FIRMS set for a merger or name change have been warned to watch out for “cyber squatters” – or face paying thousands of pounds to get the website name they really want.
Huddersfield IT expert Malcolm Pow issued the warning after opportunists cashed in on the Lloyds TSB takeover of Halifax Bank of Scotland to register a host of website domain names.
Mr Pow, of computer support company Ulysses IT, said: “Many of the potential website domain names for the new company – such as LloydsHalifax.co.uk – were bought by speculators minutes after the deal was announced.
“While it’s illegal for anyone to try and pass themselves off as the new bank, it’s a slow process for the bank to take them to court and get the domain name. What is more likely is they will just pay a few thousand pounds to buy the domain name simply and quickly.”
Holmfirth-based Mr Pow said: “The people who buy these domains in the hope a company will pay for them are known as cyber squatters. And any business announcing a new name or a merger should buy the new domain name before the deal is announced.”
Both LloydsHalifax.co.uk and LloydsHalifax.com are shown to be registered to a private individual in Scotland.
Mr Pow said that although a new name for the merged bank had not been announced, the person registering the domain names had assumed its most famous brand names – Lloyds and Halifax – would feature.
Ulysses IT specialises in computer support for businesses in Huddersfield, including home support for remote workers. The business was formed in 1998 and operates as an “out-sourced” IT department for clients.
