PR86834

MENLO PARK, Calif., Nov. 24, 2020 /PRNewswire=KYODO JBN/ --

-- DeviceSHIELD will provide free risk intelligence to 90% of online businesses

to help combat fraud and prevent the average financial losses of $200,000 from

cyberattacks(1)

SHIELD, the world's leading cybersecurity company specializing in cyber fraud

and identity verification, today launched DeviceSHIELD, a cyber fraud solution

specifically designed to combat the increase in fraud attacks to online

businesses during the COVID-19 pandemic. It provides actionable intelligence in

real time to identify fake devices and protect businesses from bad actors,

reputational damage, and fraudulent transactions.

Logo - https://mma.prnewswire.com/media/1341295/SHIELD_tagline_Logo.jpg

During the COVID-19 pandemic, cyber fraud has become the fastest-growing form

of criminal activity, putting both businesses and consumers at heightened risk.

Today, consumers are conducting more digital transactions and using an

increasing number of online applications. SHIELD has identified several key

industries in which cyber fraud has risen as a result of the COVID-19 pandemic,

namely on-demand services like food delivery and ride-hailing, e-commerce and

marketplace platforms, online gaming, e-wallets, loyalty and cashback

offerings, online banking, and entertainment.

Over the past year, the tools that hackers are using have also become much more

sophisticated. Fraudsters are now using emulators, app cloners, virtual private

networks (VPNs), and global positioning system (GPS) spoofers from mobile

devices to commit fraud.

"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.(2) 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."

SHIELD is committed to fighting the economic impact of the COVID-19 pandemic.

The number of fraudsters disguising their devices' online identities has grown

at an unexpected rate during the pandemic, leaving small and medium-sized

businesses especially vulnerable. Conventional cyber fraud solutions tend to

only analyze surface-level attributes and are especially ineffective with

mobile devices, failing to root out the most subtle and stealthy threats.

DeviceSHIELD is currently the only technology that uses a device's DNA to

identify malicious users, enabling it to detect fraud with unparalleled

accuracy and consistency. Deployed in minutes, DeviceSHIELD analyzes thousands

of device attributes to identify a device no matter how many times it changes

its appearance, and indicates exactly which malicious tools are being used. It

has a unique feature known as SHIELD Sentinel, which enables it to continuously

profile risk throughout a user session - another industry first. It also

leverages SHIELD's network of over seven billion devices and 500 million users

across six continents, known as the Global Intelligence Network, enabling it to

proactively protect a device from new and unknown types of fraud.

SHIELD investors include GGV Capital, Tony Fadell's Future Shape, Temasek,

Wavemaker Partners, and Tao Zhang. SHIELD's solutions are currently used by

global companies like Razer, Alibaba, Scalefast, Yamibuy, PayMaya and Sea Group

to combat cyber fraud.

About SHIELD

SHIELD is the world's leading cybersecurity company specializing in cyber fraud

and identity solutions. SHIELD's solutions range from fraud prevention and

network security to credit intelligence and identity verification. With offices

across the globe, SHIELD is trusted by leading superapps, e-commerce platforms,

and ride-hailing services around the world. Through pattern recognition and

continuous risk profiling, SHIELD provides actionable device intelligence and

real-time signals that enable companies to scale without risk.

For more information, visit https://www.shield.com/solutions/deviceshield

Contact:

Press Inquiries

Simone Jackenthal

Trident DMG

+ 1 (202) 923-5296

sjackenthal@tridentdmg.com

1 Hiscox, "Hiscox Cyber Readiness Report 2019."(https://c212.net/c/link/?t=0&l=en&o=2991681-1&h=2592886319&u=https%3A%2F%2Fwww.hiscox.com%2Fdocuments%2F2019-Hiscox-Cyber-Readiness-Report.pdf&a=%22Hiscox+Cyber+Readiness+Report+2019.%22 )

2 CNBC, "Cyberattacks now cost companies $200,000 on average, putting many out

of business."(https://c212.net/c/link/?t=0&l=en&o=2991681-1&h=700041435&u=https%3A%2F%2Fwww.cnbc.com%2F2019%2F10%2F13%2Fcyberattacks-cost-small-companies-200k-putting-many-out-of-business.html&a=%22Cyberattacks+now+cost+companies+%24200%2C000+on+average%2C+putting+many+out+of+business.%22 )

Source: SHIELD