Netcraft Unveils New Tool to Combat Phone Scams Targeting Customers

Netcraft's New Initiative Against Phone Scams

Netcraft, a leader in digital risk management, has launched an innovative solution aimed at combating the surge in phone scams that impersonate various brands and organizations. With the impersonation scam market now nearing an alarming $3 billion, the necessity for robust protective measures is more urgent than ever.

The newly introduced Phone Scam Disruption service is designed to automatically detect and eliminate fraudulent phone numbers used in impersonation schemes. By dismantling these threats at their roots, the tool promises to stop the onward spread of scams before they can affect unsuspecting customers. In several pilot programs, this system has achieved a remarkable success rate of 99.8%, having taken down over 50,000 malicious phone numbers to date.

Understanding the Threat

Today, scammers employ tactics such as posting fake customer service numbers online, luring victims into conversations meant to extract sensitive information. Commonly referred to as smishing (SMS phishing) and vishing (voice call phishing), these scams enable bad actors to impersonate legitimate organizations, thereby gaining access to personal data, including account credentials and financial information.

The implications of such scams are vast. According to the FCC, the median loss per scam phone call last year was $1,480, making it vital for businesses to adopt preventative strategies. Understanding the urgency of the situation, Netcraft has focused on providing a proactive defense mechanism for organizations looking to safeguard their reputation and customer base.

How It Works

Netcraft's Phone Scam Disruption solution revitalizes the approach to combating fraud in the following ways:

1. Automated Takedown: The system quickly identifies and removes fraudulent phone numbers and the accounts associated with them. This automation significantly reduces the time and effort that security teams would otherwise spend on manual investigations.
2. Industry-Leading Response Times: With its advanced relationships with global carriers and automation capabilities, Netcraft boasts a median takedown time of just 21 hours, rapidly disrupting potential threats.
3. Global Coverage: The solution operates continuously, worldwide, ensuring threats are disrupted round-the-clock, benefiting organizations everywhere.
4. Scalability: It effectively detects and disrupts not only phone numbers but also URLs and QR codes linked to fraudulent activities. This ability to handle various scam formats enhances its utility in a rapidly evolving digital landscape.
5. Lower Costs: By preventing fraud losses and minimizing lengthy investigations, the system also helps reduce overall operational costs.

Commitment to Customer Safety

Ryan Woodley, CEO of Netcraft, emphasized the growing threat posed by phone scams, particularly as technology evolves. “With the rise of AI and phishing-as-a-service, it’s becoming increasingly difficult to thwart these attacks,” he stated. “Our solution not only targets these fraudsters but also alleviates the burdens on security teams, allowing them to focus on strategic responses.”

This new offering from Netcraft demonstrates a commitment to protecting customers and maintaining brand integrity. As threats become more refined and sophisticated, the need for advanced tools like Phone Scam Disruption will only grow, ensuring organizations can effectively shield their clientele from the consequences of phone scams.

About Netcraft

Netcraft is globally recognized for its pioneering efforts in online brand protection and digital risk management. Trusted by various high-profile clients, including major banks and tech giants, the company employs cutting-edge technologies such as AI and machine learning. They currently take down approximately one-third of all phishing sites worldwide and have successfully blocked over 225 million malicious URLs. For more information, visit www.netcraft.com.