The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
As millions of users log into Facebook every day and send requests to join others’ social media networks, there are some friends that will quickly turn out to be enemies. A growing trend among cybercriminals is called farcing — or when strangers send friend requests on social media to steal information for fraud or identity theft. Cybercriminals are exploiting the popularity of social media sites to worm themselves into inner social circles. Once a cybercriminal has managed to gain access to an individual’s network of friends and family, he or she can then become friends with others to pilfer their information, according to study by the University of Buffalo.
With the personal information social media users put out on their profiles and in status updates, identity thieves could collect this data for fraudulent purpose while disguising themselves as legitimate users.
Arun Vishwanath, associate professor of communication at the University of Buffalo, conducted the study that involved making fake Facebook profiles. He found that one in five social media users approved the fake friend requests. One of the reasons why social media users allowed them to be friends was due to their photos or list of contacts as Facebook can show how many mutual friends users have. However, Vishwanath said those who fell for the ruse could be fooled because cybercriminals performing farcing attacks often scope out other victims from available friends’ lists.
The impact of these farcing attacks may become worse as users are increasingly sharing sensitive information — from where they work to where they live — with their friends. Teens may be especially vulnerable to farcing attacks, as they may not protect their information as seriously as other users, according to a study by Pew Research Internet Project. Teens and children are often victims of identity theft because they have clean credit histories, and social media networks could provide another easy avenue for identity thieves to steal their information.
The Pew study showed teens are sharing more information about themselves on their social media networks compared to past years. More than 7 in 10 teens said they listed their school name and 53% said they posted their email address. In addition to posting these private details, 82% said they made their date of birth available, which is one key piece of information that could be exploited by identity thieves.
As oversharing becomes a problem on social media sites, Vishwanath warns users to be careful about who they allow to join their circle of friends.
Protecting the personal information you share online is vital to keeping your identity safe. An identity thief can use your information to open new accounts in your name, which can do massive damage to your credit. Your best line of defense is to monitor your financial accounts regularly. It’s smart to pull your credit reports often (you can get one free annual report from each of the three major credit bureaus). Also, you can check two of your credit scores for free every month on Credit.com. Any large, unexpected change in your credit scores could signal identity theft, and you should pull your credit reports to confirm.
Image: Hemera
October 19, 2023
Identity Theft and Scams
May 17, 2022
Identity Theft and Scams
May 20, 2021
Identity Theft and Scams