The Importance of Brandjacking Prevention: An Analysis of Memcyco’s Real-Time Detection and Protection Solution

Memcyco Announces Real-Time Website Impersonation Detection and Prevention Solution

Tel Aviv based cybersecurity startup, Memcyco, has announced the availability of its real-time website impersonation detection and prevention solution. The company has also recently completed a successful $10 million seed round led by Capri Ventures and Venture Guides.

The Problem

Brandjacking, where malicious actors create fraudulent copies of a brand’s website to trick users into revealing sensitive information, is increasingly common globally. In 2022 alone, 20% of consumers collectively lost more than $2.6 billion due to imposter scams according to the U.S. FTC Consumer Sentinel Network’s data book.

The Solution

Memcyco is tackling this issue with a Proof of Source Authentication (PoSA™) technology that delivers Zero Day protection and real-time detection. The technology uses artificial intelligence to study behavioral patterns, identify irregular activity, and alert organizations when a website impersonation attack is detected. PoSA™ also involves a digital watermark displayed on the brand’s actual website, which ensures customers of the website’s authenticity.

The Benefits

The benefits are plenty. Brands that integrate PoSA™ into their website can help to protect customers from impersonations, minimizing the cost of damages to both brands and their customers. This allows for a secure environment and affinity for the brands’ customers, promoting digital trust. This reduces the need for user education efforts and decreases the snowball effect that prevents users from interacting with digital properties. Additionally, the technology can boost brand reputation and trust among end users.

Expert Opinion

According to Alex Pinchev, the Founder and Managing Partner at Capri Ventures, Memcyco is the first company to provide a real-time solution to the problem of phishing-based brandjacking scams. Whereas existing approaches are mostly after-the-fact and leave organizations unaware of which users fell victim to the attack.

Conclusion and Advice

Memcyco’s real-time website impersonation detection and prevention solution is a much-needed technology that offers protection from brandjacking. It is a good reminder for businesses to prioritize their cybersecurity, especially with the increase in cyberattacks during the pandemic. As businesses continue to move online, Memcyco‘s solution combines multiple layers of security and verification to deliver a comprehensive brand protection suite. Companies should consider integrating PoSA™ technology into their website to help boost customer trust, reduce the risk of impersonations, and protect their reputation.