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The rate of mobile phishing aimed at businesses grew by 37% by the end of March 2020

Business-grade phishing poses business-grade risks. (Source: Pixabay)
Business-grade phishing poses business-grade risks. (Source: Pixabay)
The security group Lookout has released the results of its latest study of fraud that targets phones or tablets owned by enterprises. It found that the number of such incidents grew by 37.1% between the last quarter of 2019 and the first of 2020. Even just one of these attacks can cost businesses millions of dollars.

Lookout has published its study of corporate-focused mobile phishing for the fourth quarter of 2019 (4Q2019) through the first quarter of this year (1Q2020). It has concluded that the rate at which these incidents occurred increased by 37.1% worldwide for the time-frame in question.

When broken down by region, these rates grew by 27.7% in Asia Pacific, 25.5% in EMEA and 66.3% in North America. Lookout also found that the consequences of even just 1 such encounter could cost a company running 10,000 mobile devices up to US$35 million, whereas one with 50,000 phones or tablets stood to lose as much as $150 million as a consequence of the same.

These attacks have extended beyond the traditional fraudulent email to messages sent via social media, SMS and other relevant apps. The security group also cited the rise of remote or at-home working and mobile UIs as prominent factors affecting the risks of professionally-directed phishing.

These interfaces may include fewer options or pathways to verify and validate links sent via various platforms, thus potentially improving the chances of company infiltration and the resulting theft of data or funds. Therefore, phishing awareness and training to be employed in the workspace may be highly recommended to enterprises of all kinds these days.


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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2020 06 > The rate of mobile phishing aimed at businesses grew by 37% by the end of March 2020
Deirdre O'Donnell, 2020-06- 2 (Update: 2020-06- 2)