Phishing attacks surge in 2024 as cybercriminals adopt AI tools and multi-channel tactics

• Phishing attacks are becoming more complex and harder to detect
• Attackers are using new techniques such as QR codes and deepfakes
• Some businesses are receiving 36 phishing emails per day

Phishing attacks are consistently on the rise and becoming more sophisticated, as cybercriminals no longer rely solely on basic email schemes, instead incorporating new tactics such as QR code phishing (quishing), AI-powered attacks, and multi-channel phishing to enhance their effectiveness.

A new Egress report has revealed phishing attacks spiked in the second quarter of 2024, with a 28% rise in the number of phishing emails compared to the first quarter.

Phishing attacks are also becoming more sophisticated. Cybercriminals now use a variety of new tactics to bypass secure email gateways (SEGs) and native defenses like Microsoft 365’s security features. In Q2 2024 alone, there was a 52.2% increase in phishing attacks that successfully bypassed SEG detection.

Commodity attacks – a mass-produced threat

One type of phishing that has seen a notable increase in 2024 is commodity attacks. These are mass-produced, malicious campaigns that impersonate well-known brands on a large scale to trick users into clicking on fake promotions, images, or hyperlinks.

The report reveals that during these attacks, organizations experience a staggering 2,700% increase in phishing attempts, with organizations over the 2,000 employee mark would have to deal with over 1,128 phishing emails over 31 days, which is about 36 phishing emails per day. The sheer volume of these attacks can overwhelm many companies’ security systems, making it increasingly difficult to prevent every malicious email from reaching an…