New research has revealed mobile phishing has increased by 37% in Q1 2020 compared to Q4 2019 with much of this rise a result of cybercriminals targeting the millions of those working from home due to the coronavirus pandemic that has plagued the world.

The Mobile Phishing Spotlight Report also detailed the costly nature of mobile phishing attacks as an organisation with 10,000 mobile devices could suffer up to $35m for a single mobile phishing incident, or up to $150m for an organisation with 50,000 mobile devices.

With more sensitive data and information being transferred through mobile phone devices, it is no wonder these have become a favourable target for cybercriminals, especially during the COVID-19 pandemic where there is now a reliance on the workforce to use personal devices while at home.

David Richardson, vice president of product management at Lookout said, “smartphones and tablets are trusted devices that sit at the intersection of their owner’s personal and professional identity. Cybercriminals are exploiting the ability to socially engineer victims on their mobile device in order to steal their credentials or sensitive private data.”

The report also looked it the industries most impacted by mobile phishing with healthcare/hospitals (16%) the most affected given the high value of the sensitive information contained within their systems. Then, when examining the regional impact compared to Q1 in 2019 to Q1 in 2020, it is clear mobile phishing is a growing global issue as APAC incidents rose by 28%, North America by 66% and EMEA by 26%.

“Phishing has evolved into a massive problem that expands far beyond the traditional email bait and hook,” stated Phil Hochmuth, program vice-president of enterprise mobility at IDC. “On a small screen and with a limited ability to vet links and attachments before clicking on them, consumers and business users are exposed to more phishing risks than ever before. In a mobile-first world, with remote work becoming the norm, proactive defense against these attacks is critical.”

Gain a better understanding of how to protect mobile users in this upcoming webinar with Lookout, ‘Why managing your mobile endpoints is not securing your mobile endpoints’, Live online Jun 10 12:00 pm – register here: https://www.brighttalk.com/webcast/11399/410815

 

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