Funding for Brandsec to combat web-based phishing attacks

Brand protection and domain name management company brandsec has received a grant of AUD231,000 from the Australian Government’s Industry Growth Program (IGP).

This grant will support the continued development of Unphish, Brandsec’s online enforcement and takedown software designed to protect Australian businesses from the growing threat of online fraud and brand impersonation.

The Industry Growth Program supports startups and SMEs that are implementing commercialization or growth projects. Through matched grant funding, the program helps recipients such as brandsec scale their operations, transform their businesses and bring breakthrough solutions to market.

Unphish is a tool that automates and streamlines the removal process across multiple platforms, quickly eliminating fake websites, fraudulent social media profiles, and other forms of online brand abuse.

The funding will facilitate the integration of an AI-driven engine, which will improve compliance with platform-specific, industry-specific and country-specific regulations. It will significantly accelerate the removal of malicious digital assets, making Unphish a valuable resource for Australian businesses committed to protecting their digital presence and maintaining their brand integrity.

“Receiving this grant from the Australian Government’s Industry Growth Program is a significant milestone for brandsec,” said Ed Seaford, brandsec’s Enforcement Director. “This funding will allow us to accelerate the development of Unphish and provide Australian businesses with the most robust online enforcement tool available.”

“Cybercriminals are creating around 1.5 million phishing sites every month, with Australian corporate brands, government departments and small and medium-sized businesses being the top targets,” Seaford continued. “The problem is becoming more complex as bad actors move to new platforms to scam consumers. Fake social media profiles now account for 16% of all phishing attacks and we’re seeing new platforms being exploited every day. Australia needs a centralised, expert solution to quickly counter these threats and stay one step ahead – and that’s exactly what Unphish aims to deliver.”

“Unphish has already made great strides, with leading Australian brands supporting its development through a successful beta test. We have also attracted interest from prominent international brands in the US, UK, South East Asia and Europe. While our primary mission is to protect Australian businesses, it is clear that there is an unmet global demand that we want to address going forward.”