81% of Singapore IT Professionals concerned about email-based attacks, according to Phishing Trends Report

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 Findings show that 95% of respondents have dealt with security incidents originating from deceptive emails, yet 63% feels inadequately prepared to respond to such threats.  

SINGAPORE – October 27th, 2017 – Today PhishMe®, the leading provider of human phishing defence solutions, released the results of its Singapore Phishing Response Trends Report, which looked at the phishing response strategies of IT security decision-makers across a variety of industries in the Singapore region.

The report highlights that despite technology investments, Singapore-based organisations are flooded with suspicious emails targeting employees. With 80% reported to be utilising anti-malware solutions and 76% email gateway filtering to prevent phishing threats, 63% of surveyed organisations still feel ill-prepared to process and adequately respond to such threats.

According to the Ponemon Institute, malicious or criminal attacks account for 40% of data breaches in Southeast Asian nations like Singapore, with the number of yearly attacks averaging 21,000. Compared to phishing response trends emerging from the US and the UK, Singapore organisations claimed to be more unprepared to combat phishing attacks despite having dealt with more email-related incidents.

Key findings from the survey include:

  • 95% have dealt with security incidents originating with a deceptive email
  • Nearly 70% have faced an email threat more than once
  • Over a quarter of respondents see more than 500 suspicious emails weekly
  • Nearly all respondents have between one and four security layers already in place
  • Email-related threats are Singapore’s biggest security concern
  • Almost 60% of respondents highlighted technology alone isn’t the answer to phishing
  • 96% of surveyed IT professionals plan to upgrade their phishing response and prevention

“Phishing has become the number one attack vector and a rising concern for security professionals globally. The sophistication of recent scams in Singapore involving the Immigration and Checkpoints Authority (ICA) as well as local airlines, is a clear testimony of how technology alone is unable to prevent modern breaches,” stated Rohyt Belani, CEO and Co-Founder at PhishMe. “With the number of phishing attacks growing exponentially, it is imperative for any organisation to embrace a human-focussed approach geared towards enabling employees to identify suspicious indicators.”

The full report is available for download here: https://cofense.com/phishing-response-trends-singapore

To learn more about PhishMe’s phishing incident solutions, please visit: cofense.staging.wpengine.com

Survey Methodology

This study was commissioned by PhishMe and delivered by Censuswide, an international market survey consultant. Censuswide surveyed one hundred select IT professionals, largely senior decision-makers, on phishing response strategies. The sample represented firms belonging to a variety of industries including business services, high tech, manufacturing, healthcare, financial, retail & wholesale trades, transportation, consumer services and telecommunications. All participants joined voluntarily and no telemarketing techniques were implemented.

About PhishMe

PhishMe is the leading provider of human-focused phishing defence solutions for organisations concerned about their susceptibility to today’s top attack vector — spear phishing. PhishMe’s intelligence-driven platform turns employees into an active line of defence by enabling them to identify, report and mitigate spear phishing, malware and drive-by threats. Our open approach ensures that PhishMe integrates easily into the security technology stack, demonstrating measurable results to help inform an organisation’s security decision-making process. PhishMe’s customers include the defence industrial base, energy, financial services, healthcare and manufacturing industries, as well as other Global 1000 entities that understand how changing user security behaviour will improve security, aid incident response and reduce the risk of compromise.

Source: Ponemon Institute’s 2017 Cost of Data Breach Study: Global Overview (https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=SEL03130WWEN)

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