DevTools Advanced VS Memcyco

Memcyco's answer:

In our State of Digital Impersonation Fraud Resilience 2024 survey, we learned that, of the 72% of businesses that use a digital impersonation protection solution, only 6% confirmed its effectiveness. Memcyco’s product provides a real-time alternative that proactively protects companies and their customers from phishing-based impersonation attacks.

After a quick install into your site code or injection via WAF, you’ll gain instant digital impersonation, scam detection, protection, and disruption capabilities. These capabilities enable proactive, rapid response, attack mitigation, and safeguarding against ATO fraud and similar scams.

Memcyco's answer:

Any and all industries affected by digital impersonation scams and customer ATO fraud, including:

• Banking and Financial Institutions
• Airlines and Travel Industry
• e-Commerce and Retail
• Crypto and e-Wallets
• Logistics and Courriers
• Educational Institutions

Memcyco's answer:

Uniquely, Memcyco provides real-time visibility of digital impersonation scams from their inception, proactively protecting customer accounts and assets for as long as stolen data exists online. Memcyco customers can predict ATOs, identify individual scam victims, and close risk gaps left by incumbent solutions regardless of takedown.

Only Memcyco:

1. Detects and analyzes digital impersonation attacks in real-time, protecting your business and customers from fake websites and related scams.

2. Delivers real-time visibility of the scope and magnitude of attacks as they evolve, and supplies full data about the attacking website, attack device, and each individual victim.

3. Provides protection during the ‘window of exposure’ and beyond, from when malicious websites go live, and while stolen data is still available online. Memcyco enables two modes of protection: an overt one, with red alerts warning users from entering malicious sites, and a covert one, where information provided by an attack victim is replaced by marked decoy data.

Memcyco's answer:

Generative AI, phish kits, ‘Phishing-as-a-Service’ – digital impersonation scams now come ready-made, and they’re exploding, multiplying the cost of fraud and remediation. In our State of Digital Impersonation Fraud Resilience 2024 survey, we learned that, of the 72% of businesses that use a digital impersonation protection solution, only 6% confirmed its effectiveness.

That's why we started Memcyco – to make preventing and disrupting phishing-related digital impersonation scams easier than launching them.

In short, Memcyco exists to provides an effecitive, real-time alternative to incumbent solutions and limited approaches, without the tradeoff of more fraud checks and balances that add user friction.

What are those limited approaches that are ripe for disruption?

Scanning & takedown - Weakens the threat (temporarily) - But can’t detect all offending sites - Zero pre-takedown protection - Scams detected mostly by users - Doesn’t deliver investigable data - Increases compliance liability risk - Scanning

Multifactor Authentication - Provides security guardrails - Adds repeat customer friction - Vulnerable to social engineering attacks such as MitM

Suspicious Login Verification - Adds some ATO safeguards - But is based on behaviorTreats legit users as suspects - Knows nothing about scams - Cannot predict ATO attacks

Ultimately, if it's not real time, it's not real protection.