CYBER ATTACKS AND FIRM REPUTATION : WHAT WE LEARNED FROM WPP

In recent months, Britain's WPP, one of the world's largest advertising companies, has suffered a very serious cyber attack, exposed to a ransomware virus called “Petya.” After the attack, WPP's global site was not accessed for a certain period of time and the firm went completely offline. The Petya virus used in the attack affects computers and programs, encrypting and disabling user files. This encryption completely blocks access to user files. Hackers, on the other hand, demand ransoms from institutions and individuals under attack in the form of Bitcoin payments in order to open encrypted files. It is said that if the payment is not made on the specified day and the desired amount, the ransom amount will increase, the data will be destroyed, or the seized information will be sold/distributed.

Many companies around the world have experienced operational disruptions due to cyber attacks.  WPP, French rail transport company SNCF, Dutch cargo company TNT, Danish transport company Moller-Maersk, Spanish food company Monelez, US pharmaceutical company Merck and law firm DLA Piper are among the major companies exposed to the global attack. Although the number of computers exposed to the “Petya” virus on earth is not exactly known, the figure is estimated to be around 1,000,000. Even this number alone shows the heavy balance sheet of the attack, the damage it does to the brand value of firms and business continuity.

In environments that can have risky and severe consequences, businesses must determine their appetite for cyber risk and make decisions about how to respond to cyber threats. At the same time, cyber threats must be added to risk metrics and risk matrices. A thorough examination of human, process and technology components is essential to understand how technically prepared cyber attacks are.

One of the leading methods of protecting against cyber attacks is individual and corporate awareness.  Institutions and individuals should effectively manage their bank accounts and social media accounts, check them periodically. At the same time, wireless network encryption mixed password combinations for the use of the control panel and administrator passwords to be changed periodically on the website and notice obvious security measures getting support from companies such as cyber attacks cyber security by helping to prevent the attack of early wall strength.

In addition to those specified, the powers of review and authority for their own businesses cyber maturity assessments, user working with the lowest principle, avoided by the use of each system, create a specific account is a joint account, give training to employees to create awareness against cyber attacks in the network at regular intervals to test security weaknesses infiltration (penetration) tests to make backups on a regular basis (back-up) make anti-virus software to keep you constantly up to date, put a strict password policy within the institution, it is essential that they act on a risk-based basis by using filters for data access and taking similar information security measures.

In addition, it would be wise to use domestic software as well as foreign software to protect against cyber attacks. In short, it is critical that organizations are prepared to prevent, detect and control threats to information assets. In fact, businesses should be aware of turning information risks into advantages. Let's not forget that at the moment, battles are not won by the barrel of a gun, but by the tip of a pen and the weakness of the opponent's risk.

Finally, in relation to cyber attacks, protecting brand reputation has become critical, especially within the scope of Marketing Science.. For example, after cyber attacks, many top managers of businesses resign, which leads to an erosion of intellectual capital in firms. This negative landscape, coupled with declining stock prices, also leads to firm Reputation bottoming out. Because the confidence and respect of business stakeholders in the company is decreasing, and doubts about the fact that personal data is really protected are increasing. Customer complaints, coupled with media reports, now face the inevitable end. Therefore, businesses should focus on audit activities, establish expert teams, react quickly and not repeat the same mistakes... it should be noted that direct and clear communication is the most reliable bridge to maintaining firm Reputation.

http://www.marketingturkiye.com.tr/haberler/siber-saldirilar-ve-firma-repurasyonu-wwpden-ogrendiklerimiz/