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Brands are Failing with Their Responsibility to Protect Consumers as UK Fraud Cost Rises to £137 Billion

StrategyDriven Risk Management Article |Consumer Protection|Brands are Failing with Their Responsibility to Protect Consumers as UK Fraud Cost Rises to £137 BillionIt appears cybercriminals are having a feast scamming online, sparing no internet user, especially the vulnerable many who completely always trust every link sent to them in your brand name.

You can help, even though not entirely, but in some way, and this includes leveraging tools to fight against the ravaging internet crimes. These criminal activities only end up making e-commerce threatened.

Due to the growing insecurity and the rise of businesses and the need to educate customers more than ever, Skurio has investigated the current state of fraud on consumers to establish what companies could be losing, and you can click here to see their interactive slider that demonstrates the devastating daily cost of UK fraud.

UK Fraud Cost Surge Currently £137 Billion: What Items Are Experiencing the Effect
Cyber fraud is costing the UK economy approximately £137,000,000,000 annually and this means that consumers are missing out on being able to purchase various items that are used daily in society.

Here’s a breakdown of some of these consumer items that could have been purchased had it not been due to fraud daily:

Cups of Coffee:136,488,169.
Netflix Monthly Subscriptions: 62,661,513
Cinema Tickets: 55,606,291
Family Packs of 16 Toilet Rolls: 44,157,937.
Full Tanks of Petrol: 7,325,184
Smartwatches: 990 349
PlayStation 5: 834,112
Round the World Flight Tickets: 75,068

Cybercriminals Not Pitying Brands and Customers Amidst Post Pandemic Effect

Internet fraudsters are not retreating, and newer strategies are finding their place in the system to beat customers’ intelligence. Pharming, phishing, and many other defrauding techniques are also taking new forms, thereby becoming even more complicated for consumers to tell what from what.

For instance, website cloning and the use of your domain name is a big vulnerability. Even if a customer would manage to tell that the site is fake, the look and feel of the site confuses them and they end up trading with the account.

Typosquatting is a name for fake websites using domain names similar to that of your business. They will also add payment options, so that site users think they are dealing with the website. Sometimes, your customers end up on the website due to an error when trying to contact your site. Not only will a fake domain copy your site name, but they could also go on to promote the website, which means they will be gathering even more targets to victimise in your name.

Smishing is also a thing. In this case, a scammer sends out tons of messages containing malicious links to users. The links usually point to their fake website which is designed to store the information provided by the person falling victim.

How about finding your site credentials on the dark web? Well, these credentials could be used to jeopardise your integrity in the future, if not now.

Business-Oriented Response by Businesses to Curb Fraud

Unfortunately, you are responsible for safeguarding users that you think could be using your website. Your domain registrar cannot do so much, likewise the government. Therefore, you must take the fight against scammers if you must ensure to preserve your integrity.

The governments are contributing nonetheless. For instance, the US and Dutch law enforcement, under Operation Bayonet, had seized and disabled AlphaBay and Hansa, two prominent dark web marketplaces.

In your case, to respond swiftly to scammers’ attacks, consider the following:

  • Brand trademark. If you must justify and hasten takedowns, you want to trademark your company. Trademarking your company does not stop phishers, but it at least gives you the edge to take them down when you discover them.
  • Top-level domain registration. You can register as many top-level domains as you can that are similar to your brand. If you do not do it, scammers will.
  • Educate customers. Customer education can be vital in the fight against internet fraudsters. You simply have to develop clear and regular communications policies that inform your customers about the information your business can request from them.
  • Invest in the domain and dark monitoring solutions. You detect and eliminate phishing websites early before their presence leverages customer ignorance, which affects your brand reputation.

Final Thoughts

Dark web and domain monitoring tools are sophisticated ways to discourage fraudsters. Nonetheless, ensure to communicate your policies regularly with the customer. It should contain what personal information you collect, why and when, as well as the information you do not require or the only web pages they are supposed to enter their information on.

Improving Productivity in the IT Department

StrategyDriven Tactical Execution Article |Productivity in the IT Department|Improving Productivity in the IT DepartmentThese days, the IT department is often one of, if not the, most important parts of your business because it is a technology that keeps everything up and running effectively. So, it stands to reason that, if you can increase the efficiency of the IT department, you can improve productivity across your business as a whole.

Okay, but how exactly do you do that? Here are a few ideas:

Improve the infrastructure

Whether using faster processing products like this MicroATX motherboard or updating to the latest server technology, anything that you can do to improve your existing IT infrastructure will help your employees to carry out various processes more quickly, thus improving productivity. Investing in the best technology is rarely a waste of money because its return on investment, when productivity is taken into account, is almost always going to be pretty high.

Embrace automation

These days, a lot of business processes can be automated completely, from factory assembly lines to customer service responses. By taking advantage of automated apps and software, you can save time and money, and redeploy your IT staff to more important tasks that really di need an experienced human brain.

