Why Spear Phishing is Successful!
I have discussed phishing and spear phishing on this site a number of times and the differing methods only seem limited by a criminal’s imagination. As a review, spear phishing differs from other forms of phishing in that a specific company or user(s) is targeted. A recent study done by Cisco found that spear phishing is much more profitable than other forms.
According to the report, there is a considerable difference in the success rate of the two types of phishing. Reportedly, if a criminal sends out one million phishing emails, approximately three percent of the emails will be opened, and he will net about eight victims. It will cost about $2000 to send these phishing emails in order to make about $16,000 from the eight victims, resulting in a $14,000 profit. While this sounds like a profitable venture, spear phishing is much more worthwhile.
If a scammer sends out a thousand spear phishing emails geared toward a very narrow target market at a cost of $10,000, approximately seventy percent of the emails will be opened compared to the three percent of normal phishing emails that are opened. On average, the criminal will usually net two victims, obtaining about $160,000 from the two victims. While the investment of time and money on the criminal’s end is usually higher, the return on his investment is also much higher since he nets $150,000 compared to the phishing $14,000.
So you should always be aware and cautious of the many methods of phishing and spear phishing. Never volunteer information or make payments in response to an email until the sender has been found to be legitimate and the email is verified.
Post from: Business Security Information © 2011
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