One of the biggest challenges for businesses in cybersecurity is the number of fake domains and phishing attacks, which significantly impact businesses during peak shopping periods.
These cybercrimes present a dual threat: deceiving customers and breaching internal security. Fake domains mimic legitimate brands to mislead customers, leading to financial and data losses, while phishing attacks target internal networks, compromising sensitive company information. This dual menace not only undermines customer trust, but also threatens the overall security posture of businesses.
The 2022 Domain Security Report for the Forbes Global 2000 companies highlights these attacks’ prevalence. When looking at the .AI domains, 43% are registered to third parties, not the regular domain owner. This is even worse for domains resembling top brands, in which 79% of these domains are owned by non-affiliates. Any of these domains can be used in attacks to mislead customers.
In practice, this would be a manageable problem if companies were prepared. Still, the report shows that 72% of companies have less than half of the necessary security measures. This creates a huge opportunity for cybercriminals to run wild using fake domains.
It does not have to be this way. Companies have a powerful ally in predictive AI to combat fraudulent domains. This technology is a game-changer in spotting fake websites and phishing scams. It strengthens a company’s defenses both online and inside its own systems. Predictive AI works ahead of time to catch risks, learning from each new threat.
An example of AI in action comes from December 2022 when BforeAI detected a sophisticated brand impersonation attack targeting Citizens Bank. A malicious domain resembling the bank’s legitimate website was designed to deceive users into divulging sensitive information like credit card details and security answers. BforeAI's swift identification of this domain prevented potential financial losses and data breaches just a day after its creation. This proactive intervention by BforeAI effectively safeguarded individual consumers and corporations associated with Citizens Bank from significant cyber threats and financial damages.
Predictive AI solutions feature continuous monitoring and analysis of potential threats, including those from the dark web. These solutions identify and stop emerging risks before they turn into full-blown attacks. Predictive AI lets businesses stay one step ahead of cybercriminals by continuously scanning for and reviewing patterns similar to malicious activities. Integrating dark web threat feeds enhances this capability, so even the sneakiest threats are detected and addressed. This approach allows businesses to stay one step ahead of cybercriminals, stopping attacks before they cause damage.
Predictive AI is the only solution able to effectively manage the large quantity of data necessary to identify fake domains from approximately 630 million existing and newly registered domains. By preemptively identifying and taking down these cyber threats, AI systems prevent financial loss and protect against data breaches that damage customer confidence.
It goes beyond simply preventing breaches; stopping attacks before they start has a less direct but equally important impact.
- Protects brand reputation and customer trust by not being associated with fraudulent activities of fake domains.
- Prevents the disruption and loss of productivity businesses endure to stop and recover from an attack.
- Maintains compliance with regulatory standards such as PCI-DSS, GDPR, and SOX, which rely on keeping customer data secure.
The integration of predictive AI in cybersecurity is necessary for companies looking to protect their brand and reputation. BforeAI is a leader in predictive analytics, detecting and stopping DNS-based attacks before they can damage a company’s brand. BforeAI helps stop complex threats, especially during critical sales seasons and peak shopping periods.
By leveraging such technologies, companies can maintain security and customer trust, ensuring immediate protection and setting a foundation for a more secure, resilient digital landscape in the face of constantly evolving cyber threats.
