A renowned international financial services organization became aware of fraudsters impersonating their brand and employees on social media platforms around the world. The scammers fooled a number of the organization's customers into believing these social media profiles were legitimate and ended up stealing personally identifiable information and money from the victims.
At the outset, the organization lacked visibility into the extent of the problem. They didn't know how to find these brand impersonations across the entire internet. Even if they could find the scams, they didn't know how to efficiently and effectively stop them. Each minute that passed further damaged their brand and credibility and led to more customers falling victim. For help addressing the problem and its magnitude, the financial services organization approached ITx.
Al-POWERED ONLINE BRAND
The ITx team sprang into action immediately, training its Al-based detection engine to recognize legitimate and illegitimate uses of the brand name, brand imagery, brand messaging, executives' names and photos, and more. Within an hour, the engine had identified more than three dozen deceptive social media profiles impersonating the brand and its executives' likenesses on Facebook, Twitter, and Instagram.
Because ITx delivers brand protection as a managed service, the financial services organization immediately increased their visibility into brand impersonation attacks with little-to-no effort on their part.
PREEMPTING FRAUD WITH
In addition to the three dozen malicious profiles originally discovered, ITx detection engine found more than 200 additional Twitter and Facebook profiles using variations of the company's logo, taglines, and other branding. Scammers had created these deceptive accounts, but not yet made use of a majority of them. ITx identified these scams before they lured a single victim - saving untold amounts of time, effort, and customer goodwill.\
DILIGENT RESPONSE, FOLLOW-UP
As the ITx detection engine scoured the internet and social media platforms for more impersonations, our security operations team began its work to remove the deceptive profiles from the platforms. With a history of successful removals of fraudulent social media profiles, the team followed its proven social media profile removal methodology:
In the end, the financial services organization offloaded brand protection efforts to ITx resulting in the detection and disruption of more online brand impersonations more quickly. The company no longer had to rely on customers to report online brand impersonations once the fraud had already occurred. Proactive detection, a proven removal process, and diligent follow-up from ITx significantly reduced the time it took to detect and address brand impersonation attacks. This correlated directly to a reduction in fraudulent transactions and customer complaints about online scams related to the brand.
The financial services company continues to protect its brand across digital channels - including the web, social media, and mobile apps - with ITx able to find and eliminate online scams as they arise. This proactive approach reduces online fraud and digital risk and prevents expensive incident response procedures, lost sales, customer dissatisfaction and churn, and damage to a company's brand and reputation.
© 2023 SDSolutions IT Outsourcing Inc. All Rights Reserved.