clear that's a very dangerous assumption to make."

Cybercriminals have become very sophisticated in their tactics, and Sjouwerman notes that they often target businesses through official-looking emails that appear to be sent by government agencies, business partners or even company executives.

"Many of the top Phish-prone industries are regulated and subject to compliance rules, so well-meaning employees can be tricked into clicking a link if they believe an email was sent by a government or law enforcement agency, or by someone they know and trust,” he said “And with just one click, malware can be instantly uploaded to a system -- bypassing both antivirus software and IT firewalls. A cyberheist can be underway within minutes."

According to YourMoneyIsNotSafeInTheBank.org, small-business accounts suffered more than $40 million in cybercrime losses as of 2009. The website also cites FDIC figures indicating this type of crime increased five-fold within a 12-month period, and notes that the FBI is tracking hundreds of related cases. Small and medium-sized organizations have become the primary targets of the Eastern European hacker gangs behind this frightening new crime wave. These cybercriminals tend to prey on smaller businesses and banks that lack the cyber-fraud controls many larger institutions have in place.

Featured

  • Survey Shows Election Anxiety Crosses Party Lines

    New reports of election worker intimidation are raising concerns about election interference. A majority of Americans (71%) are worried about voter intimidation or safety at the polls, and 75% want security cameras at their voting place, according to a new national survey. Read Now

  • 66 Percent of Cybersecurity Pros Say Job Stress is Growing

    Sixty-six percent of cybersecurity professionals say their role is more stressful now than it was five years ago, according to the newly released 2024 State of Cybersecurity survey report from ISACA, a global professional association advancing trust in technology. Read Now

  • Live from GSX 2024: Post-Show Recap

    Another great edition of GSX is in the books! We’d like to thank our great partners for this years event, NAPCO, LVT, Eagle Eye Networks and Hirsch, for working with us and allowing us to highlight some of the great solutions the companies were showcasing during the crowded show. Read Now

    • Industry Events
    • GSX
  • Research: Cybersecurity Success Hinges on Full Organizational Support

    Cybersecurity is the top technology priority for the vast majority of organizations, but moving from aspiration to reality requires a top-to-bottom commitment that many companies have yet to make, according to new research released today by CompTIA, the nonprofit association for the technology industry and workforce. Read Now

Featured Cybersecurity

Webinars

New Products

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening. 3

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols. 3

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis. 3