VERY IMPORTANT

During Q2 2026, Microsoft detected approximately 7.6 billion email-based phishing threats, with monthly volumes declining from 2.7 billion in April to 2.4 billion in June. The quarter was significantly shaped by the downstream effects of Microsoft's Digital Crimes Unit disruption of the Tycoon2FA phishing-as-a-service platform in March, resulting in a 92% decline in associated phishing volume. QR code phishing attacks peaked at 18.7 monthly attacks in March before declining 48% by June, while CAPTCHA-gated phishing fell 81% from its March high. Credential phishing remained the dominant objective, accounting for 94-96% of all payload-based attacks. Business email compromise activity returned to historical norms after an anomalous April surge. Microsoft Teams-based threats grew substantially, with weekly malicious call attempts reaching nearly ten times the mid-2025 baseline by quarter end.