SHIELD, a global cyber security provider and compliance solution, has launched a new cyber fraud solution to help small businesses safeguard their online business amid the COVID-19 pandemic.
Dubbed DeviceSHIELD, this cyber security solution examines the authenticity of a digital device and offers real-time actionable intelligence so business owners can identify counterfeit mobile devices and avoid fraudulent transactions.
SHIELD says DeviceSHIELD analyzes thousands of attributes to identify and flag a fake device and pinpoint exactly which malicious tools a device uses to commit the fraud. According to reports, hackers use many stealthy tools to infiltrate safety systems, including emulators, app cloners, virtual private networks (VPNs) and global positioning system (GPS) spoofers.
Another interesting DeviceSHIELD feature is continued risk profiling throughout a user session. Based on risk-level, DeviceSHIELD assigns a numerical value or risk score to each device interaction. Users can leverage DeviceSHIELD can act as a standalone solution or with existing cyber security systems.
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"More online transactions means more vulnerabilities to cyber fraud, and the COVID-19 pandemic has made this more relevant than ever," said Justin Lie, CEO of SHIELD.
"43% of online attacks are now aimed at small businesses, with only 14% actively prepared to defend themselves. We have created a technology to protect online industries we believe are worst affected by COVID-19. However, any businesses with less than 100,000 monthly active users will receive it for free, which equates to roughly 90% of all online businesses."
