The Risks Incurred by Companies That Do Not Use Open Source Intelligence Services In Their Business Operations
Open Source Intelligence, or OSINT services, have become an irrevocable part of doing business in the modern world, where having information on clients and counter parties is critical to ensuring the securityand uninterrupted nature of operations.
The open sources available reveal vast amounts of data about anyone who has ever left a digital footprint, allowing companies or interested parties to gather intelligence on individuals or companies without surpassing the boundaries of the law or any regulations on the use of personal information.
Given that social network and internet users freely and voluntarily share information on their behavior habits and statuses, having access to such data can allow businesses to reveal critical weaknesses in their own structures, potentially harmful behavior among employees, or detect fraud or misconduct on the part of clients and counterparties. The benefits of using OSINT are numerous.
There is a downside to refraining from resorting to such services in daily operations. Companies that do not use OSINT face multiple risks, regardless of their area of business.
Examples of neglecting OSINT and allowing bad reputations to destroy or significantly harm a company's image are numerous. In 2016, Facebook defamed itself during the highly controversial US presidential elections and started looking like a disseminator of toxic misinformation. In 2018, Facebook's brand image was tarnished by a massive personal data breach that released millions of personal account details to the open public. In 2019, the company's image suffered another blow when employees started complaining about appalling working conditions.
Boeing is another shining example of bad reputation management and OSINT neglect. In 2019, the company suffered heavy reputational damages when it was revealed, after a series of plane disasters, that the company had been neglecting open claims about poor engineering and aircraft servicing, and did not properly screen its contractors for quality or conduct. The result is hundreds of deaths in aircraft crashes and the loss of multi-billion contracts on the ill-fated Boeing 737-Max model.
The given material will examine the risks that are affected by information breaches,
as OSINT is all about conducting searches for information in open sources.
- Market risks
- Credit risks
- Liquidity risks
- Operational risks
- Legal risks
- Reputational risks