Memcyco Inc., supplier of digital belief expertise designed to guard corporations and their prospects from digital impersonation fraud, launched its inaugural 2024 State of Web site Impersonation Scams report. Notably, Memcyco’s analysis signifies that almost all of corporations should not have ample options to counter digital impersonation fraud, and that the majority solely find out about assaults from their prospects.
Greater than half of all respondents (53%) stated their present cybersecurity options don’t successfully tackle web site impersonation assaults, and 41% stated their present options solely defend them and their prospects “partially.” Simply 6% of manufacturers claimed to have an answer that successfully addresses these assaults regardless of 87% of corporations recognizing web site impersonation as a serious subject and 69% admitting to having had these assaults carried out towards their very own web site.
The creation of faux web sites used for phishing-related assaults (that are a prime reason behind account takeover (ATO)) is a rising drawback that has earned cybercriminals an astonishing $1 billion+ in 2023 alone, in line with knowledge from the U.S. Federal Commerce Fee. That’s greater than 3 times the quantity reported stolen in 2020.
The report discovered that 72% of corporations have a monitoring system in place to detect pretend variations of their web site, however nonetheless, 66% stated that they primarily find out about digital impersonation assaults when they’re flagged by prospects.. Extra alarmingly, 37% of respondents find out about web site impersonation assaults because of “model shaming” by impacted prospects on social media.
The lack to adequately defend towards digital impersonation fraud raises a query about corporations’ accountability to reimburse their prospects. 48% of survey respondents are already conscious of upcoming rules prone to implement buyer reimbursements, making efficient safety towards digital impersonation fraud a ‘must-have’ for avoiding income loss.
“One of the vital alarming takeaways from the report is that web site impersonation scams are rising as a result of attackers depend on corporations having restricted visibility into these sorts of assaults,” stated Israel Mazin, Chairman and CEO of Memcyco. “This creates a obvious blindspot in cybersecurity — the lack of corporations to guard their prospects on-line.”
The State of Web site Impersonation Scams report was performed along with World Surveyz Analysis, primarily based on the responses of 200 full-time staff starting from Director to C-level executives at organizations within the security, fraud, digital, and internet industries, working transactional web sites with site visitors of greater than 10,000 month-to-month visits.
Memcyco’s answer suite addresses the rising tide of web site impersonation scams through the use of real-time alerts to safe end-users on each web site go to and supplies organizations with unparalleled insights into the scope and influence of all assaults on their websites.
The total report might be discovered right here.
About Memcyo
Memcyco gives a collection of AI-based, real-time digital threat safety options for combating web site impersonation scams, defending corporations and their prospects from the second a pretend website goes reside till it’s taken down. Memcyco’s groundbreaking exterior risk intelligence platform supplies corporations with full visibility into the assault, attacker, and every particular person sufferer, serving to to forestall ATO fraud, ransomware, and data breaches earlier than they happen. Memcyco’s “nano defender” expertise detects, protects, and responds to assaults as they unfold, securing tens of thousands and thousands of buyer accounts and decreasing the detrimental influence of assaults on workload, compliance, buyer churn, and repute.
About World Surveyz
World Surveyz is a worldwide analysis firm offering survey report-as-a-service that covers the entire course of of making an insightful and impactful B2B or B2C report for any goal market. World Surveyz was established in 2020 and is the brain-child of Ramel Levin.
Contact
Sheena Kretzmer
sheena@memcyco.com
