The PhishLabs Blog

How and Why You Should Calculate Your Organization's Cost of Phishing

Posted by Jenny Dowd on Nov 15, '16

Everybody knows phishing is costly to their organization. 

But how costly? Few organizations know for sure.

Plenty of studies have claimed to calculate the cost of phishing, but the results are usually hard to swallow. For instance, does phishing cost your organization $1.6 million per incident? Or $3.7 million per year?

Perhaps... but probably not.

The issue with these figures is that they're averages, heavily skewed by data from huge organizations. The results may be interesting, but they're of little use to most organizations.

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Topics: Phishing, Spear Phishing, security awareness training, cost of phishing

   

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The PhishLabs Blog is where we share our insights and thoughts on cybercrime and online fraud.

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