In an era where online business trust is more vital than ever before, cybercriminals are frequently creating fake customer support accounts to steal user credentials, typically as the first step in an attack to harvest bank accounts.
Social media scams can be disastrous from a public relations perspective – if customers do not trust the security of your online services, they will quickly reconsider doing business with you.
Businesses have a responsibility to tackle social media scams head-on by taking a proactive approach to scanning and detection of threats, even though they don’t own the social media platforms.
Fraudulent Support Accounts on the Rise
Proofpoint’s recently released Q4 Threat Report states that fraudulent customer support accounts on social media have increased by 30 percent in the last quarter. The report also shows that phishing links targeting businesses are on the rise, with a 70 per quarterly increase in social media attacks.
Using fake social media accounts to mine personal and account details is known as ‘angler phishing’. Cybercriminals create profiles that mimic the look of true support accounts by stealing logos and using a name that appears legitimate.
Angler phishers respond to queries directed toward a company’s actual social media page, impersonating employees and diverting users to phishing sites where they are encouraged to log-in. If users do log-in, their personal and account information can be compromised and those details can be used to fool their social contacts to fleece them of money or as part of a broader attack that can be executed on a whole range of sites.
Maintain Business Trust with a Complete Social Media Security Solution
We know that cybercriminals are constantly evolving their tactics and will continue to prey on human nature. Business owners may be unwilling to spend big on tackling angler phishing, but the reputation of your enterprise is next to priceless. Comprehensive and ongoing methods need to be adopted to mitigate the social media threat.
All your social platforms need to be consistently scanned to discover any fraudulent activity, and businesses should enact an action plan to shut down perpetrators. Takedown services can work quickly to close infringing accounts and protect business reputation.
Computer One provide IT management consulting, and can advise on best practice for mitigating social media and other online threats.