Social Media Scams to Be Aware Of
A social media page or account that copies the layout and design of a brand to make a malicious profit.
An online attack is used to steal login credentials or credit card numbers by impersonating a trustworthy entity. Hackers DM bogus links for users to click on it.
To take advantage of executives’ prestige and their audience online, hackers recreate their profiles and share faux links or fake giveaways.
Fake Social Ads
Harmful ads are personalized to appeal to certain users on social media based on information found on their personal accounts.
Gift Card & Giveaway
Social posts promoting giveaways or lotteries to lure users into clicking on a bogus link to redeem them.
Products and goods that are manufactured are distributed under a fake name without the original distributer’s permission.
Cryptocurrency scam damages
For your business
- Revenue loss
- Reputation loss
- Customer churn
- Legal liability
- Cyber security breaches
For your customers
- Money loss
- Account takeover
- Viral malware spreading
How to avoid social media scams?
Prioritization is Key
It is key because it will save precious time and resources. It is primordial to identify your most essential burning points and focus on taking them down.
Automate constant monitoring of major social media platforms, especially the ones you struggle with the most.
A proactive detection identifies and answers potential threats before they can cause any damage. It is used to detect malicious activity, phishing, impersonations, and other cyber-attacks.
Utilize in-depth analysis to connect with other scams on social media or otherwise. Finds scam networks and removes them at once.
Remove scams and fakes from social media as soon as possible, to prevent the content from being seen or shared by others. This also prevents the forming of scam clusters.
Scan the entire internet, and not just social media, to make sure you detect the highest amount of social media scams like the ones that are found via a linked website or on mobile apps.
Do you know the 6 stages of social media scams?
Hackers put in place 6 different steps to best trick brands and consumers online. And it works, in 2021 more than $700M was lost due to social media scams.
Our partnership with The Sandbox
The Sandbox is a Hong Kong-based metaverse gaming platform, their personal challenge was phishing websites and social media impersonations. After the first two months of the partnership, we were able to neutralize 120 phishing sites and 58 fake social media accounts impersonating the metaverse platform. If you want to read more about our partnership and how BrandShield helped The Sandbox, click here.
We are pushing our efforts for better prevention through education and by partnering with best-in class industry actors to maintain the most enjoyable user experience. With its ability to monitor and protect against these attacks, BrandShield is a strategic partner to help identify faster and take down phishing attacks and various online threats from brand impersonators and bad actors.”
Co-Founder and Chief Operating Officer