How Phishing Simulation Works & What Are Its Benefits?

In 2019, Capital One, one of the largest banks in the United States, suffered a significant data breach that exposed the personal information of over 100 million customers. The breach was the result of a sophisticated phishing attack that allowed a hacker to exploit a misconfigured firewall. This incident led to massive financial loss, legal battles, and severe damage to Capital One’s reputation. The breach highlighted the ever-present threat of phishing attacks and the devastating consequences they can have on even the most secure organizations.

Phishing attacks have been on the rise, with cybercriminals becoming increasingly sophisticated. According to the FBI’s Internet Crime Complaint Center (IC3), phishing attacks accounted for over $54 million in losses in 2022 alone, with thousands of businesses falling victim to these schemes. Phishing can take many forms, including email phishing, spear phishing, whaling, and smishing, and unlike what they sound like, they have nothing to do with actual fishing. Instead, each has its own deceptive tactic aimed at tricking individuals into revealing sensitive information or installing malicious software.

Here’s a quick run-down:

Email phishing: A widespread attack where cybercriminals send deceptive emails to trick recipients into revealing sensitive information or clicking on malicious links.

Spear phishing: A targeted phishing attack aimed at a specific individual or organization, often personalized to increase the likelihood of success.

Whaling: A form of spear phishing that targets high-profile individuals like CEOs or CFOs, often with the aim of gaining access to sensitive corporate information.

Smishing: Phishing attacks conducted via SMS text messages, where attackers try to deceive recipients into clicking malicious links or sharing personal information.

How do you prevent phishing with phishing simulations?

Phishing simulation is the equivalent of training your organization and employees to identify and report potentially suspicious emails that may compromise your business’s security posture. It changes the security posture of your organization fundamentally by doing the following:

• Improving employee awareness: Regular phishing simulations help to keep employees alert and aware of the tactics used by cybercriminals. As employees learn to recognize phishing attempts, they become less likely to fall victim to real attacks. Trained employees can easily identify mistakes and giveaways in a potentially fraudulent email. From a junior employee to a senior manager, everyone can be targeted for a phishing attack. Phishing simulations help train your organization from the bottom to the top, preventing incidents from happening with awareness.
• Strengthening critical departments: Simulations allow companies to identify the employees or departments most vulnerable to phishing attacks. This insight enables targeted training and reduces the overall risk of a successful phishing attack. Certain departments in your organization like Finance and IT have broad access to resources within your business. This makes employees from these departments prime targets; phishing simulation helps employees from these departments become more aware of attempts made to gain access to their systems. It also prevents incidences by giving leadership visibility into where potential breaches may come from, with a chance to place extra checks on broad stroke actions taken from these critical departments.

What is a phishing simulation?

Phishing simulation is a proactive cybersecurity practice where an organization sends simulated phishing emails to its employees to test their awareness and responsiveness to such threats. The goal is to educate employees about the dangers of phishing and to identify areas where additional training or awareness is needed. A successful phishing simulation not only measures an organization’s vulnerability to phishing attacks but also reinforces a culture of vigilance and cybersecurity awareness.

How to go about implementing phishing training?

 Implementing a phishing simulation and training program involves several critical steps to ensure effectiveness and provide actionable insights. Here’s a comprehensive approach:

Planning and Goal Setting

The first step is to define the objectives of the phishing simulation. Determine what the organization hopes to achieve, such as measuring overall vulnerability, assessing the effectiveness of current training programs, or identifying high-risk groups within the organization. Clear goals must be established to guide the simulation process.

Selecting the Right Simulation Tool

Choosing a reliable phishing simulation tool is crucial. The tool should offer customization options to create realistic phishing scenarios, track employee responses, and generate detailed reports. It should integrate seamlessly with the company’s existing cybersecurity infrastructure and provide ongoing updates to keep up with the latest phishing tactics used by cybercriminals.

Designing Effective Phishing Scenarios

Next, create realistic phishing emails that mimic common phishing tactics. Scenarios should be crafted based on the organization’s specific context, using familiar language and branding to make the simulation authentic. Scenarios should range in complexity, from basic credential harvesting attempts to more sophisticated spear phishing, to test different levels of employee awareness.

Scheduling and Launching the Simulation

Once the phishing emails are ready, the simulation should be launched at random intervals and sent to various departments to simulate real-world conditions. Employees should not be aware that a simulation is taking place to ensure their responses are genuine. This unpredictability mirrors real phishing attacks and ensures the simulation accurately measures employee awareness and response.

Monitoring, Analyzing, and Reporting Results

After the simulation, monitor how employees interact with phishing emails. Analyze metrics such as the click rate, submission of credentials, and reporting of phishing attempts. The results should be compiled into a comprehensive report that highlights the organization’s strengths and weaknesses in dealing with phishing threats, including which departments or individuals are most at risk.

Tailored Training and Continuous Improvement

Based on the results, conduct tailored training sessions to address the identified vulnerabilities. Phishing training should be an ongoing process, reinforced with regular updates and continuous assessments to ensure employees stay vigilant against evolving threats. This comprehensive approach mitigates immediate risks and strengthens the organization’s overall security posture.

How does a phishing simulation benefit your organization?

A phishing simulation reduces the incidence of an actual event happening in your organization, it creates an environment that improves the cybersecurity posture of your organization. Some of the ways you can see the benefits of a phishing simulation exercise are in-

• Measurable improvements: By comparing results from successive phishing simulations, companies can measure the effectiveness of their cybersecurity training programs. Continuous improvement in employees’ responses indicates that the training is working, better scores translate into fewer real-world incidents.
• Increased regulatory compliance: Many industries require regular cybersecurity training and testing as part of their regulatory compliance. Phishing simulations help companies meet these requirements and demonstrate their commitment to cybersecurity, but it’s not just a box that needs to be checked, phishing simulation also has the tangible effect of improving trust with your core clients.
• Reduction in actual incidents: The ultimate benefit of phishing simulations is a reduction in real-world phishing incidents. By identifying and addressing vulnerabilities before cybercriminals can exploit them, companies can avoid the costly consequences of a data breach. The average cost of a data breach now being $4.88 Million, this cost can be completely avoidable if employees of an organization are trained well.

Best practices to follow for a phishing simulation:

It’s important to follow best practices to maximize the effectiveness of phishing simulations:

• Continuous training: phishing simulations should be part of an ongoing training program rather than a one-time event.
• Clear communication: After the simulation, communicate the results to the entire organization and emphasize the importance of vigilance.
• Tailored training: Use the simulation results to provide targeted training to employees more vulnerable to phishing attacks.
• Positive reinforcement: Encourage employees who correctly identify phishing attempts and report them. Positive reinforcement can motivate others to follow suit.

Our recommendation: use a trusted partner

To maximize the effectiveness of phishing simulations and ensure your organization is well-protected against phishing threats, it’s essential to partner with a trusted provider. SISA, a global leader in cybersecurity, offers comprehensive phishing simulation services designed to strengthen your organization’s security posture. With SISA, you gain access to expertly crafted phishing scenarios, detailed reporting, and tailored training programs that address the specific needs of your organization.

SISA’s phishing simulation services go beyond just testing your employees; they are designed to educate and empower them, turning your workforce into a formidable line of defense against phishing attacks. SISA’s team of experts will work with you to design and implement a phishing simulation program that aligns with your organizational goals and security requirements. By partnering with SISA, you ensure that your organization is not only prepared to face phishing threats but is also actively working to prevent them from occurring.