Clickbait!

In the past week, I read a report about how social media sites had become avenues for shopping fraud, and my mind went back to two past articles published in this column about something similar. 

On October 26, 2018 and September 26, 2020, I wrote about cyber security threats and how to control your footprints online, respectively. These two articles raised issues about cybercrimes and the defensive/preventive approach that could be adopted to protect oneself. Given the relevance of these articles today, they are worth repeating this week too, particularly because of the focus given to the subject in the referenced report. But before l go into excerpts from the two write-ups, let me first say a few words about the recent article l read on internet fraud, and what the experts are doing or expect to be done to address the issues.

The referenced report mostly tracked online shopping scams affecting UK consumers, and revealed that more than two-thirds of all online shopping fraud started on Facebook and Instagram. 

Lloyds Banking Group, one of the large UK banks, was behind the research. The report estimates that someone in the UK falls victim to a purchase scam originating in one of the two Meta-owned platforms every seven minutes – costing consumers more than £500,000 a week. Both Facebook and Instagram are owned by Meta.

The researchers opined that tech companies had to contribute to refunds when their platforms were used “to defraud innocent victims”. And, according to LIoyds, clothes, trainers, gaming consoles and mobile phones were among the most common goods being falsely advertised.

 Quite interesting, and sounds familiar, doesn’t it? The huge jump in the number of scams originating from social media sites, especially Facebook and Instagram, has got industry worried. In fact, before Lloyds’ report, another UK bank, TSB, had raised similar concerns in other published studies. In the past month also, the UK banking industry body, UK Finance, also accused social media companies of “profiting” from scams taking place on their platforms, and also called for reimbursement to victims.

 The growth in online shopping, no doubt, has been accompanied by a surge in criminals tricking people into paying for goods and services that do not exist. In one commentary, the writer stated that “victims are lured by the promise of cut-price or hard-to-find items, often advertised via social media, and are typically asked to send money directly from their account to another account via bank transfer”.

 Lloyds’ comment on such practice is that, sometimes users “don’t know if the user profile and item are genuine”. In effect, it is up to the tech companies to ensure that all advertised products and services are put out by genuine companies and people.

Okay, the reference here may be a study conducted in the UK, but with the wide adoption and global appeal of both Facebook and Instagram, there is no doubt that there are pockets of such high crimes prevalent in other parts of the world too. In fact, I have a few examples to share.

I have witnessed, over the years, how some scammers have set up dodgy financial services companies on social media sites informing the general public about interesting network marketing schemes that could make them rich.

Of course, to bait more people, the first few that join are given their “money”, whether true or false, and enticed by testimonials, others join. It is after the operators have managed to amass so much from the unsuspecting consumers that they close shop and get off the site. This area of scam is well noted among those promoting currency trading and online credit schemes.

The bold part of this scam world is the way the fraudsters are now able to hack into WhatsApp group pages to advertise their “services”. Interestingly, their messages are always about a happy ending. How bold.

As explained in the October 26, 2018 edition, technology adoption has been good to the global economy, transforming lives and the way services in banking, health, education, agriculture and aviation (just to mention a few examples) are conducted. But, it hasn’t been smooth sailing at all times as the opportunities have brought threats too.

“Significantly, in transforming our lives, technology has also exposed us to a number of other risks too. Today, cyber risks are causing severe disruptions to global peace and security. We are all not safe, again, thanks to technology!”. This is what I wrote in the October 26, 2018 edition of this column.

“Just imagine this. A group of economic hackers have now made it their goal to harvest the credentials of individuals by sending emails to deceive unsuspecting individuals to give out their personal details, including bank account details and password.

Enticing people with prize money and other rewards, such emails normally ‘clone’ email addresses of reputable organisations and individuals, and until a careful scrutiny is done, you will never notice the deceit that lies hidden in such messages”.

To address these issues, you may find some clues in the September 26, 2020 edition of this column. “There are great opportunities with technology but there are hidden risks too. It all comes down to your own habit online. Click safe, to stay safe.”, I wrote.

“If, for example, you receive an email announcing prize money for a ‘lottery’ that you have ‘won’, you can either choose to ignore it or respond to it by following the instructions normally attached, explaining how you can receive/redeem your ‘prize’.

If you choose to respond, and follow through the well-crafted processes issued by the scammer, you end up the loser, simply because the scammer’s primary motive was for you to become his/her prize money, and not the other way round. The email was the bait, and you became the victim in the end- a good prize for the scammer!”.

And, “come to think of it, why would you believe that you have won lottery prize money when you did not partake in it in the first place? It beats my mind sometimes when people fall victim to such obvious pranks because to win a lottery you must first play.

If you did not take part, then don’t expect to have the prize money. Don’t be blindsided to such obvious tricks in the marketplace”. Indeed, it is all about you and your attitude on social media platforms.  

botabil@gmail.com