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With phishing and social engineering being involved in 80% of data breaches, phishing is frequently the first phase of a cyberattack. Sensitive information may be exposed in a single phishing scam, with a serious legal and financial impact.
Successful phishing attacks can result in financial losses through stolen funds, data breaches, and the cost of investigation and remediation. IBM reported an average cost of $4.91 million per data breach.
A phishing attack can damage an organization's reputation, leading to loss of customer trust and potential business losses.
