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These risks don’t only hurt customers. They expose the brands behind the programs to customer churn and potential financial loss, reputational damage, operational disruptions and a range of legal and regulatory challenges.
On the flip side: retailers and brands that proactively strengthen cybersecurity around loyalty programs can cultivate greater consumer trust and retention. At EY Canada, we recommend strengthening loyalty program security by integrating short-, medium- and long-term tactics into a three-staged plan that:
- Close immediate security gaps that can be easily exploited.
- Build internal capabilities and proactive detection mechanisms while reinforcing external interfaces and educating users.
- Embed loyalty programs within enterprise security frameworks to foster sustainable trust and transparency and evolve as new technologies — and threats — emerge.
Ready to take action? Let’s treat loyalty security as the strategic priority it deserves to be — before the next breach makes headlines. We’ve outlined eight key tactics to embrace at each strategic phase to help you prevent attacks, reassure customers and reinforce trust overall.