Cyber-security researchers flagged domains and botnets on Tuesday that reportedly have links to the private shopping data of close to ten crore Indians and are affecting brands such as Amazon India, ICICI Bank, Policy Bazaar, and Bajaj Finserv via a huge advertisement scam.
Com, cyber protection and digital AD vulnerability intelligence platform located in Gurugram Olho asserted that government institutions such as the State Bank of India, ITR Forms & Verifications, Indian Railways, Bank of Maharashtra, and GST, among others, are often targeted in order to steer traffic to “websites that operate Google or other forms of advertising on their platforms, rather than redirecting them to valid content.”
The domains mailindiaa.com and connectinboxx.com have been described as platforms that use anonymous proxies to conceal their digital identities.
“These networks distribute advertisement to Indian customer through email service and automation. Additionally, the masking tactic means the risk of tax evasion on the part of the real owners of the website.” The business said in a statement.
The corporations and Indian agencies claimed to be impacted have not yet responded to the investigation.
“Regulation of digital assets is essential, and they should be treated as compulsive business assets. The ad fraud epidemic is similar to another pandemic that has been wreaking havoc on our nation’s digital security for years “Founder and Chief Technology Officer of Com Olho, Abhinav Bangia.
The company stated that it has been monitoring behavior on these domains over the last three months and has accumulated over 6,000 incidents.
“These domains are untraceable, do not have a legal website, and do not have resident teams in India or elsewhere,” the study concluded.
Advertising fraud is a major epidemic, resulting in annual global losses of up to $40 billion.
According to Com Olho, the Indian industry could face losses of up to Rs 3,000 crore in 2020 as a result of advertisement fraud.
Though we have the technological ability to support for containing this danger, the government still has the potential to make use this to innovate by finding and enforcing measures to regulate digital ads, says Bangia.
Com Olho was established in 2019 and is India’s first business to be awarded a patent for detecting advertisement fraud. It is a SaaS (Software as a Service) network designed for marketers, banks, insurance agencies, and every other organization that invests heavily in digital advertising in order to stem the growing wave of digital fraud and misinformation.