Country for PR: United States
Contributor: PR Newswire New York
Tuesday, November 24 2020 - 22:00
SHIELD Announces DeviceSHIELD to Protect Small Businesses from Cyber Fraud During the COVID-19 Pandemic
MENLO PARK, Calif., Nov. 24, 2020 /PRNewswire-AsiaNet/ --

-- 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 

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 -

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.


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 


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1 Hiscox, "Hiscox Cyber Readiness Report 2019."( 
2 CNBC, "Cyberattacks now cost companies $200,000 on average, putting many out 
of business."(