The next knock to an organization’s reputation is loss of customer trust. The worst part about this form of reputational damage is that it may take decades for reports of the phishing attack to fade from public memory, causing repercussions to last for years. This credit reporting bureau has been synonymous with the term “data breach” since its infamous incident, demonstrating the devastating effect that phishing attacks can have on the victim’s reputation. This example can be best explained with the relatively current example of Equifax. This is the classic reputational damage that most probably think of and is the damage inflicted upon the victim’s reputation based upon the phishing attack (normally compounded by a resulting data breach). Damage to reputation or brandįor lack of a better term, damage to reputation is the most obvious form of reputational damages. Instead of being one instance of reputational damages, phishing attacks can result in multiple different types of this damage. What makes reputational damages possibly the nastiest of the phishing damages is how extensive and entangled the reputational damage can be. Below is a rundown of some of the most common types of reputational damages. The long answer to this question is that reputational Damages can come in many different forms. You could have probably guessed this based upon what these damages are named, but the long answer may shock you. The short answer to this is that it is damages caused by phishing to the reputation of the victim.

This question has a short answer and a long answer. Without further ado, let’s delve into what reputational damages are. Financial loss due to financial data theftĭespite being one of the most common types of damages associated with phishing, reputational damage is normally overlooked when discussing phishing damages.The damages associated with phishing are: What types of damages can phishing cause?įor what may seem like an insignificant risk to those without cybersecurity training, phishing can be fairly destructive with more types of damage than you expect. This trend has continued, with COVID-19 and other assorted pandemic phishing attempts flooding the internet.From 2018 to 2019, there was a 65% jump in phishing attempts.Of those targeted by phishing, 30% open the phishing message.76% of businesses report being on the receiving end of a phishing attack.

The average cost of these data breaches is US $3.92 million.

Phishing is the cause of 90% of data breaches.

Below are some useful statistics for grasping the impact of phishing today: Phishing is still a top priority for many organization IT departments and security teams, regardless of the fact that phishing has been around for decades. The information can then be used by the phishers to steal money and wreak all manner of havoc against the victim. This sensitive information includes login credentials (such as usernames and passwords), financial information and other personal information. Phishing refers to the fraudulent attempt to steal sensitive information from victims, usually beginning with an email.

Phishing is a term that has been all over the place in recent years, due its meteoric rise alongside the rise of widespread internet use in society.

Patterno reputation damaged