Facebook, Instagram Blasted for ‘Lame’ Security Practices
Fraud Management & Cybercrime
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Social Media
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Video
Account Takeover Claims Grow 1,000% as Scams Hit People, Banks, Government Agencies
More than 4 billion people have accounts on Facebook and Instagram, making them the most popular social media platforms on the planet. Members share photos, life events and opinions to attract followers, build businesses and stay connected with friends and family. But there’s a darker side to these social platforms.
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Social media account takeover complaints to the Identity Theft Resource Center jumped more than 1,000% last year. Theft, impersonation and fake accounts on Facebook and Instagram – social properties of Meta – are fueling a massive increase in scams and illegal activity. In fact, federal authorities say about 50% of account takeover cases today originate on social media.
“We have all these platforms, but who’s taking care of your security? Who’s taking care of your privacy? I don’t think anybody really is. Frankly, I think the efforts are lame.”
– Chris Ingram, author, former radio personality and Facebook identity theft victim
“These social media scams are bigger parts of underlying scams we’re seeing out there,” says Stephen Dougherty, financial fraud investigator with the U.S. Secret Service. “We are seeing…
