Mimecast, an email security company, released its 2023 State of Email Security report detailing the risks faced by businesses in the form of email-borne attacks and the need to increase the response due to the growing sophistication of those attacks.

The SOES report was compiled by interviewing 1,700 information technology and cybersecurity professionals on the type and volume of attacks experienced and the security measures businesses currently have in place. The report’s biggest takeaways included that cyber threats stand to result in $8 trillion of losses worldwide this year, with 33 billion records stolen. According to the report, the average cost of a data breach worldwide is $4.35 million, but more than double that in the United States at $9.44 million.

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