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Companies may be measuring phishing resilience the wrong way
Pistachio's 2026 report analyzing 648 organizations finds click rates alone mislead; combining clicks, credential submission, and reporting better measures phishing resilience.
Pistachio's Phishing Behaviour Report 2026 analyzed 648 organizations and 123,692 users across 354,962 simulations between June 1, 2025 and May 31, 2026. It found click and credential-submission rates rose during the first six months of training before declining, and from the six-month peak to the 12-month stage clicks fell 27% while credential leaks dropped 41%. The report-to-click ratio increased from 1.3 at three months to 1.8 at 12 months, framing employees as an active detection channel. Departmental analysis showed Construction had the highest cumulative click rate (41.31%) and Health the lowest report rate (13.17%), supporting more targeted training.
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Phishing 3.0: The Fight Moves to Agent Versus Agent
Agentic AI transforms phishing economics, enabling personalized multi-channel attacks with deepfakes like the $25M Arup deepfake heist.
The article argues phishing has evolved through three stages: from malicious content, to intent-based BEC, to AI-powered multi-channel campaigns where attacker agents autonomously conduct reconnaissance and generate tailored lures. The widely reported Arup case saw a deepfake video call impersonating colleagues convince an employee to approve transfers worth roughly $25 million. An Osterman Research study of 128 security leaders found 88% experienced trust-undermining incidents, while Microsoft 365 EOP and Google Workspace were measured missing hundreds of phishing messages per 100 mailboxes monthly. The author argues defenders must adopt their own agents to match attacker speed.
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