Probably there are many people who believe that only older people, millionaires and little knowledge in this matter Digital cyber security Will be deceived Social media. The problem is that this person may be the most obvious target a Cybercrime, Because they know how to identify the type of relaxed victim profile that makes their job easier by reducing protection.

Report Federal Trade Commission USAReveals that by 2021, social network users were experiencing approximately $ 770 million in fraud, of which 70% of money loss reports come from online purchases After seeing the ad on social media and they never received their goods.

Featurespace’s team of fraud experts, led by Pigee Rohol, shared an article explaining How fraudsters identify targets on social media and hunt down the victim’s emotional and psychological vulnerability; Also some safeguards that financial entities can acquire:

Be aware, everyone can be a victim of fraud

Every person in this world has a certain Emotional and psychological insecurity. Well, in the last two years, some vulnerabilities have been revealed and swindlers are playing on all of these fears because:

– People care Financial stability.

– People feel Alone and isolated During quarantine, in addition to caring for the health of you and your loved ones.

– People feel that they have Missing opportunities in the social sphere and also, Labor.

What is changing today is this Social networks allow fraudsters to detect people’s fears.

People leave enough Tips on social media Create profiles about yourself and personal activities for interested scammers. Scammers just set traps.

The advantage is fraudsters thanks to social networks

Fraudsters can also improve attacks. Someone who commits love fraud Tinder You can have up to 100 chats in the app. On the other hand, phone scammers limit scammers to just one conversation at a time.

Also, social networks like banks are not strictly regulated. The problem of scale is the same as the problem of will. A recent Facebook scandal has revealed how the platform fails to eradicate hatred. Especially among non-English speaking users. If money launderers pick up “money mules”, what is the real risk of detection?

And here’s the deadly blow: A large and growing research team is showing this Social media negatively affects our mental, emotional and physical health. These networks reinforce the same vulnerability that leaves us vulnerable Phishing.

This is how banks can fight this type of fraud

It is very important to know that the responsibility for fraud and fraud prevention cannot be fully borne by the Bank’s clients.

The customer has Certain responsibilities when it comes to managing your funds and dataBut it is clear that security holes still exist.

Social media companies need to do more to prevent scammers from exploiting their platforms and part of the blame lies with them, unfortunately they have not done enough yet. There are no significant changes in the law, Social media companies can not be trusted in the fight against financial fraud.

Ideally, Individuals, groups and industries have a role to play in preventing fraud; But now it leaves financial institutions with the burden of the consequences of this fraud.

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