Practical Review: Memcyco’s Threat Intelligence Solutions
Website counterfeiting, also known as brand hijacking or website spoofing, has become a significant threat to online businesses. Malicious actors replicate legitimate websites to deceive customers, leading to financial fraud and data theft, causing reputational damage and financial losses to organizations and customers.
The growing threat of phishing and brandjacking
Research shows that by 2023, a new phishing website will be created every 11 seconds. Often, customers hold companies accountable for data breaches, even if the company was the victim of fraud.
Current market solutions rely on threat intelligence tools that hunt for fake websites and attempt to shut them down. However, the removal process can be time-consuming, leaving the fake site active and the scope of the attack remaining unknown during the critical exposure window (the time between the fake site’s launch and shutdown).
- Bad actors research target businesses and use the information gathered to create a parody of the original website.
- The organization’s customers fell into the trap and were tricked into sharing personal data.
- The company does not know and cannot see the scope of the attack. They don’t know who was attacked, nor do they know the details of the affected customers.
Uncovering the challenge of unseen threats in the realm of website counterfeiting
While organizations spend millions on threat intelligence solutions to protect their domains and reputations, they only learn about suspicious domains that have been discovered, but not at all how many users were compromised, who fell for the scam, and what the potential risks are. What damage. If no customers complain, the company is left in the dark. Companies and their customers are vulnerable during exposure to a spoofed website that remains active (even if the impersonation website is detected). Now, there’s a new approach on the market that addresses this challenge.
A new perspective; redefining protection with Memcyco
Memcyco is an instant website spoofing protection solution based in Tel Aviv that redefines protection against website impersonation. The solution protects customers and organizations from the moment the attack exposure window opens, regardless of its duration. This article takes an in-depth look at Memcyco’s Proof of Source Authenticity (PoSA™) solution and provides an in-depth analysis of its capabilities.
Simplicity guaranteed with agentless installation
To protect websites from spoofing, Memcyco’s solution can be easily installed on a real website or its network in minutes. Various attack scenarios were tested to evaluate its effectiveness. Next let’s look at the results of their process.
1. Instant detection and prevention of website fraud
To simulate an impersonation attack on a customer, we created a clone of the protected website using several available “deception toolkits.”
We then navigate to the cloned website, just as we would click on a fake website URL – something innocent customers would do if they received a fake website URL in an email or text message that they believed was from a real organization.
Immediately after trying to load the URL, the following message appears:
At the same time, the Memcyco console provides detailed attack information to the security operations team.
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| Image source: Memcyco |
2. Memcyco’s Proof of Source Authenticity (PoSA™) technology
Memcyco’s PoSA™ alerts on other significant events that may lead to an attack, such as attempts to set up impersonation websites. Such reconnaissance efforts by bad actors raise the following alarms:
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| Image source: Memcyco |
3. Enhance digital trust: Use digital watermarks to prove the authenticity of real websites
Memcyco increases user trust by eliminating the need for customers to rely on security checklists to determine whether the website they are on is fake or real. Memcyco’s products verify the authenticity of a website by displaying a digital watermark unique to the user, thus proving the authenticity of the website to customers.
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| Image source: Memcyco |
4. Memorable and personalized user authentication
Organizations invest heavily in educating customers to be wary of such scams, essentially trying to turn them into web-savvy users who can spot fake emails and websites and avoid scams. Memcyco provides a simple solution to this “fake or real” dilemma that doesn’t rely on the user’s ability and willingness to perform a security checklist every time they visit a brand’s website.
To do this, Memcyco can display a digital watermark to prove to customers the authenticity of the website. Provide users with a unique secret presented in the watermark, which they can personalize for easy identification. PoSA™ watermark secrets are unique and memorable for every user. Imposter sites cannot copy it, ensuring users only see their own code on the real site. Customers can personalize the watermark secret to something they can easily recall – a text code or an image.
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| Image source: Memcyco |
5. Go beyond the surface: Use backend dashboard tools to understand attack visibility
Memcyco’s PoSA™ solution includes back-end dashboards and reporting tools for instant brand counterfeit monitoring and post-event attack analysis. A global view of attack locations and counters helps organizations stay informed and gain a complete understanding of the scale and details of an attack.
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| Image source: Memcyco |
6. Start workflows through seamless integration with SIEM
PoSA™ integrates with SIEM for workflows such as URL removal and account takeover prevention. Memcyco alerts initiate these processes.
Memcyco’s Advantages in Defending against Website Impersonation
- Reduce data leakage and privacy issues
- Corporate customers suffer less financial losses
- Reduce costs for the company
- Improve customer retention and engagement
- Support regulatory compliance
- Protect brand reputation
Memcyco website deception solution summary
Memcyco’s solutions go beyond demolition methods and proactively protect its customers and Their Customers during critical exposure windows. It’s an agentless solution that promises to reduce brand reputation damage and protect consumers from scams. With its functionality and instant functionality, Memcyco brings a refreshing change in the world of phishing, website spoofing, and ATO (Account Takeover). It redefines website spoofing protection, providing companies and their customers with maximum attack visibility and protection.
