Google has joined forces Oxford-based DNS Research Federation and the Dutch-based Global Anti-Scam Alliance (GASA) to create a new data platform to monitor online fraud.
The Global Signal Exchange will be powered by the Federation’s DAP.live platform, with Google contributing its abuse data.
Cybercrime costs the UK economy $8.6 billion yearly with 11% of adults admitting they had had money stolen through an online scam. Because many of the criminals are based abroad, convictions are hard to obtain.
The new alliance aims to highlight where online scams originate and stop malicious activities faster, “making them less effective and so less profitable".
Emily Taylor, DNS Research Federation’s chief executive, said: “Our own research has revealed that the amount of money British adults lose to online scams has hit a national average of £1,169 per person, with 7% claiming to have lost more than £7,500 to scammers.
“The solution requires everyone to work together. Scammers work together, they share and they move quickly.
“The days are long gone when individual brands can tackle online crime alone – and The Global Signal Exchange marks a new chapter in the fight-back against online crime and Google’s support will be a game-changer for our work.”