A study conducted by Palo Alto Networks reveals that cyber-criminals mimic the domain names of notable global brands to scam customers. The study showed cybercriminals are mimicking search engines, social media, financial, shopping, and banking websites of mainstream brands for malicious purposes. Phishing attacks and scams on their consumers to steal their credentials or financial information is their primary purpose.
Using cyber-squatting, these criminals impersonate brands to trick users into believing they are using the existing brands’ websites.
Industry giants such as Paypal, Apple, Netflix, and Amazon are among the most abused domains by cybercriminals.