Prestigious International Awards Program Recognizes Outstanding Information Security Products and Companies
Austin, Texas, Oct. 6, 2022 – SpyCloud, the leader in account takeover and fraud prevention, today announced that it has been selected as winner of the “Overall Fraud Prevention Solution Provider of the Year” award in the 6th annual CyberSecurity Breakthrough Awards program conducted by CyberSecurity Breakthrough, a leading independent market intelligence organization that recognizes the top companies, technologies and products in the global information security market today. In 2021, SpyCloud was awarded “Overall Threat Detection Solution of the Year” by CyberSecurity Breakthrough.
SpyCloud specializes in defending against the most complex forms of fraud originating from the use of stolen authentication data and PII circulating in darknet communities, including trusted user/device fraud, synthetic identity fraud, and account takeover (ATO) fraud.
This year, SpyCloud introduced a new solution to tackle next-generation ATO from session hijacking using malware-stolen session cookies. Delivering a feed of stolen cookies to organizations lets them invalidate active sessions and lock out bad actors– preventing criminals from bypassing the need for credentials and MFA to exploit users’ stolen browser sessions for ATO fraud.
SpyCloud’s expertise goes well beyond the collection of darknet data; analysis of this data provides deeper levels of context about user risk that are unavailable to fraud and cyber teams elsewhere. SpyCloud uniquely correlates user exposures from data breaches and malware infections across their many online personas to generate risk scores supported by reason codes that help consumer-facing businesses predict and thwart fraud. These easily digestible insights allow them to intervene before criminals cause the consumer harm and affect the business’ bottom line.
“Thank you to CyberSecurity Breakthrough for recognizing our continuing work towards our mission to disrupt the cybercriminal economy and make the internet a safer place for individuals and businesses,” said Ted Ross, CEO and co-founder of SpyCloud.
“This marks our sixth year working with enterprises to protect their business, employees and consumers from ATO and online fraud. We will continue to shine a light into the criminal underground as we work to find innovative ways to use our proprietary cyber analytics engine to protect enterprises and consumers from ever-evolving cyber threats.”– Ted Ross, CEO and co-founder of SpyCloud
The mission of the CyberSecurity Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of information security categories, including Cloud Security, Threat Detection, Risk Management, Fraud Prevention, Mobile Security, Email Security and many more. This year’s program attracted more than 4,100 nominations from over 20 different countries throughout the world.
“In an industry constantly evolving to keep up with innovative technology and advancing cyber threats, fraud is an ever-growing problem,” said James Johnson, managing director, CyberSecurity Breakthrough. “SpyCloud empowers organizations across industries to not just respond to, but actually prevent account takeover and online fraud, arming them with the power of billions of recaptured assets to take an active stance in securing their networks. Congratulations to the SpyCloud team on another well-deserved CyberSecurity Breakthrough Award – this time for ‘Overall Fraud Prevention Solution Provider of the Year.’”
SpyCloud is helping Fortune 1000 companies in verticals such as financial services, e-commerce, government, telecommunications, and more identify and prevent fraud with cutting-edge solutions based on uniquely actionable data.
SpyCloud transforms recaptured data to protect businesses from cyberattacks. Its products leverage a proprietary engine that collects, curates, enriches and analyzes data from the criminal underground, driving action so enterprises can proactively prevent account takeover and ransomware, and protect their business and consumers from online fraud. Its unique data from breaches, malware-infected devices, and other underground sources also powers many popular dark web monitoring and identity theft protection offerings. SpyCloud customers include half of the ten largest global enterprises, mid-size companies, and government agencies around the world. Headquartered in Austin, TX, SpyCloud is home to over 150 cybersecurity experts who aim to make the internet a safer place.
About Cybersecurity Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the CyberSecurity Breakthrough Awards program is devoted to honoring excellence in information security and cybersecurity technology companies, products and people. The CyberSecurity Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough information security companies and products in categories including Cloud Security, Threat Detection, Risk Management, Fraud Prevention, Mobile Security, Web and Email Security, UTM, Firewall and more. For more information visit CyberSecurityBreakthrough.com.