Transforming Cyber Defense: Koton’s Winning Strategy Against Phishing
Discover how Koton fortified its phishing defense by 99%, slashing costs related to scams by over 85%.
Introduction
Koton, a multinational retail juggernaut, is known globally for its trend-setting and quality apparel. The company operates over 500 retail stores in 40 countries, making it a significant player in the international fashion industry.
Yet, with this global reach, Koton faced a complex cybersecurity challenge - phishing attacks. While Koton had invested in robust security measures, the global spread of its operations presented unique challenges. Implementing consistent training to arm their multinational workforce against cyber threats was a complex and demanding task. Furthermore, managing and responding to email-based phishing attacks, originating from and targeting different geographical regions, was a daunting endeavor.
After evaluation of various providers, Koton selected Keepnet Labs for their comprehensive solution. What appealed to Koton about Keepnet Labs was their ability to deliver a complete, automated, and scalable solution to phishing threats, coupled with an extensive security awareness training program that catered to Koton's global employees. The ultimate aim was to strengthen Koton's digital environment, securing the trust of its customers, employees, and stakeholders, and protecting the brand's integrity across the globe.
Successful Outcomes
- An impressive annual Return on Investment (ROI) of $10,740 was achieved.
- The annual potential financial loss was curtailed by $177,708
- Within a year, employees improved their ability to recognize phishing by a 99%.
Emphasizing the Implications of Phishing Attacks
Koton could risk exposure to an array of substantial threats. Due to its extensive international operations, managing human risk - responsible for 95% of all cybersecurity incidents - presented an acute and unique challenge:
- Legal compliance: Failure to comply with industry regulations can result in penalties and legal action due to inadequate employee training against phishing attacks.
- Financial impact: Successful phishing attacks may lead to data breaches and ransom demands, causing significant financial losses from incident response and mitigation.
- Reputation at stake: Compromised data integrity can damage trust among customers, employees, and business partners, negatively impacting Koton's reputation.
- Operational disruptions: Investigating and responding to phishing attacks can disrupt regular business functions, requiring extensive resources and attention.
- Identity theft and fraud risk: Phishing attacks expose confidential information, increasing the potential for identity theft and subsequent fraudulent activities.
“We've successfully trained 1,800 employees across our global stores, resulting in a 99% success rate in identifying phishing attempts within a year. This program not only fortified our defenses but also cultivated a robust security culture within Koton. From a financial perspective, we've realized an annual ROI of $10,740 and prevented potential losses of $177,708.”
Suat UĞURLU, Associate Director, Technology Solutions and IT Security at KotonReturn on Investment (ROI)
Average Cost of Phishing Incident Response
How Keepnet Labs Stepped In:
- Customized Security Materials: Keepnet Labs created tailored posters, infographics, and additional materials that Koton could distribute to their employees, reinforcing security awareness and best practices with nudges.
- Expert Consultation: The Keepnet team provided ongoing consultation to Koton, sharing the latest insights on emerging threats and helping them create targeted phishing campaigns based on real-world scenarios and trends.
- Enhanced Threat Recognition: Keepnet's simulated phishing scenarios improved employees' ability to recognize and respond to actual threats, building their confidence in identifying phishing attempts.
- Strengthened Reporting Culture: Security awareness courses offered by Keepnet trained employees on proper reporting mechanisms, empowering them to promptly report any suspicious activity for swift incident response and resolution.
- Mitigation of Human Error: Through phishing simulators and comprehensive awareness courses, Keepnet reduced the risk of human error by familiarizing users with common phishing tactics, enabling them to make informed decisions and avoid falling victim to attacks.
- Cultivated Security Culture: Keepnet's continuous training initiatives fostered a proactive security culture within Koton, encouraging employees to actively participate in the organization's cybersecurity efforts and making security a shared responsibility.
- Ensured Regulatory Compliance: Regular phishing simulations and awareness training provided by Keepnet ensured that Koton remained compliant with cybersecurity regulations, minimizing the risk of penalties and legal consequences.
- Automated and Ongoing Training: Keepnet's platform allowed for continuous analysis of risky behaviors, increasing employees' awareness of potential threats and instilling good reporting habits through automated training modules and reminders.
Operational Results
- Koton educated 1800 employees globally, ensuring strong security awareness worldwide.
- Employees achieved a 99% success rate in identifying phishing attempts.
- Streamlined incident reporting enabled swift and effective responses to threats.
- Training reduced employee stress and anxiety about phishing threats.
- The initiative cultivated a security culture, empowering employees against phishing attacks.
Strategic Results
- Keepnet's solutions resulted in significant annual cost savings of $177,708 for Koton.
- The initiative ensured compliance and provided reassurance.
- Koton fortified its cybersecurity defenses with stringent measures and an effective incident response plan.
- Automated training boosted productivity by eliminating manual sessions.
