Another year comes to an end, how quick this year has gone!
With 2016 drawing to an end, I would like to take this opportunity to provide an update to you, both on the year past, and the exciting developments FraudWatch International has coming in 2017.
FraudWatch international continues our growth both in new clients and revenue growth, and we have continued with our strong client retention rate. This growth builds upon the strength of the company, and allows us to put resources into R&D to ensure we are keeping up with the criminals both in proactive and reactive measures to attacks.
2016 has seen a massive increase in Social Media platforms being used in targeted attacks, utilizing both brand impersonation, but also executive impersonation, both of which has the potential to damage reputation of a brand as consumers believe they are dealing with the legitimate brand or individual.
Phishing continues to impact not only financial institutions, but we are seeing an increasing trend of criminals targeting online retail, and travel websites and brands. If you have a login page, and criminals think there might be a chance to make some money from the credentials, you will become a phishing target.
We have also seen a large trend of criminals impersonating well-known brands through massive email and branded website campaigns to distribute ransomware attacks to consumers and SMB. This activity can have tremendous brand damage to a large brand with a large client base, with mainstream media reporting of these attacks. We have assisted a number of clients experiencing these types of campaigns by criminals with resounding success.
2017 will again be a huge year for FraudWatch International as we will be releasing several new products and services to meet the needs of our clients, and enhancing our current portfolio of services. I would like to thank our staff for their hard work in 2016 and the success we all look forward to in 2017.
Please stay safe in this holiday season. I hope you all enjoy the season, have a Happy New Year and best wishes for 2017!
Chief Executive Officer