Impact of Vishing Attacks
Without a systematic approach to preventing phone scams, Teknosa would indeed be exposed to a range of risks. These could include:
- Penalties and legal actions: Legal obligations mandate employee training against all cybersecurity risks, including vishing attacks. Non-compliance can result in financial penalties and legal actions.
- Financial Losses: Successful vishing attacks can result in customer data leaks and potential ransom demands. There are also costs associated with incident response and mitigation.
- Reputation Damage: Loss of trust among customers and employees could have devastating short-term and long-term consequences.
- Business disruption: Suspicious activities or real attacks can divert significant attention, disrupting business operations.
- Identity theft and fraud: Personal information gathered through voice phishing can lead to identity theft and associated fraudulent activities.
Keepnet’s Vishing Simulator helped us craft scenarios tailored to our culture and goals, enabling our employees to identify, report, and counter cyber-attacks coming from phone. Keepnet contributed to a 30% increase in business efficiency, and our ability to identify and stop risks increased 12-times more.
Potential Loss Prevented
The average loss per individual | $502 |
Employees recognizing and reporting Vishing | from 45% to 80% in 90 days |
The total potential loss prevented: $439,250 annually | |
Cost Saved from Vishing Incident Response
Avg. time to respond to a Vishing incident | from 16 hours to 6 hours |
The average cost of one staff | $60 per hour |
The cost of a single Vishing incident reduced | from $960 to $360 |
The average number of Vishing incidents reported per year | 50 |
The total estimated cost savings are $30,000 annually | |
How Teknosa Mitigated Vishing Risks:
- Automated vishing simulations were implemented, enabling detailed analysis of employees' risky behaviors, raising awareness, and promoting good reporting habits.
- Existing incident response strategies for phone-based attacks were evaluated, gaps identified, and protocols revised.
- Comprehensive training modules incorporating behavioral science elements like nudges were introduced to enhance secure behavior.
- Employee adherence to security policies was assessed and reinforced through targeted security awareness training.
- The Threat Sharing policy was recreated to proactively share critical information with authorities and other e-commerce platforms.
Operational Results
- Trained 2,500 employees across 211 stores in 68 locations automatically and continuously.
- Improved voice scam identification by 80% within 90 days.
- Enhanced incident reporting and follow-up mechanisms with new policies.
- Reduced employee stress and anxiety levels significantly.
Strategic Results
- Saved $30,000 annually from improved incident response processes.
- Prevented a potential loss of $439,250 annually.
- Reduced regulatory risks, boosting confidence in long-term compliance.
- Implemented robust vishing security procedures and a clear incident response playbook.
