Memcyco Inc., supplier of digital belief know-how designed to guard firms and their clients from digital impersonation fraud, launched its inaugural 2024 State of Web site Impersonation Scams report. Notably, Memcyco’s analysis signifies that almost all of firms wouldn’t have enough options to counter digital impersonation fraud, and that almost all solely study assaults from their clients.
Greater than half of all respondents (53%) stated their present cybersecurity options don’t successfully deal with web site impersonation assaults, and 41% stated their present options solely shield them and their clients “partially.” Simply 6% of manufacturers claimed to have an answer that successfully addresses these assaults regardless of 87% of firms recognizing web site impersonation as a significant problem and 69% admitting to having had these assaults carried out in opposition to their very own web site.
The creation of pretend web sites used for phishing-related assaults (that are a high reason behind account takeover (ATO)) is a rising downside 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 thrice the quantity reported stolen in 2020.
The report discovered that 72% of firms have a monitoring system in place to detect pretend variations of their web site, however nonetheless, 66% stated that they primarily study digital impersonation assaults when they’re flagged by clients.. Extra alarmingly, 37% of respondents study web site impersonation assaults because of “model shaming” by impacted clients on social media.
The shortcoming to adequately shield in opposition to digital impersonation fraud raises a query about firms’ duty to reimburse their clients. 48% of survey respondents are already conscious of upcoming laws prone to implement buyer reimbursements, making efficient safety in opposition to digital impersonation fraud a ‘must-have’ for avoiding income loss.
“One of the alarming takeaways from the report is that web site impersonation scams are rising as a result of attackers depend on firms having restricted visibility into these sorts of assaults,” stated Israel Mazin, Chairman and CEO of Memcyco. “This creates a obtrusive blindspot in cybersecurity — the lack of firms to guard their clients on-line.”
The State of Web site Impersonation Scams report was performed along with World Surveyz Analysis, based mostly on the responses of 200 full-time workers starting from Director to C-level executives at organizations within the security, fraud, digital, and net 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 complete report could be discovered right here.
About Memcyo
Memcyco affords a collection of AI-based, real-time digital danger safety options for combating web site impersonation scams, defending firms and their clients from the second a pretend web site goes stay till it’s taken down. Memcyco’s groundbreaking exterior menace intelligence platform supplies firms with full visibility into the assault, attacker, and every particular person sufferer, serving to to stop ATO fraud, ransomware, and data breaches earlier than they happen. Memcyco’s “nano defender” know-how detects, protects, and responds to assaults as they unfold, securing tens of thousands and thousands of buyer accounts and decreasing the adverse influence of assaults on workload, compliance, buyer churn, and popularity.
About World Surveyz
World Surveyz is a world 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
