Phishing Costs Firms $10.5B Annually — Here Is Why It Keeps Working
Phishing attacks cost organizations $10.5 billion in 2022, a figure that rose from the prior year despite widespread email security improvements and awareness training. Experts attribute phishing's persistent success to its exploitation of human psychology, including authority bias, urgency-induced tunnel vision, and visual familiarity with trusted brands. Attackers have also evolved technical tactics such as subdomain spoofing, homograph domain tricks, and context-harvested personalization to bypass modern filters. Conventional annual phishing simulations largely fail because skills learned in low-stress test environments do not transfer to real, distracted work conditions. Security professionals recommend practical workflow changes — including password managers, app-based two-factor authentication, and independent verification of unusual requests — as more effective defenses.
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