The 3 Pillars of Digital Risk Management: Part 3 - The Top 5 Main Risks of Reputational Damage
In this 3-part blog series, we discuss how each of the 3 pillars, Cyber Threat, Data Leakage, and Reputational Damage, contributes to Digital Risk Management. In part 2, we discussed the 6 main areas that contribute to data leakage risks. In this next and final blog in the series, we discuss the main risks of reputational damage.
It is easy for organizations to be unaware of how their brands are being used online and what impact this can have on customers and employees. Here are the top 5 main risks of reputational damage.
Phishing campaigns are conducted against organizations. Using digital risk management to identify campaigns, raises security awareness and mitigates the campaign’s impact.
2. Domain Infringement
Typosquat domains are registered to spoof your websites to hijack your brand. By monitoring for typosquatted domains, organizations can protect their reputation and minimize the implications of domain infringements.
Figure 1: A view of typosquatting domains identified for a fictional organization
3. Spoofed Profiles
The social media accounts of key executives or brands can be spoofed. Unwary consumers might mistake these unsanctioned accounts as legitimate and get incorrect information or, worse, succumb to social engineering attacks.
4. Brand Defamation
Disgruntled former employees or dissatisfied customers can damage brands online. Swift detection of online brand defamation helps to keep customers happy and prevents damage occurring to the organization’s brand.
Figure 2: A defamatory blog set up by a former company employee
5. Mobile Application Issues
Spoofed or maliciously modified applications can leave customers and employees exposed. Organizations need to identify and remove these risky mobile applications to have confidence that their employees’ and customers’ information is protected.
A failure to detect and remediate these reputational damage risks to customers and employees can have significant business impacts. including loss of revenue, regulatory costs and loss of customers.
Thanks for reading along with this blog series on digital risk management. To learn more, check out our full report: Digital Risk Management: Identifying and Responding to Risks Beyond the Boundary.