A simple yet effective method for protecting your mail server from spam is to use greylisting. In simple terms, when an email is received the server will temporarily reject it with a 450 response code claiming that the server is busy, the sending server should then attempt to try to deliver at a later point in time, if enough time has passed the recipient server will then accept the incoming mail and whitelist the send address for a period of time.

This is effective because most spam servers are configured not to retry the send whereas real mail servers generally will retry. This sadly does not protect against spam coming from comprised mail servers or accounts like on Hotmail.com.

sudo apt-get install postgrey