Scams accounted for almost 60% of user-generated scams
SAN FRANCISCO, June 29, 2021 (GLOBE NEWSWIRE) – Sift, the leader in digital trust and security, today released its Q2 2021 Digital Trust & Safety Index report, which found scams accounted for 59% of user-generated malicious content blocked within Sift’s network during the first quarter of the year. The report examines how militarized content moves the Fraud economics forward, as well as consumer perception of content fraud based on a survey of over 1,200 US consumers.1
Content scams on the rise
Scams – defined as any content created and used to perpetrate fraud, such as listings of products that never ship – are the backbone of the fraud economy. This global, interconnected network of online abuse is driven by scamming consumers, and fraudulent content is the preferred vehicle for spreading false information, committing financial fraud and carrying out phishing attacks.
The other most common types of blocked content fraud include irrelevant (22%, unrelated to the topic at hand), toxic (18%, includes bad language, harassment, hate speech or bullying), and commercial (1%, solicitations against conditions of a service).
Consumers: cautious and ruthless about content fraud
Declining transaction volumes, new digital shopping methods and services, and increasing attack volumes in many markets throughout the pandemic have contributed to a 77% increase in blocked content fraud in the world. first quarter of 2020 compared to the same period in 2019.
However, with an additional 18% increase in the first quarter, indicating that fraudsters remain determined to leverage user-generated content to trick consumers and steal businesses. And as these attacks proliferate, consumers are increasingly wary and ruthless about content fraud, as the Sift study found.
The main findings of the survey also include:
- Content fraud encounters abound: About 27% of consumers surveyed say they come across fraudulent content on a daily or weekly basis. According to respondents, the most common types of fraudulent content encountered are spam (51%) and scams (50%), disinformation and âfake newsâ completing the top three (43%).
- Misinformation about the COVID-19 vaccine is widely reported: Half (50%) of consumers surveyed say they have faced scams or misinformation related to COVID-19. Among this group, 61% say that the scams encountered involved misinformation about the effectiveness or side effects of COVID-19 vaccines; 61% say it was misinformation about vaccines containing tracking technology; and 28% found fraudulent vaccination cards or passports.
- Fraudulent content has a direct impact on consumer loyalty: More than half of consumers surveyed say they would stop shopping at a business if malicious content was discovered on the brand’s website. Specifically, 56% say they would stop using the site or service if false or misleading content was discovered, while 54% say they would stop using it if they were scammed for share personal information.
- The most spammy and rogue sites on the web: Respondents also identified the places online where they encounter the most content fraud. These include social networking sites (61%); classifieds (28%); dating sites (24%); markets (21%); and crowdfunding sites (15%).
Defending against the fraud economy at large
“User-generated content is a key engagement driver for online businesses, and many, like community and marketplace sites, depend on user-to-user interaction,” said Marc Olesen, president and CEO of Sift. “Yet, with scams accounting for more than half of the user-generated malicious content detected on Sift’s network, consumers are wary of these types of attacks and they clearly demand that companies proactively protect them against the frauds being perpetrated. by illegitimate users. By adopting a strategy of digital trust and security – a strategy that prevents fraud while accelerating growth – brands can put an end to all types of fraud and abuse while ensuring a safe and transparent user experience for their customers. .
Sift’s Q2 2021 Digital Confidence and Security Index can be found here.
Sift is the leader in digital trust and security, enabling digital disruptors in Fortune 500 companies to unlock new revenue without risk. Sift dynamically prevents fraud and abuse with cutting-edge technology and expertise, an unrivaled global data network of 70 billion events per month, and a commitment to long-term customer partnerships. Global brands such as Airbnb, Doordash and Wayfair rely on Sift to gain a competitive advantage in their markets. Visit us on sift.com and follow us on Twitter @GetSift.
Director of Corporate Communications, Sift
1 On behalf of Sift, Researchscape International surveyed 1,265 adults (aged 18 and over) in the United States via an online survey in May 2021.
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