Malicious emails are the primary vector of cyberattacks and threats because they leave numerous areas of vulnerability. In addition, they are a cheap and easy way for cybercriminals to exploit business information.
The 2022 Trends Shaping Email Security Survey results, conducted by Forrester, indicate that 63% had experienced a data breach within the last 12 months. Meanwhile, 77% of the respondents stated that they agreed that their companies need to prioritize their security initiatives by increasing their email security. These leaders feel that email security remains a priority since emails remain a primary communication medium between them and their clients for internal communications between employees.
Importance of Email Security for Businesses
The average company can receive hundreds of emails in a day, some with significant business or financial information, leaving businesses vulnerable to cyberattacks. Email phishing is the easiest way to exploit business employees.
These attacks come through as innocent emails that prompt users to click on a link or attachment, giving them access to data like login details, business data, or installing malware.
Often, smaller companies don’t feel that they can become a target, but they are not immune to data breaches. Whether a company is big or small, a breach causes devastating financial or intellectual loss.
There are several consequences to ignoring email security. First, many companies don’t see this as an investment but as a burden. They don’t realize that an investment in prevention can save them from data leaks or malware. The financial losses and damage to a company’s reputation can prove devastating.
Data protection laws are another consideration because data protection laws globally can leave a company open to penalties from data leaks.
Purposes of Malicious Emails
Each attack is designed according to what the cybercriminals want from a business—these range from extracting money to stealing data or spreading malware.
A Business Email Compromise (BEC) scam, otherwise known as CEO fraud, is when someone impersonates a high-level executive to get a business partner or employee to wire money into an account.
Getting employees to pay for a fake account is another way to scam an enterprise with bogus data that looks legitimate. These scammers impersonate a supplier by sending an invoice, but the money is diverted into their account.
Sensitive data theft threats are created when hackers manage to obtain employee login details from URLs and their attachments. These often also hide different malware and ransomware.
Solving Email Security Challenges
Built-in email security and the configuration options of cloud email providers are not enough to protect any company from email-based threats. Since emails are created for sharing sensitive information, both internally and externally, encryption solutions are vital to organizations. They allow just the intended recipient to open the message and its content.
Unfortunately, most companies face some challenges with email encryption tools. According to the Forrester Survey, only 10% of respondents said they faced no challenges. The major issue faced by 56% is the lack of automation, but other problems include poor interface design, poor interface design, and resource-intensive platforms. The lack of intuitive user experience, the length of time required to send an encrypted email, and difficulties in learning and implementing systems are also significant issues.
Therefore, the demand for encryption solutions is there. Still, a flexible approach makes it easier for companies to implement a system that has a positive impact with minimum friction and maximum benefits.
Echoworx provides a client-driven approach to encryption solutions. It makes it easier for companies to choose their approach, whether this is enforced message encryption or an automated process. Recipient experience is essential, and a flexible approach is vital for businesses, building customer trust and increasing revenue.
“Making data protection easier is detrimental to user experience. Emails are difficult to secure because of movement and a counterparty recipient,” says Michael Ginsberg, Echoworx’s CEO. “These are the reasons that they require complexity and ease of use. We design measures that have sufficient levels of effectiveness that help prevent employee friction and workarounds, helping businesses to increase their customer trust and buy-in.”
Companies cannot afford to rely only on the protection offered by their email providers and their cloud services. The ever-evolving world of cyber threats, mainly through emails, is constantly on the rise. Therefore, acting preventatively through email security is vital to businesses in 2022. Echoworx’s tailored solutions allow them to create a security strategy that helps build customer trust.