Content abuse—including scams, spam, misinformation and phishing—has become one of the most prevalent forms of online fraud, enabling bad actors to gather information that can be used against merchants and consumers in a wide variety of ways.
According to the Q2 2022 Digital Trust & Safety Index from Sift, content abuse is on the rise, up nearly 30 percent in Q1 2022 compared to a year earlier. Fake content, including text scams, fake ads, phony job opportunities and more, is flooding the devices of consumers, who are yielding a growing amount of personal and payment information that provides fuel for a myriad of fraud attacks.
In addition to the attacks bad actors are perpetrating with the stolen information, fake or misleading content leveraging familiar brands is a major problem for businesses. More than two-thirds of consumers said they would stop using a merchant’s site or app completely if they encountered fake content using that brand.
“Businesses can’t keep turning a blind eye to content abuse,” said Jane Lee, trust and safety architect at Sift. “Catching scams on one platform could prevent downstream disasters involving account takeover and financial theft on countless other sites.”