Verint InTouch

Cyber Intelligence

How Vulnerable Is Your Brand?

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Terms such as ATM skimming, identity theft, data breaches, scams, kiting, and phishing are becoming all too prevalent in today’s society.

In just the last five years we’ve seen large, well-known retail and financial services organizations attacked by hackers and other nefarious individuals looking to steal personal information, transactional data or even funds from those that do business with these organizations. 

CBS News recently reported that instances of ATM skimming rose 546% from 2014 – 2015 nationwide.  And, according to Identity Theft Resource Center (ITRC) there were 781 data breaches recorded in 2015 in the U.S., representing the second highest year on record since ITRC began tracking breaches in 2005.

This rising trend becomes even more concerning when you pair it with the findings of a recent research study that examined consumer attitudes toward corporate hacking.  That study, conducted by Centrify, found that 66 percent of adults in the U.S. are at least somewhat likely to stop doing business with a company that has suffered a cyberbreach. That number is even higher in the United Kingdom, where 75 percent said they are somewhat likely to stop doing business after a hack.

The reality is that data breaches and other fraudulent activity can adversely impact a company’s brand reputation and, ultimately, a consumer’s loyalty to that brand.  The good news is that with each breach or incident, organizations are becoming more aware of their vulnerabilities and taking action to remediate those risks. 

However, the bad news is that criminals continue to become more sophisticated in their approach, so it’s imperative that organizations explore and adopt new tools and technology to address the evolving security landscape.

Organizations need a comprehensive security strategy that takes into account and incorporates collaboration across those responsible for physical, IT and cyber security.  That strategy must also include advanced data analytics to deliver better insight and situational awareness of threats to the organization.

Learn more more about how Verint is helping customers develop and execute a comprehensive security strategy to address today’s evolving security landscape. 

 

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