Koton’s Winning Strategy Against Phishing
Discover how Koton, a global fashion retailer, strengthened its defenses against phishing, achieving a 99% improvement in phishing recognition.
Introduction
Koton, a global fashion retailer with over 500 stores in 40 countries, faced significant cybersecurity challenges due to phishing attacks. Despite strong security measures, the international reach of its operations made training and responding to these threats difficult.
Koton chose Keepnet Labs for their complete, automated, and scalable phishing protection and training solution. This solution aimed to strengthen Koton's digital security, protect its brand, and secure the trust of customers, employees, and stakeholders worldwide.
Successful Outcomes
Saved $10,792 annually in incident response time.
Prevented potential financial loss by $177,708 per year.
Improved employees' phishing recognition by 99% within a year.
Emphasizing the Implications of Phishing Attacks
Koton faced significant threats due to its extensive international operations. Managing human risk, which accounts for 95% of cybersecurity incidents, was a major challenge.
Legal compliance: Non-compliance with regulations could have resulted in penalties and legal action due to insufficient phishing training.
Supply Chain Vulnerability: Phishing attacks targeting supply chain partners can disrupt inventory management and delivery schedules, affecting overall business efficiency.
Business Continuity: Persistent phishing attacks can undermine business continuity plans, affecting long-term growth and operational stability.
Financial impact: Phishing attacks could have led to data breaches and ransom demands, causing significant financial losses.
Reputation at stake: Compromised data could have damaged trust among customers, employees, and partners, harming Koton's reputation.
Operational disruptions: Investigating and responding to phishing attacks could have disrupted business functions, requiring extensive resources.
Identity theft and fraud risk: Phishing attacks could have exposed confidential information, increasing the risk of identity theft and fraud.
Potential Loss Prevented
The average loss per individual | $502 |
Employees recognize and report Phishing | from 80% to 99% in 1 year |
The total potential loss prevented: $177,708 annually | |
Cost Saved From Incident Response
Avg. time to respond to a 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 | 30 |
The total estimated cost savings are $10,740 annually (reducing the cost from $10,800 to $60). | |
How Koton Strengthened Their Phishing Defenses:
Customized Security Materials: Tailored posters, infographics, and materials were distributed to employees, reinforcing security awareness and best practices.
Expert Consultation: Ongoing consultation provided insights on emerging threats, helping create targeted phishing campaigns based on real-world scenarios.
Enhanced Threat Recognition: Simulated phishing scenarios improved employees' ability to recognize and respond to actual threats.
Strengthened Reporting Culture: Security awareness courses trained employees on proper reporting mechanisms, enabling prompt reporting of suspicious activity.
Mitigation of Human Error: Phishing simulators and awareness courses familiarized users with common phishing tactics, reducing the risk of human error.
Cultivated Security Culture: Continuous training initiatives fostered a proactive security culture, encouraging employees to actively participate in cybersecurity efforts.
Ensured Regulatory Compliance: Regular phishing simulations and awareness training ensured compliance with cybersecurity regulations, minimizing legal risks.
Automated and Ongoing Training: Continuous analysis of risky behaviors and automated training modules increased awareness and instilled good reporting habits.
Operational Results
Educated 1,800 employees, ensuring strong security awareness.
Achieved a 99% success rate in identifying phishing attempts.
Streamlined incident reporting for swift threat responses.
Reduced employee stress about phishing threats.
Built a strong security culture.
Strategic Results
Prevented a potential $177,708 loss annually with Keepnet's solutions.
Saved $10,792 annually from incident handling processes.
Ensured compliance and provided reassurance.
Strengthened cybersecurity with stringent measures and an effective response plan.
Boosted productivity with automated training.
“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."