Most of the businesses we interact with now need you to create an account, like food ordering, online shopping, maybe even for businesses like yours.
What's the harm in this?
These fake accounts most likely will not trick you into anything or access your products for free. Aside from creating spam in your CRM, what is the problem?
Unfortunately, these fake accounts can result in a large amount of fraud.
Recently the U.S. Secret Service announced that it had recovered $2 billion in fraudulent COVID-19 Relief Funds.
Also, with fake accounts on the rise, there are now software tools that can automate account creation and mask real identities.
In the world of technology, bots exist to buy up limited edition or highly desired items with the intention of reselling the items for a higher price.
The lengths that the bots go to make the fake accounts look like actual humans is unbelievable.
They sign up for mailing lists, send emails, and watch YouTube videos to build up normal email account activity before creating the fake accounts with the desired business.
When the item is released, these bots are all logged in and checking out at the same time making it next to impossible for real consumers to make a purchase.
While this may not directly affect your business in this way, it’s making it very difficult for many people to be recognized as real individuals online. It may be only a matter of time before this is recognized as a form of fraud.
Have you considered how fake account fraud could affect your business?
Perhaps it’s time to take a look at the way accounts for your organization are set up. Give us a call at 716-373-4467 x 15, email info@databranch.com, or click here for more information!