KAPE, DARK: Amid rising cyber scams, is it wise to choose these stocks?

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KAPE, DARK: Amid rising cyber scams, is it wise to choose these stocks?

 KAPE, DARK: Amid rising cyber scams, is it wise to choose these stocks?
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Highlights

  • According to the National Cyber Security Centre (NCSC), approximately 7 million online scams were taken down in 2021.
  • Reports from the public supplemented the Active Cyber Defence (ACD) programme of the cybersecurity agency, talking about the dubious websites, texts, and emails.
  • Over 1,400 phishing plots related to the NHS were effectively controlled in 2021, and this figure is over 10 times greater than the 2020 figures. 

Amid rising cybersecurity threats, the UK cybersecurity agency was able to effectively take down a record number of online scams. According to the new figures revealed by the National Cyber Security Centre (NCSC), approximately 2.7 million online scams were taken down in 2021. This figure is four times greater as compared to the 2020 figures.

Around 2.7 million online scams were taken down in 2021 as per NCSC.

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The increasing control on online scams wasn’t only due to the rise in harmful content targeting the public, but due to the cybersecurity agency growing its services to deal with a wider variety of scams, such as fake celebrity and brand endorsements.

Reports from the public supplemented the Active Cyber Defence (ACD) programme of the cybersecurity agency, talking about the dubious websites, texts, and emails. According to these public reports, the most popular scams of all were extortion emails and fake endorsements.

Vaccine passport and other pandemic-related matters were chosen by the defrauders to lure the public into traps. According to the NCSC, over 1,400 phishing plots related to the NHS were effectively controlled in 2021, and this figure is over 10 times greater than the previous year’s figures. The scammers have been capitalising on the pandemic concerns among the public.

Cybersecurity issues are a major concern in the UK, as well as globally. Increasing cyber resilience is thus an important task lined up for the UK.

Let’s look at 2 UK cybersecurity stocks that investors can keep an eye on amid rising online threats.

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Kape Technologies plc (LON: KAPE)

UK-based software firm Kape Technologies plc provides cybersecurity solutions to consumers across the globe, focusing on their digital protection and privacy. Kape Technologies plc’s shares were up by 2.21% at around 8:30 AM (GMT+1) on 10 May 2022, at GBX 347.50. The FTSE AIM 100 index constituent has provided its shareholders with a return of 14.48% over the last one year as of 10 May 2022. The current market cap of the company stands at £1,206.80m.

Darktrace plc (LON: DARK)

UK-based information technology firm, Darktrace plc, is a leading AI provider focusing on cyber defence. Darktrace plc’s shares were up by 3.03% at around 8:30 AM (GMT+1) on 10 May 2022, at GBX 424.70. The FTSE 250 index constituent has provided its shareholders with a return of 25.51% over the last one year as of 10 May 2022. The current market cap of the company stands at £2,883.11 million.

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