EXCLUSIVE
A UK firm is to help lead the global fight against online scams after joining forces with internet giants Google to create a “game-changing” data exchange to allow the biggest companies in the world to collaborate against the crooks.
Oxford-based DNS Research Federation (DNSRF) have worked alongside Dutch counterparts the Global Anti-Scam Alliance (GASA) to devise a “giant online neighbourhood watch” that will enable the world’s biggest companies to tackle the tsunami of online scams, fraud and abuse that claims thousands of victims every day.
And chiefs at Google have been so impressed by the Global Signal Exchange data platform they have become founding member who will be sharing scams the instant they start appearing on their own platform enabling firms to take immediate action to prevent the scams spreading.
The ‘real-time’ reporting will also give a massive boost to law enforcers around the world who have been historically hamstrung by only learning of the offences after people have fallen victim and any links to the scam have vanished.
Online scams have a devastating impact on people’s lives and cause real-world economic damage with the current annual cost of global cybercrime topping £6.5b trillion – more than the GDP of the UK and Germany combined.
Scammers particularly rely on tricking victims using scams involving trusted brands to gain their confidence with UK consumers amongst the worst affected. Recent research by DNS Research Federation found that the average person now receives around 240 scam emails or texts a year, with one in eight receiving double this.
But they say the problem is now too huge for individual companies to tackle alone and believe the involvement of such a significant partner as Google should encourage other companies across the globe to join the exchange to help share their vital information.
Emily Taylor, CEO at the DNS Research Federation said: “The unique thing about this is that it is global in nature. It has to be because cybercrime is global and law enforcement agencies have not been able to keep up.
“But this international, multi-sector response, signifies a step-change in the fight against online scams and facilities a new culture of co-operation and collaboration. Our own research has revealed that the average amount of money British adults lose to online scams has hit a national average of £1,169 per person, with 7% claiming to have lost more than £7,500 to scammers.
Furthermore, our tracking data reveals that major brands from all industry sectors are having their brands infringed by the scammers, who rely on using familiar names to attract their victims.
“Companies are rightly concerned about sharing data but the only solution is for everyone to work together. Scammers work together, they share and they move quickly. The days are long-gone when individual brands can tackle online crime alone – and The Global Signal Exchange marks a new chapter in the fight-back against online crime and we feel incredibly proud as a UK firm that Google has chosen us – their support will be a game-changer for our work.”