NGN International, a full-fledged systems integrator and IT consultant headquartered in Bahrain, and Group-IB, a global threat hunting and intelligence company, warned of a significant increase in the number of scams that involve brand abuse around the world. Banks, government organizations, and private companies should remain vigilant and continue improving awareness of this type of fraud.
“According to Group-IB, the most characteristic manifestations of brand abuse are fraudulent websites, fake and phishing websites, fake mobile apps and unauthorized advertising,” says Mr. Yaqoob Al Awadhi, CEO at NGN International. “Every brand is susceptible: a bank, a retail, or even an oil or gas company. The fraudsters tend to hikack strong, widely recognized and trusted brands with a loyal customer base.”
“It’s extremely critical that individuals and companies follow all precautions to protect themselves against brand impersonating fraud, especially in light of the (COVID-19) pandemic that accelerated the digital transformation and expansion in digital financial services and online shopping.” Al Awadhi said concluding his statement.
In order to promptly protect companies, institutions and organizations in Bahrain against abuse of their brands NGN International has teamed up with Group-IB to offer a technological service designed to detect and eliminate threats to brands online called Group-IB’s Brand Protection.
Andrey Busargin, Deputy CEO for Brand Protection and Anti‑Piracy at Group-IB, explained that Brand Protection identifies attacks on the brand online and detects fraudulent schemes no matter how complex they are. The service significantly expands attack analysis and prevention capabilities. Social media communities illegally using a corporate brand are detected and closed as well.
“Simply blocking fake pages or accounts impersonating brands is like trying to kill the Hydra: with every resource blocked, new resources appear,” says Andrey Busargin. “Effective monitoring and blockage of brand abuse can only be achieved with the automated machine-learning powered brand protection system fueled by regularly updated knowledge base about cybercriminals’ infrastructure, tactics and tools.”
The two companies have a history of successful cooperation in the region: in April 2019, Group-IB and NGN launched the first 24/7 intelligence-driven security operation center (SOC) in Bahrain to help local companies in detection and prevention of cyberattacks.