E-Business
How Cybercriminals Target Corporate email
Phishing attacks are among the most widespread and effective tactics used by cybercriminals against business.
These schemes aim to deceive employees into disclosing sensitive information, such as login credentials or financial data, by posing as legitimate sources.
While phishing attacks come in various forms, they often target corporate email systems due to the wealth of valuable information they hold. To assist businesses in bolstering their defenses against potential breaches, Kaspersky is unveiling the anatomy of a phishing attack.
According to Mimecast’s ‘The State of Email Security 2023’ report, 83% of CISOs surveyed see email as the primary source of cyberattacks. The recent case of Pepco Group demonstrated the severe consequences that phishing attacks can inflict on a business.
At the end of February, the retail company reported that its Hungarian subsidiary had fallen victim to a sophisticated phishing attack. As a result of this strike, Pepco Group lost approximately €15.5 million in cash. This incident highlights the expanding threat posed by cybercriminals, emphasising the critical need for organisations to strengthen their cybersecurity defenses.
In 2023 Kaspersky’s anti-phishing system thwarted over 709 million attempts to access phishing and scam websites, marking a 40% increase compared to the previous year’s figures.
In response to this pressing issue, Kaspersky experts cover the way phishing attacks are conducted.
- Cybercriminals’ motivation
Phishing attacks stem from cybercriminals motivated by various factors. Primarily, they seek financial gain by unlawfully acquiring sensitive information like credit card details or login credentials, which can be sold or used for fraudulent transactions. Additionally, some are motivated by political or ideological agendas, or by the purpose of espionage. Despite the differing motivations, these attacks pose severe risks to businesses.
- The initial approach
Phishing attacks typically begin with cybercriminals crafting fraudulent emails designed to lure recipients into taking action. These emails often mimic legitimate communications from trusted sources, such as colleagues, business partners or reputable organisations. To enhance credibility, attackers may employ tactics like spoofing sender addresses or replicating corporate branding.
The situation is further exacerbated by the emergence of AI-powered phishing attacks, leveraging sophisticated algorithms to create highly convincing and personalised phishing emails. This exacerbates the challenge of detecting and combating such threats.
- Deceptive content and techniques
Central to the success of phishing attacks is the exploitation of human vulnerabilities. Cybercriminals leverage psychological manipulation techniques, compelling victims to act impulsively without thoroughly evaluating the email’s legitimacy.
Phishing emails employ various strategies to deceive recipients and elicit desired responses. Common techniques include:
False pretenses: Emails may claim urgency or importance, urging recipients to act quickly to avoid purported consequences or to seize perceived opportunities.
Social engineering: Attackers personalise emails and tailor messages that resonate with recipients’ interests, roles, or concerns, increasing the likelihood of drawing in the victim.
Malicious links and attachments: Phishing emails often contain links to fraudulent websites or malicious attachments designed to harvest credentials, install malware, or initiate unauthorised transactions.
- Evading detection
To evade detection by email security filters and anti-phishing solutions, cybercriminals consistently refine their tactics and adapt to evolving cybersecurity measures. They may employ obfuscation techniques, encryption methods, or URL redirection to bypass detection and enhance the effectiveness of their attacks.
- Consequences of successful phishing attacks
When phishing attacks succeed, the consequences can be severe for organisations. Breaches of corporate email systems can lead to unauthorised access to sensitive data, financial losses, reputational damage, and regulatory non-compliance. Moreover, compromised email accounts can serve as footholds for further cyberattacks, such as Business Email Compromise (BEC) or data exfiltration.
Mitigation strategy
Safeguarding against phishing attacks targeting corporate email systems, means organisations must implement robust cybersecurity measures while educating employees about phishing awareness and best practices.
Effective mitigation strategies include employee training, the introduction of multi-factor authentication, the formulation of incident response plans, and the deployment of advanced email filtering and security solutions.
“In today’s dynamic threat landscape, businesses face an ever-growing array of cyber risks, with email-based attacks posing a particularly insidious threat. At Kaspersky, we recognise the critical importance of equipping organisations with robust cybersecurity solutions to help businesses defend themselves against these evolving threats.
“Our Kaspersky Security for Mail Server combines advanced content filtering capabilities with cutting-edge machine learning technology to provide unparalleled protection for corporate mail systems even against evolving AI-powered phishing attacks.
“By leveraging our solutions, businesses can proactively defend themselves against phishing attacks and other malicious threats, ensuring the security and integrity of their sensitive data,” comments Timofey Titkov, Head of Cloud & Network Security Product Line at Kaspersky.
Nigeria has taken a major step toward strengthening its digital governance framework as the National Information Technology Development Agency (NITDA) officially assumes control of the Nigeria Government Enterprise Architecture (NGEA) infrastructure.
