Abnormal Security, a leader in AI-native human behavior security, has released a comprehensive report on advanced email threats in the Asia-Pacific (APAC) region. The findings reveal a significant rise in phishing and business email compromise (BEC) attacks targeting organizations in Australia, New Zealand, Japan, and Singapore from January 2023 to December 2024.

1. Rising Email Threats in APAC

• The APAC region witnessed a 26.9% increase in advanced email attacks between 2023 and 2024.
• Attack volumes grew from 472 to 600 per 1,000 mailboxes monthly.
• Significant quarterly increases were observed in 2024:
  • 16% rise from Q1 to Q2.
  • 20% rise from Q2 to Q3.

2. Phishing Attacks Lead the Surge

• Phishing incidents saw a 30.5% year-over-year rise across APAC.
• Regional spikes:
  • Japan and Singapore: 37% increase.
  • Australia and New Zealand: 30% increase.

3. Business Email Compromise (BEC) Growth

• BEC attacks grew by 6% year-over-year in APAC.
• Despite slower growth, these attacks are high-risk:
  • Average financial loss per attack: $137,000.
  • Global losses in 2023: $2.9 billion.
• BEC attacks rely on social engineering, making them harder to detect with traditional security tools.

4. Factors Driving the Surge

• APAC countries’ roles in trade, finance, and defense make them prime targets.
• Attackers exploit economic dynamics and seek sensitive data from critical industries.

5. Need for Advanced Defenses

• Advanced solutions that detect and block threats in real-time are crucial.
• Businesses must prioritize investing in intelligent security tools to combat these sophisticated threats.

The APAC region is becoming a focal point for advanced email threats, with phishing and BEC attacks on the rise. Organizations must strengthen their defenses by implementing AI-driven security solutions to mitigate risks and safeguard against financial and reputational damage.