Deloitte Joins Forces With Memcyco to Crack Down on Growing Digital Impersonation Fraud

Multinational leading professional services company Deloitte, has formed strategic partnership with Tel Aviv-based startup that provides businesses with tools to guard against website impersonation, Memyco, to crack down on growing digital impersonation fraud.

Deloitte and Memcyco’s collaboration combines the former’s consulting expertise with the latter’s cutting-edge platform for detecting and preventing digital impersonation fraud in real time. 

Memcyco and Deloitte will leverage additional solutions related to integration and cooperation, such as Deloitte’s Strategic & Reputation Risk Services, thus offering a more comprehensive service to clients. 

Speaking on the partnership, CEO at Memcyco Israel Mazin said,

“Memcyco is delighted to build a partnership with Deloitte due to its dedicated team, expertise and innovation capabilities. Our shared commitment to empowering organisations to make informed decisions about their cybersecurity strategy is at the heart of our collaboration. In the long term, this partnership will pave the way for organisations of all sizes to mitigate impersonation and brandjacking attacks, and to gain more trust from their customers.” 

Memcyco is a provider of cutting-edge digital trust technologies to empower brands in combating online brand impersonation fraud, and preventing fraud damages to businesses and their clients.

The startup solution allows brands to foster digital trust in end-users on every website visit, and arms organizations with unprecedented real-time visibility into brand fraud attack attempts, scope and impact.

Research reveals that there is a significant surge in digital identity fraud, which is a major problem for financial services. Digital fraud is a problem businesses have been facing since the advent of e-commerce in the 1990s, and its threat only increases with each passing year. 

The U.S. Federal Bureau of Investigation (FBI) in 2023, estimated that impersonation attacks have caused global losses of over $5.3 billion

In a bid to combat the growing rate of digital fraud, Deloitte and Memcyco alliance looks set to take fraud prevention to a new level, to prevent and better position government organizations, enterprises, and brands from damage, while preventing their reputations from being tarnished through attacks that affects their customers.