Cover the basics

Your IT team can hardly be as productive as they should be if they are forever dealing with viruses that have been downloaded by office staff or issues caused by hackers, so be sure that you implement a good level of cybersecurity measures, including software and staff training, so your IT team doesn’t need to waste their time firefighting when they could be innovating.

Set goals

It might not be high-tech, but there is no denying that setting goals in the IT department is a great way to improve productivity. When employees have a goal to shoot for and a clear path of how they are going to get there, they are more likely to do so quickly and efficiently than they would if they were just floating through life without much direction from management at all.

However, many managers all but ignore the IT department because they don’t understand the complexities of technology, so they think the IT team will just automatically know what to do. This is a bad approach and collaborating with them to make mutually beneficial, achievable goals is by far the best way to go.

Increase free time

This might not seem like a good way to improve productivity in the IT department, but it really is. You see, when IT professionals are given free time, their brains still work even as their body relaxes, and they are more likely to come up with novel solutions to all of the problems you may be experiencing.

If you’ve been neglecting your IT department, it’s time to change that because when your IT is running right, and your IT professionals are on fire, the rest of your business will naturally be more productive, creative and successful. It really is as simple as that, ns as you can see, improving productivity in the IT department is pretty simple!

5 Tips on How to Identify Phishing Emails

StrategyDriven Practices for Professionals Article |Phishing|5 Tips on How to Identify Phishing EmailsLet us begin with defining and understanding phishing; it is a cybercrime in which a target victim is contacted by email, phone call or text message. The contact is established by someone illegally posing as a genuine establishment or an organization to lure individuals into giving out and surrendering sensitive data such as personal information, banking and financial credentials. The goal of phishing is to trick the recipient into believing that the message is something they want or need officially, like a request from their bank or probably a note from someone in their company and click a link or download an attachment that usually contains malicious software. What separates phishing is the attacker’s pretense as a trusted body of some sort to gain the victim’s faith.

Phishing is one of the oldest forms of cyberattacks, but that does not mean it is harmless. It is still one of the most prevalent and malicious types of cyberattacks to exist. Phishing is one of the most common means of cybercrime and what is worrying is that despite how much we think we know about scam emails, there are still people who frequently fall victim to this cyber attack.

Let’s see how to identify Phishing emails, the subtle signs that should help you spot one and how to stay protected from them.

1. Check if the message is sent from a public email domain

There is no chance of a genuine organization sending you an email from an address that ends with a public domain such as @gmail.com or @yahoo.com. Authentic and genuine businesses would have their own email domain and company accounts. If the domain name matches the sender of the email, the message is in all totality legitimate.

Another way to check a business’s domain name is to do a quick google search making it easy to detect phishing.

Many of us don’t ever look at the email address that a message has come from, which also holds many clues that can help you spot a phishing email.

When cybercriminals create their fake email addresses to lure people into their schemes, they often have the option to select the display name, which does not have to relate to the email address at all. Therefore, they can use a phoney email address that will turn up in your inbox with the display name of a trusted brand or business.

2. Obvious grammar and spelling errors

If you get an email from a big business or organization, but it contains many basic spelling mistakes and grammatical errors, it is an obvious sign that it is a phishing email. Therefore, you should read the email carefully and check for these mistakes because they serve as clues that help you identify a phishing email.

3. Open attachments with utmost care

Email attachments are necessary and carry a lot of vital information, but they are the biggest threat to your device, and you could end up becoming a victim of phishing. This is the reason why it is essential to scan every attachment in your email.

Email attachments, particularly from unknown senders, can have viruses, malware and other malicious programs that could hamper the security of your system and make it easier for an attacker or cyber-criminal to gain access.

So, make sure to scan all attachments you receive from both known and unknown senders to stay protected.

4. Protect your email by using an SSL Certificate

We often wonder is this website safe? The threat of phishing is growing daily, with websites and emails at most risk of this menace. To make emails more secure and resilient to online attacks like MiTM attacks, you should get Cheap SSL Certificate. Secure Socket Layer gives a safe and secure transfer-layer interaction among two end-users, the sender of the email and the receiver.

Installing an SSL certificate warrants that every communication between the server and browser stays encrypted and secured from external threats. In addition, an SSL certificate encrypts communications on websites whenever it is technically feasible, making it harder for attackers to shoot phishing emails.

5. The message has a sense of urgency

If you receive an email giving a piece of essential news or update and asking you to reply and act immediately, it mostly is a phishing email. But a careful study of such email or message makes you realize that the organization doesn’t get in touch with you by that email address, and you learn that they did not send you a document at all. That is why so many scams and phishing schemes request that you act as soon as possible. It is also common for phishing emails to instill panic in the recipient as if you would incur some heavy loss if you do not act. The email may claim that your account may have been compromised, and the only way to confirm it is if you enter your login details, such as username and password. And with this act, you have just given away your details to the scammers. Then again, the email might state that your account will be locked if you do not act instantly.

