NEW YORK CITY, NY / ACCESSWIRE / July 10, 2024 / Memcyco, a provider of digital trust technology designed to protect companies and their customers from digital brand impersonation fraud, has been recognized for its innovative approach with a 2024 Global Recognition Award. The award is granted to organizations of all sizes for their significant achievements and contributions in their respective industries.
Memcyco has developed a first-of-its-kind platform focused on detecting, countering and controlling digital brand impersonation and account takeover (ATO) fraud. Brand impersonation attacks involve creating a fake version of a legitimate website to fool customers into mistakenly entering their personal information. They are then immediately vulnerable to ATO attacks, and bad actors can access their bank account or use their personal data for identity theft.
Users are often directed to these imposter sites via phishing links sent in emails or social media referrals that purport to be from a company representative, asking the user to take some kind of action to protect their account. Website impersonation attacks have become one of the most common kinds of cyber threats, with data from the U.S. Federal Trade Commission showing that these kinds of attacks resulted in consumer losses of more than $1.1 billion in 2023.
Memcyco has quickly established itself as an industry leader, providing a disruptive technology for real-time protection against digital impersonation to ensure that brands and their customers stay safe, as soon as a spoofing attack begins and even after the fake site's takedown process has begun. Its solution suite uses real-time alerts to warn users when they are visiting an illegitimate site and simultaneously provides organizations with unparalleled full visibility into the scope and identity of the victims impacted by the attack.
The 2024 Global Recognition Award highlights Memcyco's significant impact on protecting companies and their customers. Unlike common threat-intelligence scanning solutions, Memcyco stands out with its ability to detect and protect from digital impersonation attacks in real time, as well as analyze the impact of the attacks at the individual victim level. This capability, combined with the financial benefits it enables for companies and the digital trust it cultivates among their customers, distinguishes Memcyco as a global leader in digital risk and ATO fraud protection.
About Memcyco
Memcyco offers a suite of AI-based, real-time digital risk protection solutions for combating website impersonation scams, protecting companies and their customers from the moment a fake site goes live until it is taken down - and beyond. Memcyco's groundbreaking platform provides companies with complete visibility into the attack, attacker, and each individual victim, helping to prevent ATO fraud, ransomware, and data breaches before they occur. Memcyco's nano-defender technology detects, protects, and responds to attacks as they unfold, securing tens of millions of customer accounts and reducing the negative impact of attacks on workload, compliance, customer churn, and reputation.
About the Global Recognition Awards
The Global Recognition Awards is a business award program celebrating achievements in entrepreneurship, innovation, and corporate responsibility. With a rigorous evaluation process and an esteemed panel of international judges, the awards reward leading companies and individuals across various sectors, helping them to boost their credibility and company profile.
CONTACT:
Name: Sheena Kretzmer
Email: sheena@memcyco.com
Phone: +27827743545
SOURCE: Memcyco
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