HOW A REGIONAL BANK GOT AHEAD OF ONLINE BRAND IMPRESONATIONS TO PROTECT THEIR BRAND & CUSTOMERS

AT A GLANCE OBJECTIVE

OBJECTIVE

• Proactively detect and remediate online brand impersonations before customers fall victim

CHALLENGE

• Scam websites going unnoticed until months after they'd gone live and victimized customers
• Unsuccessful attempts to take down a cluster of scam websites hosted in Russia
• Executives needed assurance the problem was being handled proactively

SOLUTION

• ITx Security's brand protection-as-a service and its mix of Al-powered detection, uniquely effective response capabilities, and web beacons to find and eliminate fake websites

RESULTS

• Detection and eradication of brand impersonation attacks before customers fell victim gaining a "proactive edge on the bad guys"
• Improved takedown efficiency-reduced from months to hours
• Estimated detection & disruption of 3 malicious websites a month with an average takedown time of less than a day

CHALLENGE

ELIMINATING THE PRECURSOR TO
PHISHING AND FRAUD

A regional bank managing $30 billion in assets and serving the New York metropolitan area had experienced an increase in scams targeting its millions of customers. Fraudsters impersonated the bank's brand online by cloning its websites, sent phishing e-mails directing the bank's customers to the malicious sites, and tricked victims into entering their credentials. With these stolen credentials the fraudsters then took over customer accounts and stole their money.

The bank had implemented a domain monitoring system, however, customers still called into the bank complaining of scams the system missed. The bank's cybersecurity and threat management team demanded a better way. The team wanted increased visibility into online threats impersonating their brand and targeting their customers. Second, they wanted to identify these scam websites closer to their original creation to head-off phishing and related fraud before it occurred.

SPOTTING AND ADDRESSING FAKE
SITES IN HOURS VS. MONTHS

The bank chose ITx Al-powered online brand impersonation detection engine, its unique anti-cloning web beacons, and its unparalleled threat research and response team to identify and address fake websites more quickly than they could previously. The bank's domain monitoring solution would identify some problematic websites months after they went live, which the director of cybersecurity described as "...useless to us."

The early stages of a phishing campaign consist of the scammer registering a domain, copying the bank's website content to it, and then publishing the page. The bank's Director of Cybersecurity & Threat Management appreciated ITx ability to detect the scam website during these early phases, prior to the launch of the phishing campaign and before any customers fell victim.

He described the thought process of a fraudster they were now able to spot more quickly as follows, "Wow, I didn't expect that to happen. They cut my operation off at the knees."

ITx delivers brand protection as a service and its web beacons take mere minutes to implement. As a result, the bank had immediate insight into the origins of brand impersonation attacks against their bank and users accessing their web content - whether authorized or unauthorized