Recent research from CSC shows how the launch of Threads has attracted cybercriminals who are targeting brands for fraud and abuse. ‘Threads‘ is a new text-based conversation app by Meta that has been launched as a Twitter rival. The app has logged 5 million sign-ups in its first four hours of operation, and currently estimated to have 125 million users (as at Aug-23).
Scammers are using Threads to send fraudulent messages that appear to be from legitimate businesses or organisations. They are also using Threads to create fake accounts that impersonate real people or businesses.
The risks of fraud and brand abuse on Threads include:
- Financial loss: Scammers may try to trick users into sending them money or providing personal information.
- Reputational damage: Businesses or organizations may be impersonated by scammers, which could damage their reputation.
- Identity theft: Users’ personal information could be stolen by scammers, which could be used to commit identity theft.
CSC has observed hundreds of new domain registrations using the term “Threads”, many of which are affiliated with existing brands. The research reveals that 84% of Interbrand’s Top 25 Brands are already being infringed on Threads, through logo abuses, brand impersonation, hacks, and other methods.
Organisations are advised to be vigilant to digital brand impersonation attempts to avoid falling victim to such compromises.
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