The handover ceremony held in Abuja, marks the culmination of a high-level partnership with the Korea International Cooperation Agency (KOICA).
This transition signals a shift from fragmented IT projects to a unified, disciplined approach to national digital investment.
The NGEA initiative forms a core part of the e-Government Masterplan 2.0 (Ne-GMP 2.0), aimed at establishing a unified and structured approach to managing government IT investments and digital resources.
The framework is designed to ensure that technology deployment across public institutions aligns with national priorities while improving efficiency and accountability.
With the system now operational, government agencies are expected to adopt more integrated digital processes, allowing seamless data sharing and interoperability.
This is anticipated to reduce duplication, strengthen risk management, and translate policy objectives into measurable digital outcomes.
Over the past two and a half years, Nigerian technical experts worked closely with their Korean counterparts to develop the architecture framework, create reference models, and execute pilot programmes in key institutions.
These include the National Identity Management Commission, Nigeria Customs Service, Nigeria Immigration Service, and NITDA.
Officials say the NGEA represents a shift from fragmented digital efforts to a more coordinated, citizen-focused system.
The infrastructure is hosted by Galaxy Backbone Limited, providing a secure and reliable platform for nationwide deployment.
Looking ahead, NITDA is expected to work with government stakeholders to expand and sustain the system, while the Federal Ministry of Communications, Innovation and Digital Economy will provide policy guidance to ensure its adoption across the country.
Bosun Tijani, minister of Communications, Innovation and Digital Economy, has said the government is shifting focus from expanding access to ensuring “meaningful connectivity” that drives economic growth and inclusion.
Bosun Tijani, minister of Communications, Innovation and Digital Economy
The minister made the statement on Friday while addressing stakeholders at the inauguration of board members of the Universal Service Provision Fund (USPF) in Abuja.
He said that although Nigeria had made significant progress since the introduction of GSM services, millions of people, particularly in rural and underserved communities, remain either unconnected or unable to fully benefit from digital services.
Dr Tijani highlighted ongoing investments in digital infrastructure, including plans to deploy 90,000 kilometres of fibre optic network and nearly 4,000 telecom towers nationwide.
He said initiatives under the USPF had improved access through projects such as rural connectivity and digital facilities in schools but stressed that the next phase must prioritise effective usage.
“It is not enough to connect a community. We must ensure that schools can teach with digital tools and that small businesses can access market opportunities,” he said, citing a pilot project in the Kura community where connectivity has enhanced access to communication, education and healthcare.
Aminu Maida, executive vice chairman, Nigerian Communications Commission (NCC) also called for a shift towards meaningful connectivity, noting that while data usage had grown significantly, it remained concentrated in urban areas.
According to him, recent data shows that telecom usage has increased by about 160% over the past two years, largely driven by urban demand.
“When we drill down, we see that a lot of that growth is actually in urban centres. So, the gap between those who are not connected or not meaningfully connected is growing,” he said.
Dr Maida added that the trend underscored the need for the USPF board to intensify efforts to bridge both access and usage gaps across the country.
Both officials emphasised the importance of collaboration, sustainable investment models and improved digital literacy to ensure that connectivity translates into real economic benefits for Nigerians.
A jury in Los Angeles has found technology companies, Meta and Google liable for contributing to a young woman’s social media addiction, in a case being described as a landmark ruling.
The 20-year-old woman, identified only as Kaley, argued that she became addicted to Google’s YouTube and Meta’s Instagram from an early age due to their attention-driven design features.
According to her testimony, she began using YouTube at the age of six after downloading the app on her iPod Touch to watch videos about lip gloss and online games.
Kaley told the court that she joined Instagram at nine, bypassing parental restrictions put in place by her mother, and spent extended periods on social media.
The trial, which lasted about a month, with arguments and evidence from both sides.
Jurors also heard testimony from Mark Zuckerberg, chief executive, Meta and Adam Mosseri, Instagram head.
However, Neal Mohan, YouTube chief executive, did not testify.
The jury found that the companies were negligent in the design of their platforms and failed to adequately warn users about potential harms. Meta and Google were ordered to pay the woman $3 million in damages.
Jurors also recommended additional punitive damages, including $900,000 against YouTube and $2.1 million against Meta, according to company spokespersons.
The jury apportioned 70 per cent of the responsibility to Meta and 30 per cent to YouTube.
Kaley was present in the courtroom when the verdict was delivered, alongside parents of other teenagers who say they were harmed by social media use. Both companies said they plan to appeal the decision.
“We respectfully disagree with the verdict and will appeal. Teen mental health is profoundly complex and cannot be linked to a single app. We will continue to defend ourselves vigorously as every case is different, and we remain confident in our record of protecting teens online”, a Meta spokesperson said.
José Castañeda, Google spokesperson, said the case misunderstands YouTube, which is a responsibly built streaming platform, not a social media site.
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