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Further, Verizon's 2014 Data Breach Investigations Report shows that phishers have an 80 percent success rate (at least one targeted victim clicks the malicious link) when they send a campaign twice.
Devine added that hackers use spear phishing to steal customer information, which constitutes a data breach. Recovering from a breach can be costly for both a business and any IT professionals involved. State laws may require the business to notify affected customers, offer credit monitoring services, or pay fines – all of which cost money. If a breached business doesn't have
TechInsurance suggests that network security professionals take three key steps to prevent client losses from spear phishing:
- Understand the evolving risks. Spear phishing emails pull information from social media to target their messages and increase the likelihood of clicks.
- Educate clients. Phishers often disguise malicious emails with words like "Re:" "Payment" and "Order." These aren't Nigerian prince emails – they're more sophisticated, meaning even savvy email users can fall prey.
- Update insurance.
Professional Liability Insurancecan pay for legal defense fees when a consultant is sued over responsibility for enabling or failing to prevent a spear phishing data breach.
For more information about spear phishing, see TechInsurance's blog post, Re: Your Recent Spear Phishing Attack.
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