Intelligent CIO Africa Issue 24 | Page 14

LATEST INTELLIGENCE PRESENTED BY Download whitepaper here T oday’s email attacks have evolved. Unfortunately, most security tools haven’t evolved with them. Attackers are moving and adapting faster than most cyberdefences. They’re bypassing security tools with new techniques and delivery methods. And some are avoiding legacy controls altogether through novel attacks that don’t use malware at all. Partner spoofing attacks, where a fraudster pretends to be an organisation’s trusted vendor, are also growing. Email fraud, sometimes called business email compromise (BEC), is one of them. Cybercriminals can easily spoof executives and business partners to trick people into sending money and other valuable information. These attacks are sophisticated and highly targeted. They exploit people, not technology. And stopping them requires a new people-centred approach. This growing threat has cost victims more than $5.3 billion since the FBI began tracking it in late 2013. The average attack nets about $130,000. 14 INTELLIGENTCIO In just one example, a Lithuanian man has been accused of stealing more than $100 million in separate attacks on Google and Facebook in July 2017. The man allegedly spoofed a vendor in the companies’ supply chains. Proofpoint Advanced Email Security uses a multilayered defence to stop unsafe email from reaching people’s inboxes – and keep sensitive information in your environment when something goes wrong. n www.intelligentcio.com