Business Email Compromises Way Up for Q2
Hardest hit were organizations using Office 365, with incidents costing more than $2 million each.
Attacks targeting business email accounts continued to climb in the second quarter, according to data released today by specialist insurer Beazley. Hardest hit were organizations using Office 365, the popular cloud-based productivity solution.
The July edition of Beazley Breach Insights shows that overall, the top two causes of data breaches reported to the Beazley Breach Response (BBR) Services team during the second quarter of 2018 were hacks or malware attacks (39 percent, including the email compromise category); followed by accidental disclosure (22 percent).
Hacking/malware was down three percentage points from Q1, despite an increase in the number of email compromises. This is due to a slight decrease in the number of reported ransomware incidents in Q2, the report found.
Interestingly, there were notable variances depending on the vertical in question: