Spike in E-Commerce Fraud ahead of Cyber Monday

RNS Number : 5261T

Brandshield Systems PLC

25 November 2021

 

25 November 2021

BrandShield Systems plc

("BrandShield," the "Company," or the "Group")

BrandShield Report Shows Spike in E-Commerce Fraud Leading Up to Cyber Monday

-  Cybercriminals increasingly targeting brands including Nike, Apple and PlayStation

BrandShield Systems plc (AIM: BRSD), a leading provider of cybersecurity solutions from brand protection to online threat hunting, announces new data regarding the rise of e-commerce fraud ahead of another potentially record-breaking Black Friday shopping event, which saw consumers spend over $9 billion online during 2020.

BrandShield's report analysed the top products across popular consumer categories including apparel, luxury goods and electronics leading up to the holiday season. Through a deep analysis of websites, domain names and social platforms, the Company found that domain registrations relating to popular electronic brands and consumer products increased dramatically. From October 2020 to November 2020, PlayStation and Nike were the first and second most targeted brands, with suspicious related domain registrations increasing by 127% and 88% respectively. Suspicious domain registrations for Airpods increased 81% over the same period.

The report also found that online stores for big-box retailers and online marketplaces were popular targets for cybercriminals, with suspicious domain registrations related to online retailers increasing markedly from October 2020 to November 2020. Target, BestBuy, and Costco saw domain registrations increase by 138%, 89%, and 141%, respectively.

BrandShield has provided consumers with a number of tips to help combat the mounting threat of seasonal shopping fraud analysed within their report. This includes being aware of typos within website URLs, grammatical or spelling errors across websites, text or private messages through social media platforms, negative reviews and padlock images to the left of a URL on the web browser, all of which indicate that the website is likely to be fraudulent.

Yoav Keren, Chief Executive Officer of BrandShield, commented:

"We anticipate cybercriminal activity targeting online shoppers to intensify further this year, and we have already begun seeing an uptick of fraudulent product listings and websites. The critical holiday shopping period calls for even more vigilance by consumers to make sure they are not giving up sensitive personal or financial information to fraudsters looking to capitalise on deal seekers."

Enquiries:

BrandShield Systems plc Yoav Keren, CEO	[phone]
Spark Advisory Partners Limited (Nominated Adviser) Neil Baldwin / Andrew Emmott / James Keeshan	[phone]
Shore Capital (J oint Broker) Toby Gibbs / James Thomas (Corporate Advisory) Henry Willcocks (Corporate Broking)	[phone]
Tennyson Securities (Joint Broker) Peter Krens	[phone]
Vigo Consulting (Financial Public Relations) Jeremy Garcia / Antonia Pollock [e-mail]	[phone]

About BrandShield

BrandShield is a leading cybersecurity company founded in Israel by cybersecurity experts that protect the world's largest brands and consumers from phishing attacks, online fraud, and other online threats posed by dangerous cybercriminals. Through its AI/ML platform, BrandShield identifies, tracks, and eliminates online threats for global brands and organizations, including Bristol Myers Squibb, Levi's, NewBalance, Swisscom, and the Pharmaceutical Security Institute. BrandShield is quoted on the London Stock Exchange AIM under ticker symbol BRSD. To learn more about BrandShield, please visit the company website at   www.BrandShield.com .

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