Fraudsters Hit LinkedIn With Recruitment Scam Wave Amid Layoffs: Report
Professional networking major LinkedIn has been hit by several state-of-the-art recruitment scams after massive tech layoffs, and fraudsters are cheating those sacked by offering them jobs that do not exist.
According to the Financial Times, phony recruitments are being run by scammers pretending to be employers on Microsoft-owned LinkedIn.
"There's certainly an increase in the sophistication of the attacks and the cleverness," Oscar Rodriguez, LinkedIn's vice president of product management, was quoted as saying in the report.
The platform has sought to block tens of millions of fake accounts in recent months, as regulators warn of a spike in job-related frauds.
Cyber security company Zscaler recently described a scam that targeted job aspirants, where fraudsters approached people through LinkedIn's direct messaging feature InMail.
"They also created Skype profiles with the picture of the real recruiter from the companies to conduct interviews as well," Deepen Desai, vice-president of security research at Zscaler, was quoted as saying.
The fraudsters are now using artificial intelligence (AI) to create profile photos that can fool human eyes very easily.
The US Federal Trade Commission (FTC) recently said there were more than 92,000 job-related and business scams in 2022, with $367.4 million reported stolen.
"We see websites being set up, we see phone numbers with a seemingly professional operator picking up the phone and answering on the company's behalf. We see a move to more sophisticated deception," Rodriguez was quoted as saying.
Thousands of tech employees have lost their jobs at Big Tech and other companies in the global macroeconomic conditions.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Rising Rates, Rising Challenges: Bankers Adapt To Serve Troubled Companies In A Changing Economic Landscape
As interest rates climb, troubled companies are facing heightened financial pressures, prompting them to seek assistance... Read more
The Elusive Nature Of Fraud Detection: Exploring The Auditor's Dilemma
In the intricate world of financial reporting, auditors serve as guardians of integrity, tasked with uncovering discrepa... Read more
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more