How Can Businesses Equip their Customers in the Fight Against Cybercrime?

Karen Romagnoli, SVP North America Customer Engagement at Affinion Group

Over the past five years, sensational headlines exposing the theft of personal data have become increasingly common, bringing awareness of cybercrime to an all-time high. As companies get smarter about privacy and fraud protection, fraudsters have become more creative in their criminal efforts.

Consumers are often viewed as the weakest link in the security chain, largely because they're not properly educated about phishing campaigns, mistakenly give credentials to unauthorised users, download malicious software, or use the same password for all of their online accounts. In an age where consumers are increasingly the gatekeepers for cyber security, businesses should take on the responsibility of educating and helping their customers protect themselves.

The Cost of Cybercrime

An individual's online presence is now closely linked to their reputation, which makes the repercussions of identity theft far reaching and have lasting consequences. With people storing more and more information on digital devices, there is a higher chance to be hacked, and the financial cost of cybercrime can be significant for both the victims and companies. The toll then can be highly emotional as well, since irreplaceable memories and personal information are also under threat. Additionally, cybercrime can affect one's professional reputation if important contacts are stolen, used to spread malware, or even worse, for criminal purposes.

Keeping Families Safe in a Digital World

Protecting their family is a top priority for parents. Young people are increasingly accessing online content and immersing themselves in all things tech. This creates a myriad of worries for parents, who are often ill equipped to understand how to protect themselves and their children in a fast-evolving digital world. Protecting one’s family from negative cyber exposure is a highly emotional issue for busy parents who are stressed and anxious as a result. Many feel overwhelmed with the responsibility and potential ramifications. As a result, they are looking for guidance on how to be cyber-savvy from sources they trust.

The multiplication of connected devices, which can be used as entry points by cyber criminals, complicates matters even more for families who want to protect themselves while continuing to enjoy the benefits of a highly connected environment.

How to Build Customer Loyalty Among the Threat of Cybercrime

Companies have a great opportunity to connect with customers over cyber security and those who do, are bound to reap the benefits. The average consumer is aware and concerned about cybercrime and tend to look to sources they trust for education and guidance on the issue. It has become commonplace for businesses to offer protection solutions for customers and as a result those customers tend to be more engaged and loyal. By placing their organization at the center of more areas of a person’s life, businesses can foster deeper, longer lasting relationships with their customers.

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