Social Media Scams: The Rise of DIY Fraudsters and Retail Mayhem
Retail fraud is going mainstream, with nearly half of consumers targeted by ads for fraud guides. Netacea’s report reveals the rise of “influencers” promoting refund hacks, normalizing scams and turning average folks into digital accomplices. With fraud now a group activity, are consumers the new fraudsters?
Hot Take:
Looks like fraudsters are now sliding into our DMs, but instead of romantic proposals, they’re offering “get-rich-quick” schemes! Who knew retail fraud would become as common as cat videos on social media? It’s like Bonnie and Clyde 2.0, but with influencers and hashtags. Forget about money trees, just check your feed for the latest fraud hack trending in your neighborhood! #CrimeGoals
Key Points:
– A whopping 45% of consumers in the UK and US have been targeted by social media ads promoting retail fraud.
– Ads that once lurked in the dark corners of the web have now migrated to mainstream social media platforms.
– Nearly 16% of consumers view retail fraud as a victimless crime, with 58% believing retailers should absorb the cost.
– Social media influencers, along with friends and family, are contributing to the normalization of retail fraud.
– Insider fraud is on the rise, with 18% of respondents knowing someone involved in such activities.