LinkedIn is the leading professional networking site that connects professionals from all over the world. Unfortunately, in the wake of massive tech layoffs, LinkedIn has been targeted by a wave of advanced recruitment scams. Scammers are capitalizing on the distress of jobless individuals by impersonating real recruiters and presenting fake employment offers.
LinkedIn has gained immense popularity among recruiters and employees, making it the key platform for those seeking to advance their careers. One of the standout features of LinkedIn is its recruiter service, which is designed to help employers and recruiters find the best candidates for their job openings. In addition, this service comes with a premium subscription plan called Recruiter Lite, which starts at $170 per user per month. This premium feature has proven to be highly effective for recruiters and employers looking to expand their talent pool.
However, as LinkedIn continues to grow in popularity, it has also become a target for scammers. Scammers are attracted to LinkedIn because of its reputation as a trusted professional networking site, and they often use it to trick unsuspecting users. These scammers use various tactics, such as creating fake profiles, sending phishing messages, or offering job opportunities that are too good to be true.
In the recent tech layoffs, scammers have been quick to pounce on unsuspecting users, presenting them with fraudulent job opportunities. And what better platform to target job-seekers than LinkedIn?
As people scramble to find new employment, these scammers are taking advantage of the vulnerable situation, using sophisticated tactics to appear legitimate and gain job-seekers’ trust.
With the immense popularity of a platform like LinkedIn comes the unfortunate reality of scammers misusing its name for their nefarious deeds.
One such example is OpenAI’s ChatGPT. Scammers are taking advantage of the recent success of this AI-based chatbot, using its name to deceive unsuspecting internet users. Cybersecurity researchers have recently discovered hundreds of fake ChatGPT websites that spread malware and steal the sensitive information of Internet users. These sites aim to lure visitors into downloading ChatGPT as a local application for Windows, eventually injecting the RedLine malware into the system. Scammers are also infiltrating the Google Play Store with over 50 fraudulent ChatGPT apps, using phishing campaigns to steal sensitive user data.
Scammers are defrauding unsuspecting users on LinkedIn
According to a report by the Financial Times, individuals searching for job opportunities on LinkedIn fall victim to fraudulent recruitment activities run by scammers who pose as potential employers. The scams result in job seekers losing their money. The Financial Times has highlighted the increased sophistication of these fraudulent activities, with scammers setting up websites, using seemingly professional phone operators, and engaging in more elaborate forms of deception.
Oscar Rodriguez, LinkedIn’s Vice President of Product Management, acknowledged this trend, stating that scammers are becoming more clever and sophisticated. The Federal Trade Commission (FTC) reported over 92,000 scams related to job offers and businesses in 2022. These scams targeted unsuspecting individuals by promising job opportunities or other business ventures but resulted in financial losses. The total reported amount stolen was $367.4 million.
As previously reported, scammers use increasingly complex and convincing tactics to commit fraud. For example, in March of 2022, Google warned about a financially motivated threat actor named Exotic Lily. Exotic Lily used clever and convincing tactics for months to trick companies with fake business deals.
According to cybersecurity firm Egress, phishing attacks impersonating LinkedIn have seen a 232% increase, with scammers using fake websites to deceive consumers into providing sensitive information or money.
Last year, PYMNTS reported that retailers warned of phone order confirmations and phoney text messages. These scams not only target consumers but also harm businesses, as negative experiences can impact customer retention and trust.
According to PYMNTS, even though scams primarily target consumers and utilize the name of a retailer or brand for cover, they still impact businesses. PYMNTS and DataVisor study also highlights that 56% of buyers have reported sharing negative experiences with colleagues and co-workers, potentially resulting in loss of revenue and clients in the future. In addition, negative online experiences can ripple effects on customer retention, trust, and usage of digital commerce.
According to Deepen Desai, vice-president of security research at Zscaler, scammers increasingly use advanced techniques such as creating Skype profiles with pictures of real recruiters from legitimate companies to conduct fraudulent interviews. Additionally, they are using artificial intelligence (AI) to generate profile pictures that can easily deceive humans.
Artificial Intelligence (AI) has undoubtedly transformed the technological landscape, making our lives more comfortable and convenient. However, there is growing concern that AI is becoming increasingly dangerous for humans, and scammers are taking advantage of the technology to deceive people.
LinkedIn users should remain vigilant and cautious while receiving messages or invitations from unknown individuals to safeguard themselves from scams. If the profile seems incomplete or their experience or credentials seem suspicious, it’s best to decline the invitation or ignore the message.
Additionally, being cautious about sharing personal information on LinkedIn, such as your email or phone number, is essential. Scammers may use this information to contact and deceive you with phishing or fraudulent activities.
To stay safe on LinkedIn, it’s also a good idea to keep your privacy settings up to date and to report any suspicious activity to the platform.
The recent wave of tech layoffs has created a vulnerable population of job seekers on LinkedIn, who are at a higher risk of being targeted by scammers. Therefore, it is essential for LinkedIn users to thoroughly research any potential employers or recruiters before sharing personal information or accepting job offers.
Additionally, companies and recruiters should prioritize transparency and ethical hiring practices to prevent scammers from exploiting the vulnerable job market. By staying informed and taking necessary precautions, individuals and businesses can work together to mitigate the risks of job scams on LinkedIn.