Launch of vaccination fraud detection site, VaxFax

RNS Number : 6579Z

Brandshield Systems PLC

25 May 2021

 

NEWS RELEASE

Monthly vaccine-related website registrations are up 1,600%, with more than 8,000 registered since the beginning of 2021, finds BrandShield

● As Britain surpasses 60 million doses, BrandShield identifies a global increase in online vaccination fraud - and is actively working with the Pharmaceutical Security Institute to stop it

● BrandShield uncovered more than 8,000 suspicious domain names containing the word 'vaccine' and detected 30,000 social media posts and accounts potentially promoting fake vaccine scams

● Cybersecurity firm BrandShield has launched VaxFax - a new site that takes down fake COVID-19 products and vaccines in 24 hours or less using the wisdom of crowdsourced data

25 May 2021: BrandShield (LSE: BRSD), an online threat hunting company specialised in monitoring, detecting, and removing online threats, has launched VaxFax, the first crowdsourced site letting anyone submit fake vaccine websites, social postings, and marketplace listings to keep others from falling victim to harmful COVID-19 sites and scammers.

The news comes as Britain surpasses 60 million doses of the coronavirus jab, and the Israeli firm - established in a nation that is already leading the way globally with COVID-19 vaccinations - is combating online vaccine fraud with an AI and M/L solution powered by crowdsourced data that detect threats in real-time and has them taken down.

With those in the UK able to rely on the NHS for the certification of their jabs, other nations around the world face a different struggle to ensure their vaccination is legitimate as they look to accelerate their vaccine rollouts. In the US and EU, vaccines are available through state-approved vaccination locations. BrandShield is warning that any offer either online, over the phone, or in-person to supply vaccines and charge users any associated cost is a scam.

The launch of VaxFax comes as suspicious COVID-19 vaccine-related web registrations and social media posts have exploded since the beginning of the global vaccination rollout. In the last four months, BrandShield has uncovered over 8,000 suspicious new domain names containing the word 'vaccine' and detected nearly 30,000 suspicious social media posts and accounts promoting fake vaccine scams.

Twitter, Russian networking service VK and Instagram the most affected platforms, accounting for 39%, 29% and 21% of recorded fraudulent vaccine adverts, respectively. BrandShield ran this analysis as part of its collaboration with the Pharmaceutical Security Institute (PSI) - a trade association of pharmaceutical manufacturers focused on patient safety.

In the event that people come across online advertisements, social media posts, websites, or listings on e-commerce sites that offer to sell them a vaccine, they are encouraged to report suspicious links at: https://l.brandshield.com/vaxfax . Once a user has reported a fraudulent site and BrandShield has verified it, VaxFax can remove the scam in less than 24 hours.

Yoav Keren, co-founder and CEO of BrandShield said: "COVID-19 vaccine fraud is out of control, with bad actors growing ever more sophisticated in robbing people of their money and even selling fake vaccines, which can cause bodily harm. These scams pose a great threat to brands and the health and finances of consumers, and now we're empowering everyone to join us in the fight to take them down."

"Our ageing population were already the most at risk of suffering from the pandemic and online fraud; yet now, cybercriminals have combined the two, creating a potentially deadly situation, which is even further amplified in countries around the world where access to vaccines is still very limited. It's a double-whammy and one that we hope to help avoid."

The sophistication of these cyber-attacks has posed a real problem for members of the general public eager to expedite the process of getting a COVID-19 vaccine, mindful of the potential vaccine passports Brits and other nationals may require to get abroad this summer. Cybercriminals are targeting every demographic in society, regardless of age or technological capacity, with notable instances of fraud include organisations creating websites claiming to offer brand name vaccines approved by public bodies.

Scammers use social media platforms as a means to market themselves. These criminals impersonate legitimate pharmaceutical companies or pharmacies and lie about being able to sell vaccines. Social media platforms are also being used to sell fraudulent vaccines or drive people to phishing sites that can steal their money or credentials, sell them a potentially deadly product, or move the scam offline through private messaging.

To help consumers combat the mounting threat of vaccine cyber fraud, BrandShield is advising Brits to follow these seven tips for avoiding scams:

1.  If you see an ad on social media such as Facebook or Instagram selling a vaccine - it's a scam!

2.  If you see a listing on an e-commerce platform such as Amazon, eBay, etc. selling a vaccine - it's a scam!

3.  If you enter an online pharmacy website and see a vaccine for sale - it's a scam!

4.  If you see a website presenting itself as a pharmaceutical company and selling a vaccine - it's a scam!

5.  If you see a social media account or user presenting itself as a pharmaceutical company or representing a pharmaceutical company and selling a vaccine - it's a scam!

6.  If someone offers to sell you a vaccine in exchange for bitcoin or other cryptocurrencies - it's a scam!

7.  If someone offers to sell you a vaccine and communicates the sale through an instant messaging service such as WhatsApp, etc. - it's a scam!

For more information, please visit: https://www.brandshield.com/

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About BrandShield

BrandShield is a leading cybersecurity company founded in Israel by cybersecurity experts that protect the world's largest brands and consumers from phishing attacks, online fraud, and other online threats posed by dangerous cybercriminals. Through its AI/ML platform, BrandShield identifies, tracks, and eliminates online threats for global brands and organizations, including Bristol Myers Squibb, Levi's, NewBalance, Swisscom, and the Pharmaceutical Security Institute. BrandShield is listed on the London Stock Exchange AIM under ticker symbol BRSD. To learn more about BrandShield, please visit the company website at www. BrandShield.com .

For more information, please contact:

E: [e-mail]  

Ross Copping

T: 020 3983 8298

 

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