Business-Targeted Email Fraud Sees Huge Increase

Business-Targeted Email Fraud Sees Huge Increase

Email fraud has seen a 476 percent increase between Q4 2018 and Q4 2017, according to the Proofpoint Q4 2018 Threat Report.

  • By Jessica Davis
  • Feb 12, 2019

Email fraud has seen a 476 percent increase between Q4 2018 and Q4 2017, according to the Proofpoint Q4 2018 Threat Report. The report highlights trends and threats across the cybersecurity company’s customer base as well as the larger online landscape.

Email fraud attacks, also known as business email compromise, has seen a rapid increase lately. Proofpoint researchers found that the number of email fraud attacks against targeted companies increased 226 percent between Q3 and Q4 of 2018, and 476 percent between Q4 2017 and Q4 2018.

“Email fraud has seen explosive growth and it’s clear that today’s cybercriminals are relentlessly targeting people, rather than infrastructure,” said Tim Bentley, Proofpoint’s Vice President of Asia-Pacific and Japan.

Proofpoint analyzes more than five billion emails, hundreds of millions of social media posts and more than 250 million malware samples every day in order to protect organizations from advanced online cyber-attacks.

According to the Q4 2018 Threat Report, banking Trojans were the top-email borne threat during the quarter, totaling 56 percent of all malicious emails. Remote access Trojans made up 8.4 percent of all malicious payloads in Q4 and 5.2 percent for the year, an increase from previous years, when they were rarely used.

Social media fraud remains a challenge for consumers and brands despite platforms working to develop protections. Fraudulent social media support phishing, also known as “angler phishing,” increased by 442 percent year-on-year.

Proofpoint’s Q4 2018 Threat Report can be read in its entirety here.

About the Author

Jessica Davis is the Associate Content Editor for 1105 Media.

Featured

  • UL Solutions Launches Artificial Intelligence Safety Certification Services

    UL Solutions Inc., a global leader in safety science, today announced the launch of artificial intelligence (AI) safety certification services, enabling comprehensive assessments for evaluating the safety of AI-powered products. Read Now

  • ESA Announces Initiative to Introduce the SECURE Act in State Legislatures

    The Electronic Security Association (ESA), the national voice for the electronic security and life safety industry, has announced plans to introduce the SECURE Act in state legislatures across the country beginning in 2025. The proposal, known as Safeguarding Election Candidates Using Reasonable Expenditures, provides a clear framework that allows candidates and elected officials to use campaign funds for professional security services. Read Now

    • Guard Services

  • Ransomware Attacks Rise for the First Time in Six Months

    Ransomware attacks have risen for the first time in six months, increasing by 28% month-on-month to 421 attacks. While overall attack volume remained below 500, the uptick may signal a renewed escalation heading into the year’s most active period for cyber criminals. Read Now

  • Report: 47 Percent of Security Service Providers Are Not Yet Using AI or Automation Tools

    Trackforce, a provider of security workforce management platforms, today announced the launch of its 2025 Physical Security Operations Benchmark Report, an industry-first study that benchmarks both private security service providers and corporate security teams side by side. Based on a survey of over 300 security professionals across the globe, the report provides a comprehensive look at the state of physical security operations. Read Now

    • Guard Services

  • Identity Governance at the Crossroads of Complexity and Scale

    Modern enterprises are grappling with an increasing number of identities, both human and machine, across an ever-growing number of systems. They must also deal with increased operational demands, including faster onboarding, more scalable models, and tighter security enforcement. Navigating these ever-growing challenges with speed and accuracy requires a new approach to identity governance that is built for the future enterprise. Read Now

Most   Popular

New Products

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.