In freight brokerage, data is the new currency. Brokers are responsible for managing a constant flow of sensitive data between shippers and carriers. This isn’t just about numbers and figures, but the lifeblood of a brokerage’s operations, the trust of their clients, and the reputation of that business.
However, with the rise of cyber threats, this data is under constant attack. Cybercriminals are aware of the value that lies in a brokerage’s databases, and they will stop at nothing to exploit it. The risk is real, and the potential damage can be catastrophic.
But here’s the good news: you’re not alone in this fight. With the right tools and training, a brokerage can fortify its defenses, protect its data from bad actors, and continue to operate with confidence.
So, let’s delve deeper into the world of cybersecurity in freight brokerage, explore the potential challenges, and understand how a microlearning training platform like Learn to Win can help turn these challenges into opportunities for growth and resilience.
The Growing Reality of Cyber Threats
Freight brokerages are no strangers to cyber threats. In fact, IBM X-Force ranked transportation as the ninth most-attacked sector in 2022. These threats aren’t just random acts of mischief; they’re calculated, sophisticated attacks designed to exploit vulnerabilities and steal valuable data.
In most cases, cyber threats can be broken down into the following four major categories:
- Phishing Scams: Cybercriminals often pose as trusted entities to trick brokers into revealing sensitive information or downloading malicious software. According to IBM’s X-Force Threat Intelligence Index 2023, the primary way cybercriminals accessed data in the industry was through phishing schemes, which made up 51% of the cases studied.
- Ransomware Attacks: This type of malware locks you out of your systems until a ransom is paid. And the cost can be astronomical. In 2021, Colonial Pipeline authorized a $4.4 million ransom payment to hackers. The ransomware attack spurred the company to shut down pipeline operations, causing massive gasoline disruptions in the southeast US.
- Insider Threats: Disgruntled employees or those with access to confidential information can pose a significant threat to your brokerage. These individuals can intentionally or unintentionally (due to negligence and carelessness) disclose sensitive data by doing something as simple as leaving a computer unlocked and unattended.
- Double-Brokerage: brokering, the act of a fraudster posing as a legitimate carrier or intermediary, has cost the industry over $100 million annually.
As more aspects of freight become digitized, freight brokers, in particular, must give adequate attention to cybersecurity practices.
The Importance of Proactive Cybersecurity
The 2023 Travelers Risk Index found that 55% of transportation leaders identified cyber risks as a top concern for their business. Hackers are constantly evolving their tactics, making it crucial for businesses to stay ahead of these potential threats.
Investing in proactive and continuous cybersecurity training is no longer a luxury but a necessity for any business, especially a freight brokerage operating primarily online.
Why Proactive and Continuous Training is Essential
Cybersecurity isn’t a stationary field. Threats evolve, new vulnerabilities are discovered and exploited, and bad actors continuously innovate in their methods of attack.
And yet, it's common for freight brokerages to view cybersecurity training as an annual event meant to check a compliance box. But hackers don’t wait for you to complete your annual training before striking. And you shouldn’t wait to dispense training until the worst has already happened.
Frequent, continuous training helps employees stay up-to-date on the latest threats and best practices to prevent them. From recognizing phishing attempts that could compromise sensitive shipment information to understanding the risks of unsecured networks when accessing client data on the road, every team member becomes a critical line of defense.
To protect your business from cyber risks, it's worth investing in a continuous training platform like Learn to Win that makes training easy and accessible to your brokers wherever and whenever they need it.
The Risks of Reactive Cybersecurity Measures
A reactive approach to cybersecurity, where actions are taken only after a breach has occurred, is already too little, too late. Unfortunately, most organizations usually focus on reactive cybersecurity rather than proactive. But reacting to a cyberattack doesn’t stop the damage from happening; it’s simply a measure to stop the bleeding.
One of the significant risks tied to a reactive cybersecurity protocol is unpreparedness for when a cyber incident does occur. Without regular and up-to-date training, employees at your brokerage might be in the dark about how to respond to or even recognize potential threats.
For example, a broker might unwittingly click on a phishing link in an email, thinking it’s a routine message from a carrier or client, exposing sensitive shipment data in the process. This could result in costly lawsuits and loss of trust from clients, damaging your brokerage’s reputation.
