Cybercriminals have become increasingly sophisticated in their attacks; a trend that certainly shows no sign of slowing creates an urgent problem for brands and their customers to address.
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According to a recent study, 29% of global consumers have suffered a data breach over the last year, while 27% have fallen victim to fraud. Of those who have suffered fraud, almost half (49%) had money stolen. As businesses reflect on the year that was and enter 2022, what lessons can they learn and apply to restore consumer-brand trust?
It Doesn’t Have to Be a Lonely Fight for Brand Protection
With 55% of consumers believing companies are not doing enough to protect their data, a pressing change of tact is needed. The onus is on brands to ensure authenticity and safeguard their customers online.
As cyberattacks become more complex, so must the steps taken by companies to protect their integrity in the e-commerce landscape.
Harnessing technology providers with expertise in brand protection is a great way of dealing with the growing problem and safeguarding consumers online this year and beyond. Through partnerships with such providers, brands can not only identify anomalies much quicker, but also conduct better analyses of scammers’ infrastructures, leading to more fraudulent sites shutting down and cybercriminals exposed. A trusted partner will help brands create a safer online shopping environment for customers through the continuous monitoring of online content, URLs, and hostnames, shining a bright light on criminal activities and intervening swiftly before an attack takes place.
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A Weapon of on-Product Authentication
Utilizing the tools, time and know-how that brand protection partners offer will also help expose crucial touch-point metadata where the supply chain might be allowing counterfeit goods to infiltrate it as a result of cyberattacks. Various on-product authentication tools such as human-readable numbers, barcodes, NFC scans and hangtags provide the additional layer of security for maximum supply chain visibility.
Brand protection partners can also print and ship on-product authentication directly to the manufacturing or processing facility, ensuring the printing process is protected from eager hackers and cannot be tampered with.
So, with the volumes of items not adding up at the final destination, companies are better equipped to trace orders to the point of issue before they appear for sale online in questionable marketplaces by dubious merchants.
A Wider Casting Net for Phishing
As cyber threats are on the rise, consumers are increasingly expecting brands to uphold their sustainability and data protection promises. Of course, a certain level of awareness and education amongst consumers on how to protect themselves from scammers online is also needed to win the fraud fight. However, consumer trust can only be earned and restored if brands cast a wider net on online activities and selling sites and strengthen defenses against bad actors.
Forming strong partnerships with brand protection providers can help companies gain crucial visibility into the fast-changing threat landscape and block consumer access to suspicious sites, keeping customer data safe and loyalty high for years to come.
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[To share your insights with us, please write to sghosh@martechseries.com]
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