Social media is a place that has something for everyone. When we say everyone, we also mean impersonators, hackers and people involved in illicit activities. 12% of EU internet users have faced online fraud, and one in ten persons is a victim of identity theft.
The number of financial frauds and scams that customers face at the hands of counterfeit businesses and imposters impersonating big brands’ names to make money is staggering high.
Understand how to deal with identity theft on social media.
Social Media Identity Theft
Impersonators use brand or business names by using their name for material gains. Social media identity theft is the illegal impersonation of a brand on social media to sell its products to customers or for other illicit activities. The victim can vary from individual, entire customer base to business entities. Anyone can fall victim to identity theft on social media.
Nature of Social Media Identity Theft
- Fake accounts: criminals create fake social media accounts such as Twitter, Facebook, and Instagram to impersonate a business or corporation. They can use existing photos, cheap counterfeit products, and start running a business using the original brand’s name.
- Online quizzes: a harmless quiz that reveals which sitcom character’s personality you possess can lead to an attempt to steal an identity.
- Fake ads: social media bombards users with fake ads that are run by cybercriminals for material gain and financial fraud.
How to Handle Social Media Identity Theft?
There’s no foolproof way to prevent social media identity theft. Yet, you need to be proactive to stop impersonators from using your brand’s name to mislead customers. Instead of addressing an identity theft crisis after its occurrence, communicate to your customers about your social media accounts and what to watch out for. For example, include all the links and add a disclaimer to alert customers from imposters and scammers.
Second, monitor the social media platform for any impersonator or imposter using your brand’s name. Make sure your branding strategy is consistent across each channel. Keep your trademark and brand logo registered to protect copyright infringement.
Third, hire identity theft protection services for proactive strategies. Identity theft protection services protect your brand’s name from imposters and scammers. At Onsist, we have a team of experts who devise strategies to protect your brand’s name from scammers and frauds. Contact Onsist to start your online brand protection service today.