Koton’s Winning Strategy Against Phishing
Discover how Koton fortified its phishing defense by 99%, slashing costs related to phishing scams by over 85%.
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.
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 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
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."