By prioritizing proactive cybersecurity measures through frequent training, you can mitigate the risk of such incidents and protect your business’ valuable data and client relationships.
Learn to Win: Your Ally in Cyber Resilience
As with any challenge, the first step towards cyber resilience is acknowledging that there are risks and vulnerabilities in your cybersecurity training. But where do you start? How can you ensure your team receives the most effective cybersecurity training to protect your brokerage?
The next step, and possibly the most important one, is choosing a training platform designed for your brokerage's specific needs and challenges. One such platform that fits this criteria – Learn to Win.
A Microlearning Platform for Macro Cybersecurity Defense
Learn to Win offers a modern, approachable solution for training your brokers on cybersecurity. With our platform, you don’t have to wait once a year to dispense a mountain of cybersecurity training to your brokers.
Instead, Learn to Win allows you to break that mountain down into manageable, engaging microlearning modules that can be assigned throughout the year without inconveniencing your team. It isn’t just about making training easier- it’s about making it more effective.
And here’s how we do that:
- Microlearning for Maximum Impact: Traditional, lengthy training sessions can be overwhelming and hard to retain. Our microlearning approach boosts learner comprehension and retention by allowing you to break down complex cybersecurity concepts into manageable, engaging modules that can be completed by employees in as little as 3-5 minutes. As a result, your team is better equipped to apply their knowledge in real scenarios- be it identifying a phishing email or tackling an insider threat.
- On-the-Go Learning with Mobile-first Design: Our mobile-friendly platform ensures your team can access cybersecurity training whenever and wherever they need it. This flexibility means your team can stay updated with the latest threats and defenses despite their busy schedules.
- Rapid Content Creation for Timely Responses: Learn to Win allows you to respond to any cybersecurity threat swiftly, enabling you to create and dispense relevant content to your team in a matter of minutes.
- Data-driven Learning with Real-time Analytics: Our platform doesn’t just deliver training- it optimizes it. Every lesson and assessment you assign generates data that provides insights into your team’s strengths and weaknesses. You’ll never feel blind to your team’s progress, as our real-time analytics allow you to track their growth and address knowledge gaps before they become security risks.
Tackling Cyber Threats Head-on
Our comprehensive training platform will equip your team with the knowledge and skills to confidently identify and handle potential cyber-attacks. But let's revisit those looming cybersecurity threats that keep you up at night and see how Learn to Win can help defend against them:
- Phishing scams: Quickly spin up lessons and teach your team key phishing defense concepts like email security and social engineering. They’ll learn how to identify suspicious emails, avoid clicking on malicious links, and report any potential threats.
- Ransomware attacks: A bad actor doesn’t want their threats to be convenient. They don’t wait for your team to all be in one location launching an attack. And your training shouldn’t rely on that either. With our platform, your team can access training anytime, anywhere, preparing them to handle any cybersecurity threat from any location.
- Insider threats: A minor error is all a bad actor needs to exploit an insider and gain access to sensitive information. With our real-time analytics, you’ll never let that error make it to the real world. Our platform tracks your team's progress and identifies any areas of weakness, allowing you to address them before they are taken advantage of by a bad actor.
- Double-Brokerage: With Learn to Win, you can quickly create tailored training that teaches your team how to identify red flags associated with double brokering scams. Our easy-to-use platform lets you proactively address new threats as they emerge, ensuring your team is always one step ahead.
New cyberthreats are constantly arising and your cybersecurity training needs to keep up. Continuous cybersecurity training isn’t just a smart strategy; it’s a necessity to protect your brokerage and its assets.
With Learn to Win, we make this process efficient and effective so your organization remains secure. Because if data is indeed the new currency, shouldn’t you invest in protecting it like you would your own finances?
Secure Your Freight Brokerage’s Future with Learn to Win
In the face of ever-evolving cyber threats, standing still isn’t an option. It’s time to step forward, embrace change, and turn challenges into opportunities. With Learn to Win as your partner in cybersecurity training, you’re choosing to equip your team with the tools they need to stay ahead of the curve and safeguard your freight brokerage.
Ready for your cybersecurity breakthrough? Reach out to our team today and let's start this journey together. We're confident we can make the difference for you.
