Scams are unfortunately only getting more sophisticated. And following a survey recently conducted by Forrester on behalf of Callsign, Bhavesh Vaghela says that we need to be very concerned.
Scams are commonplace, a part of everyday life. It’s an unpleasant fact to have to accept, and one that’s exacerbated by a second fact: those scams are getting more sophisticated with every passing day.
That’s a big problem and one that has an impact far beyond the immediate financial aspects that go hand in hand with scams. Looking at the results from the report that Callsign commissioned from Forrester, the aspect that stood out for me is the damage that these scams can cause to brands and reputations. Equally clear is the fact that businesses need to act decisively, and quickly.
The types of scams
The survey covered management level and above from 157 different organisations in the banking and financial sector, with the purpose of understanding the impacts of various scams, and the approaches they’re taking in tackling them.
As the research found, there’s no single definition of what constitutes a scam. Scammers constantly change their tactics to exploit new prospects, just as quickly as they abandon attack vectors that have become too tricky to pursue.
Certainly, phishing/vishing/smishing are starting points for many scams (and these factors topped the list for 95% of respondents). But scams are often layered in complexity and incorporate multiple…
