Cybercrime On Facebook Is Of Least Concern To Its Executives

Cybercrime On Facebook Data Breach
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There is no better time for committing Cybercrime on Facebook than right now. At least that’s the intent the platform is displaying with its least bothered attitude.

Cisco Talos — an online security research group, has released a report showcasing in detail the fearless existence of cybercrime on Facebook.

According to Talos, a total of 74 groups containing 385,000 members are openly advertising their cybercrime services to interested buyers.

Earlier in 2018, Brian Kreb, a security reporter, detailed the existence of unethical hackers on Facebook. These cybercriminals were offering stolen credit cards and bank information along with targeted services like the DDoS attack.

Cybercrime Out In The Open

Cybercrime On Facebook

The dangerous part about these groups is the easily accessible nature of them. Talos reports that these groups often use obvious names like ‘Spam Groups,’ ‘Spam professionals,’ etc. Furthermore, Facebook recommends more such groups once you join any one of them.

The Spammers group offers several services including stolen credit card information, CVV numbers, forging fake documents, and Phishing attacks.

Some groups were offering big user e-mail lists containing online addresses of individuals belonging to private as well as governmental organizations.

It goes without saying that an unprecedented amount of damage can be done by almost any Facebook user with enough bitcoins.

The Incentive

Cybercrime On Facebook Hacker Bitcoin

These Facebook spammers also use Bitcoin as a mode of payment just like other hackers. Transactions via PayPal is another popular method used by these hackers.

These criminals either contact directly with their customers or use middle-men to carry out cybercrimes. Facebook’s algorithm is dependent on the user to report any malicious group or post on its platform.

Whenever these groups were taken down, new ones sprung up with a different name to offer identical services. Being on Facebook gives these hackers an edge as they can directly contact customers via chat or comment.

What Should Be Done?

Cybercrime On Facebook Hatespeech

Recently, Facebook banned every ‘White Nationalism’ or ‘White Separatism’ content on its platform. The move, although extreme, will at least help prevent tragedies like the Christchurch attack, where the terrorist attack was live streamed on Facebook.

A similar move for these unauthorized groups might be required for Facebook to cleanse itself from being a nest of spammers.

Also Read: Another Facebook Data Fiasco: Data Of 540 Million Users Leaked To Third-Parties
Yetnesh Dubey

Yetnesh Dubey

Associate Editor at Fossbytes. Yetnesh manages the everyday editorial duties and oversees the writing staff. He occasionally covers news related to electric vehicles and tech.
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