Memcyco wins 2024 Global Recognition Award for its pioneering approach to digital identity theft and fraud protection from the ATO

Memcyco wins 2024 Global Recognition Award for its pioneering approach to digital identity theft and fraud protection from the ATO

NEW YORK, NY / ACCESSWIRE / July 10, 2024 / Memcycoprovider of digital trust technology designed to protect businesses and their customers from digital brand impersonation fraud, has been recognized for its innovative approach with a 2024 Global Recognition Award. The award is given to organizations of all sizes for their significant achievements and contributions in their respective industries.

Memcyco has developed a unique platform focused on detecting, combating and controlling brand impersonation and account takeover (ATO) fraud. Brand impersonation attacks involve creating a fake version of a legitimate website to trick 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 to steal their identity.

Users are often directed to these imposter sites via phishing links sent in emails or social media referrals that claim to be from a company representative, asking the user to take steps to protect their account. Website impersonation attacks have become one of the most common types of cyber threats, with data coming from United States Federal Trade Commission showing that these types of attacks resulted in consumer losses of more than $1.1 billion in 2023.

Memcyco has quickly established itself as an industry leader, delivering disruptive real-time identity theft protection technology to keep brands and their customers safe from the onset of an identity theft attack and even after the fake site has been taken down. Its suite of solutions uses real-time alerts to notify users when they visit an illegitimate site, while simultaneously providing organizations with unparalleled, comprehensive visibility into the scope and identity of victims impacted by the attack.

The 2024 Global Recognition Award highlights Memcyco’s significant impact on protecting businesses and their customers. Unlike common threat analytics solutions, Memcyco stands out for its ability to detect and protect against digital identity theft attacks in real-time, as well as analyze the impact of attacks at the individual victim level. This capability, combined with the financial benefits it provides to businesses 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-powered, real-time digital risk protection solutions to combat website impersonation scams, protecting businesses and their customers from the moment a fake site goes live to its removal – and beyond. Memcyco’s revolutionary platform gives businesses complete visibility into the attack, the attacker, and each individual victim, helping prevent ATO fraud, ransomware, and data breaches before they happen. Memcyco’s nano-defender technology detects, protects, and responds to attacks as they happen, 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 awards program that recognizes achievements in entrepreneurship, innovation and corporate responsibility. Through a rigorous evaluation process and a renowned international jury, the awards recognize leading companies and individuals across a variety of industries, helping them build credibility and corporate image.

CONTACT:

Name: Sheena Kretzmer
E-mail: (protected email)
Phone: +27827743545

SOURCE: Memcyco