Special agent stated that fraudulent activity was significant on the social network, which is business-focused. FBI special agent Sean Ragan stated Friday that cryptocurrency investors using LinkedIn pose a significant threat to user safety.
Ragan stated that he believes LinkedIn is prone to investing scams in an interview.
Ragan stated that “this type of fraud is significant.” Ragan stated that there are many victims and many victims in the past and present.
Microsoft’s social network boasts 830 million users in over 200 countries.
These con artists aren’t stupid, so they may seem convincing.
Ragan stated to the network that they are constantly thinking of new ways to victimize people and victimize businesses. They spend their time researching, defining their goals, their strategies, and the tools and tactics they use.
According to Regan, the FBI has witnessed an increase in investment-related fraud. According to the Federal Trade Commission, U.S. cryptocurrency traders lost $575 Million due to investment fraud between January 2021 and March 2022.
LinkedIn emphasizes business news, relationships, and this can create a false sense security against the background of online romance and scams. According to the CNBC report, fake profiles claim to represent successful and legitimate companies or people with an entrepreneurial spirit.
Oscar Rodriguez, LinkedIn’s director for trust, privacy and equity, acknowledged that there are more scammers on the platform.
Rodriguez stated in a post Thursday that “Over the past few months, there’s been a rise fraud activity happening across Internet including here on LinkedIn.”
According to the company, it has a history of proactive removal of suspicious content and accounts that it suspects could lead to fraud. According to a company transparency report, LinkedIn has removed more than 136 million spam and scam content from its platform by 2021. Last year, it also removed 31.6 million fake accounts.
Rodriguez stated to CNBC that he would like to see more ” proactive Education” about the risks associated with LinkedIn.
LinkedIn doesn’t offer profile verification for prominent users at the moment, but Instagram and Twitter do. However, verification is not foolproof. Twitter has seen verified accounts being abused by NFT scammers.