Brand impersonation: how much do companies lose due to cyber fraud?

Brand impersonation causes damage to brands both economically and in terms of reputation. Reduces risks

July 11, 2024

Cybersecurity

A recent investigation by The Guardian, Le Monde and Die Zeit has revealed a new cyber fraud that has affected at least 800,000 people in Europe and the United States. A network of fake online shops, allegedly operated from China, selling top brand items is believed to have obtained the personal and banking details of almost a million people .

Brand impersonation

 

Investigators have highlighted this fraud as one of the largest scams of its kind, with more than 76,000 websites created, while warning of a growing trend in online crime.

This information coincided with the theft of customer data from three of the most important companies in Spain: Telefónica, Iberdrola and Banco de Santander. Millions of customers, employees and former employees have been affected. What is happening? Cybercrime list of indonesia consumer email activities are becoming more and more sophisticated and are already one of the main problems for all types of companies , generating situations that directly affect their bottom line. What are the main types of cyberattacks? What are the best tips for protecting companies ?

list of indonesia consumer email

Brand impersonation has an economic impact on companies

The economic losses of companies due to cyberattacks are growing every year. The annual report of the FBI’s Internet Crime Complaint multilingual seo or multinational seo, differences between the two strategies Center indicated that, during 2023, there was an increase of 79,474 more complaints than in the previous year. But what has really raised the alarm bells, beyond the quantity, is the Brand impersonation economic impact of these cybercrimes, which have exceeded $12.5 billion in losses , 22% more than in the previous year.

If we focus on Spain, the growth is even esperanto leads  more alarming. According to the latest Hiscox Cyber ​​Preparedness Report , in 2023, the cost of cyber fraud in our country would have grown by 43% compared to 2022 . And if we focus on the cost of ransomware recovery, the increase compared to the previous year was 88%!

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