​Social SafeGuard Raises $US11 Million

Social SafeGuard, the provider of software for digital risk protection, announced last week it has raised $US11 million to help expand and market its designed to help businesses stop the spread of fake accounts, fake news, brand impersonation, social phishing, malware, spam and other threats across digital and social channels.

The need for digital risk protection becomes more obvious by the day:

Facebook recently disclosed it shut down 583 million fake accounts and 837 million pieces of spam in three months, while moderating 2.5 million pieces of hate speech, 1.9 million pieces of terrorist propaganda and 21 million pieces of sexual content.

Hackers earlier this year hijacked the Twitter accounts of several high-profile individuals to spread Turkish political propaganda.

The Washington Post and New York Times reported last month about the prevalence of fake accounts and online scams , which can significantly impact consumer confidence and brand reputation.

The FBI’s Internet Crime Report says social media attacks quadrupled over five years .

Additional sources show 43 percent of people accept friend requests from people they don’t know; 66 percent of online spear phishing attacks are opened by their intended targets; and the typical company encounters 61 fraudulent brand impersonations that damage their digital presence.

Officials in the U.S., Europe and Asia are adopting new regulations for digital privacy and data management, including large potential fines for companies that don’t rigorously manage their online interactions.

“Digital and social channels are the new battleground in cybersecurity, and businesses need to build up their defenses,” said Jim Zuffoletti, founder and CEO of Social SafeGuard.

“This is quickly becoming a priority for security leaders, risk managers and digital marketers at every company.”

Social SafeGuard was founded in 2014 and provides cloud-based software to manage the full life cycle of digital risk protection, so enterprises can detect, analyse and prevent attacks in real time – while automating governance and compliance.