So, ensure that you take the time to go through the processes mentioned above and check if it is a genuine email and act only if and when, you are sure. If you are unsure, however, contact the company directly through some other means.

3 Ways to Protect Your Business From External Threats

StrategyDriven Risk Management Article |Protect Your Business|3 Ways to Protect Your Business From External ThreatsRunning a business requires you to pour your heart and soul into making it a success. When you commit so much time and energy to your business, the last thing you want is for its success to be jeopardized by an external threat. External threats to companies come in many forms, so being aware of them and what you can do to protect your company is essential.

Knowing that you are protecting your business will bring you peace of mind and allow you to focus attention on running your business. Here is how to keep your business protected:

1. Increase Business Premises Security

A break-in or theft at your building can be a distressing situation. No one wants the hassle and upset of needing to report the crime and clear up the damage caused, especially when this is likely to cost you both time and money that could be better spent elsewhere.

Increasing your physical security measures at your business can act as a helpful deterrent and prevent crimes from being committed. Increasing your number of CCTV cameras on the premises, installing shutters, and investing in an alarm system will help reduce the likelihood of crimes being committed and save you the time and hassle that this causes.

2. Take Care of Cybersecurity

While the physical security of your buildings is vital, protecting your business from cybersecurity threats is also crucial. Cybercrimes are continuing to rise, with increased numbers of hacks and phishing scams taking place. If your business is a victim of a cybercrime, the cost can be high. Data breaches and other cybercrime can cause your business unplanned downtime, damage to your reputation, and money if you receive a fine.

As cybercriminals become increasingly sophisticated in their techniques, it becomes even more essential to work on protecting your business from cyber threats. Using Managed IT Services is an excellent way to do this as it enables you to benefit from professional assistance and the latest cybersecurity knowledge to protect your company. Knowing that you have expert help just a phone call away is a fantastic way to keep your business protected from this genuine threat.

3. Legal Protection

No matter how efficiently and diligently you run your business, you cannot control issues caused by other organizations. There are many issues your company can fall victim to in its business dealings, so ensuring you have legal protection against these is crucial.

Finding an experienced lawyer with lots of experience in drawing up contracts and copyright law is vital for your business. Getting contracts drawn up between your company and your suppliers could help safeguard your business against the cost of delays caused by supplies being delivered late or being substandard. It is also helpful to ensure you have applied for the appropriate copyright and patents for your designs and ideas so that you can take action if a competitor copies these.

While external threats cannot be eliminated, taking action to minimize their risk is the best way to keep your company protected.

Methods Of Keeping All Of Your Data Safe And Away From Danger

StrategyDriven Organizational Performance Measures Article |Keep Data Safe|Methods Of Keeping All Of Your Data Safe And Away From DangerIn the world of business, you literally never know when you might fall into danger. You always have to keep your wits about you because you don’t know what might be around the corner. You might have to deal with legal issues, bookkeeping problems, or natural disasters. So, it’s wise to always be prepared for any eventuality.

In 2021, a lot of the work you’ll be doing will be online and via digital platforms. On these platforms and systems, a lot of important information will be around. You’ll also be operating a lot on them, so they’ll need to be functioning properly and will need to be well-guarded. If you leave yourself open in this regard, then you could be in danger of all kinds of negative instances. The good thing is that protecting your systems and data isn’t too difficult. Here are a few ways to do it:

Teach Your Staff What They Need To Know

If you have employees that know what they have to do and how to behave, then it’s going to make the working day a lot less stressful. Training employees in IT skills doesn’t have to be difficult when it comes to the basics, but the more technical aspects may need a little more work. You can bring in training services every now and again, or you can send them to school for a couple of months so that they can fully gain the knowledge, skills, and qualifications. Ensuring that they’re trained would mean that fewer silly errors are made.

Possess A Solid Cloud Server

If your company has a great remote server that can be accessed by everyone on the team, it makes work a lot easier. Sending and receiving items comfortable helps everything move smoothly. One problem in recent years is that they have been hacked into by criminals, so it’s your job to ensure you find a solid, protected server. Secure file sharing is vital if you want to maintain productivity, order, and a good reputation.

Ensure You Have Ample IT Support

There are lots and lots of IT companies around that will help you with things as you get through your day-to-day jobs. The likes of managed IT services will be on hand to watch over you and protect you from attacks. They’ll also be able to advise you regarding the next best possible moves that will benefit the company.

Ensure Harsh Punishments For Violating IT Conduct

A lot of the time, computer systems are compromised due to an issue from someone within the camp. Perhaps they’ve made an error or they’ve tried something underhanded. In order to stop this kind of thing from happening, it’s good to put rules in place. If they know what will happen to them, then it will deter them from trying anything untoward.

Buy The Right Cybersecurity Software

Possessing the right software makes sense for everyone involved. You’ll have to ensure that you have the best programs to protect your data and systems as substandard cybersecurity software will let hackers walk right in.