The brand is a company’s biggest and most valuable asset. Brand is also most susceptible to attacks by threat actors. Threat actors:
· Impersonate brands on the Internet and defraud customers, partners and prospects through phishing, malware, and counterfeit products.
· Exploit executives and employees into releasing sensitive information or downloading harmful malware that can exfiltrate data .
· Infringement erodes revenue and consumer trust.
With the evolution of the Internet, the threats have also increased. The statistics are representative of these threats
· 93% of top brands experience online frauds
· 14% of branded search is hijacked
· 5 to 7% of revenue is lost to counterfeiters
· $100B lost to piracy annually
These statistics prove that companies should wake up to the importance of brand protection strategies and prepare a master plan to combat these threats. Phishing, counterfeiting and fraud hamper a brand’s image and integrity severely, Customers lose their trust and switch to different brands, decreasing the revenue by thousands and millions of dollars sometimes.