According to FBI special agent Sean Ragan, LinkedIn scammers attempting to convince people to invest in cryptocurrency seriously threaten user security.
Ragan stated in a CNBC interview that he believes LinkedIn has an issue with investment fraud. This type of deception, according to Ragan, is serious. There are many potential victims, as well as many past and present victims.
The Microsoft-owned social network claims 830 million users from over 200 countries.
These con artists aren’t lazy, so they could be very convincing.
Ragan told the network that they are constantly thinking of new ways to victimize people and businesses. And they use their free time to do their homework and plan their goals, strategies, tools, and methods.
According to Regan, the FBI has observed an increase in investment-related fraud. A report published by the Federal Trade Commission revealed that investment fraud cost American bitcoin traders $575 million between January 2021 and March 2022.
In light of widespread romance and online fraud, LinkedIn strongly emphasizes business news and connections, which could give users a false sense of security. According to the CNBC research, bogus accounts frequently advertise themselves as being affiliated with respectable and thriving businesses or entrepreneurial-spirited individuals.
Oscar Rodriguez, LinkedIn’s director of trust, privacy, and equity, stated that more scammers are using the site.
In a blog post, Rodriguez stated that over the past few months, there had been an increase in fraudulent behavior across the internet, including on LinkedIn.
The platform claimed it has a history of eliminating suspicious information and accounts it believes may be used for fraud. According to a recent company transparency report, LinkedIn removed over 136 million spam and fraudulent content instances from its network in 2021. Additionally, almost 31.6 million bogus accounts were deleted last year.
Unlike Twitter and Instagram, LinkedIn does not offer profile verification for prominent members. But even verification has limitations: Twitter has witnessed verified accounts being utilized by NFT and cryptocurrency scammers.
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