How Telecommunication Company Overcame Callback Phishing Threats with Keepnet Labs

Introduction

A telecommunication provider caters to diverse customers, including offices, retail locations, and other commercial settings.

One significant threat that emerged for this business was the risk of ongoing callback phishing. This sophisticated cyber threat involved attackers tricking employees into calling back on a number provided in a voicemail, email, or text message, which can lead to data breaches or financial losses.

Recognizing the need to fortify its defenses against this threat, the telecommunication company partnered with Keepnet Labs to implement a comprehensive Callback Phishing Simulator program. This security awareness program aimed to enhance employee awareness and readiness against callback phishing attacks, safeguard customer data, and maintain the company's reputation for reliability and security.

Successful Outcomes

An impressive annual Return on Investment (ROI) of $17.900 was achieved.
Within a year, employees improved their ability to recognize callback phishing by 93%.
In just 12 months, Tiryaki's employees improved their ability to identify phishing attempts by 89%.

Impact of Callback Phishing Attacks

Legal and Compliance Risks: Failure to adequately train employees could lead to legal repercussions and penalties for non-compliance.
Financial impact: Callback phishing can result in significant financial losses of up to $4 million due to data breaches and fraud.
Reputation Damage: Any data breach could harm the company’s reputation as a trusted internet service provider.
Operational Disruption: Dealing with the aftermath of phishing attacks can consume valuable resources and disrupt normal operations.

“Our collaboration with Keepnet Labs in minimizing the threat of callback phishing is more than a strategy; it's a bold statement of our unwavering commitment to digital security and trust. By arming our team with the advanced skills needed to outsmart these threats, we're enhancing our defenses and redefining internet safety standards for our customers. By empowering our team with Keepnet Labs' cutting-edge Callback Phishing Simulator, we're not only bolstering our defenses, we're setting a new gold standard in internet safety within our company.”

Micheal Smith, Co-Founder of Telecommunication Company

Return on Investment (ROI)

Average Cost of Phishing Incident Response

Avg. time to respond to a QR code Phishing incident

from 6 hours to 2 minutes

The average cost of one staff

$60 per hour

The cost of a single Phishing incident is reduced

from $360 to $2

The average number of Phishing incidents reported per year

The total estimated cost savings are $17,900 annually (reducing the cost from $18,000 to $100).

How Keepnet Labs Stepped In:

With Keepnet Labs, Tiryaki enhanced security culture and human risk management as follows:

Callback Phishing Simulation: Keepnet Labs introduced a Callback Phishing Simulator to assess and improve employees' readiness against callback phishing attacks. This enabled employees to recognize better and respond to callback phishing attempts.
Focused Security Awareness Training: A targeted and behavior-based security awareness training program was implemented, specifically designed to address incorrect behavior.
Expert Consultation: Keepnet Labs provided the telecommunication company with ongoing consultation, offering insights into the fight against callback phishing threats and assisting in creating targeted strategies.
Strengthened Reporting Culture: Employees were trained in proper reporting mechanisms for callback phishing attempts, and a reporter add-in was provided to report suspicious emails promptly.
Ensuring Regulatory Compliance: The regular simulated callback phishing tests and security awareness training sessions conducted by Keepnet Labs ensured that this telecommunication company remained compliant with relevant cybersecurity regulations.
Behavior-Based Automated Security Training: Keepnet Labs closely monitored employees' handling of potential callback phishing scenarios. If an employee responded incorrectly to a simulated phishing attempt, the system automatically delivered specific training focused on their mistakes.

Operational Results

The business successfully trained its employees and significantly increased security awareness against callback phishing attacks.
The employees achieved a remarkable 93% success rate in identifying phishing emails.
Employees reporting phishing incidents led to quick and effective responses that minimized risks and strengthened the company's cybersecurity.
The training notably reduced the employee and management team’s stress and anxiety related to phishing threats.

Strategic Results

Implementing Keepnet Labs' solutions led to an annual cost savings of $17,900.
The program ensured the company met necessary cybersecurity regulations, providing reassurance.
The company significantly improved its cybersecurity defenses with a thorough training program and an effective incident response plan.
Productivity improved as automated training sessions streamlined the learning process, replacing the need for manual training.
This training program created a stronger security culture within the company, empowering employees to fight phishing attacks effectively.