Facing a need to change with the increase of new cyber threats, financial services institutions are implementing strong cyber security solutions, programs and training. As this is a crucial step to undertake and maintain a trusted environment, it is also important to share their best practices, this is what many financial service leaders will be doing at the FS-ISAC Fall Summit in Baltimore.
I’m just back from a fantastic International Trademark Association (INTA) conference. It is exciting to spend a few days with the foremost practioners in trademark and IP world. One of the most visible organization there was a registrar, Vox Populi Registrar, Inc., who owns the .SUCKS gTLD. Their representatives, clad in bright blue and white, were merrily touring the floor, speaking with vendors and attendees, about how much business sense it made to a brand to purchase the .SUCKS domain. There booth featured a continuous slide show of F500 brands,"using" the .SUCKs domain. ibm.sucks; ford.sucks; starbucks.sucks. yourcompanyhere.sucks. Outside the conference hall, there were more blue-clad representatives, passing out .SUCKs items that were prohibited in the hall. The Vox Populi message was communicated clearly -- It only costs $2500/year to reserve this gTLD.
"Isn't that a small amount to pay to know that no one else uses it with your brand?..."
Topics: risk management, brand abuse, online brand protection, Reputation Management, INTA, trademark, intellectual property, Risk, gTLDs, cyber threats, Chief Security Officer, online risk, unauthorized associations
It is no surprise that 84% of businesses have now adopted social media to implement an online presence to communicate with customers and overall, increase their brand reach . Whether a small independent business or a large B2B company, it is more evident than ever that businesses who do not build and maintain an online social media presence will get left behind, and evidently lack competitiveness. Having a social media presence offers clear advantages for marketing and sales departments, however, with this comes the disadvantage of having increased social media risks that could potentially harm the company’s brand. Therefore, it is extremely important that businesses adopt a Social Media Risk Plan to manage their reputation online and know how to mitigate potential threats.
Topics: Brand Protection, risk management, defamatory, brand abuse, online brand protection, Reputation Management, Social Media Monitoring, employees social media, online identity, social media, Internet Threats, Risk, internet security, cyber threats
A few years ago I was in need of a licenced plumber to come and fix some piping issues I was having in my kitchen. After doing some research online I came across a company’s website that looked professional and organized with reasonable prices. Before making a decision I went to check out their reference section where I saw a referral written by one of my client’s contacts accompanied by that client’s brand logo. At first I thought this was a great opportunity to get someone's personal experience with this company. Although when I got a hold of my contact they informed me that neither they nor their organization have ever hired, worked with or been associated in any way with that company. My client, while concerned, was not sure what risks this issue presented and requested a breakdown of the dangers related to an “Unauthorized Association”.
As the social media ecosystem continues to evolve on a daily basis, so do the risks to your brand and reputation. Monitoring social media for risk is a no-brainer these days, but there are other channels you need to be looking at to ensure you are covering all your bases.
I just did a mental poll and yes, spam is still one of the most annoying things to receive in your email. These messages may include unsolicited offers for cheap Viagra or requests from a Nigerian Prince requesting your bank account information because he needs help to move a large sum of money and in turn, will repay you with a generous sum of money for your time and effort. There are also phishing attacks emails that try to trick the user by providing them with a link to a spoofed website that looks identical to a financial institution’s website. If you have an email account, chances are good that you have encountered these or similar scenarios. People are becoming more aware of the dangers of engaging with unsolicited emails and stay away, but would you consider a legitimate email from a company as spam?
Earlier last week Jody Westby wrote a very insightful article for Forbes highlighting the lack of experience and expertise from most board members and CEOs when dealing with serious cyber risks. A great point is made when she remarks that “they [CEOs and board members] are beginning to realize that there are best practices for cyber governance, and this involves more than asking interesting questions now and then or accommodating an annual ten-minute IT report on the board agenda”.
This week, the Federal Financial Institutions Examination Council (FFIEC) released important guidance on social Internet risk that affects nearly every institution in the United States that offers credit. The guidance, in essence says the following: significant risk to these institutions can arise from a wide range of online activities and events initiated by third parties. These activities include “comments made by social media users, spoofs of institution communications, and activities in which fraudsters masquerade as the institution…”