Cyber security: Preparing for battle

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cyber_small.jpgADOTAS – This is the second article in a four-part series dedicated to National Cyber Security Awareness Month. Read the first article here.

The Online Trust Alliance (OTA) is hosting the Online Trust and Brand Protection Summit on Oct. 29 in Philadelphia in collaboration with organizations like the Council of Better Business Bureau (BBB), the Anti-Phishing Working Group (APWG) and the Merchant Risk Council (MRC). The goal of the event is to educate online merchants, banks and brand marketers about the importance of data governance and consumer choice.

“Consumers’ choice and control of their personal data, and respect for their preferences are critical issues,” said Craig Spiezle, executive director of OTA. “Left unchecked we risk a consumer trust meltdown. The summit will elevate critical business practices that show promise toward protecting consumers and the long-term vitality of the Internet.”

The timing of the day-long summit is ideal.  It marks the final days of National Cyber Security Awareness Month (NCSAM) and it ushers in the holiday season, during which online shopping activity and revenue are expected to grow beyond last year’s figures.

It is more imperative than ever for online businesses to take action and protect consumers from online threats. As marketing leaders prepare to execute clever promotional strategies during the months ahead, the leaders in the fraud economy are preparing too. Practitioners of cyber crime have spent this summer recruiting and training, and their teams are prepared to probe, exploit and steal consumer data.

In a recent study conducted by Memolink.com, a loyalty program and online shopping resource, 41% of the 4,857 respondents said that it was difficult or very difficult to determine if a site or online business was legitimate.

Do you know if someone is typosquatting on your brand’s domain? What is the likelihood that your business will be targeted for a phishing scheme? Is your company prepared?

The summit’s programs will help organizations prepare by providing an insider’s view of consumer trust perceptions and real-world examples of how companies fight against the forces eroding the online ecosystem. Keynote addresses will be given by Maneesha Mithal, assistant director of the Federal Trade Commission Division of Identity Protection, and Peter Blackshaw, executive vice president of Nielsen Online and chairman of the Council of Better Business Bureaus.

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