LinkedIn scams are getting more dangerous with big companies being targeted- Here are some safety tips

Scams originating on LinkedIn are getting more dangerous and common, research by NordLayer finds. More than half of US-based businesses (52 per cent) have already experienced at least one scam on LinkedIn in 2023, as per the report. 

When LinkedIn was launched in 2003, it was a coming-of-age platform for both job-seekers and employers. Within a year of its launch, its users reached 1 million, and the platform soon became a focal point for emerging small businesses and start-ups.

In recent times, the platform has become more than a professional network service. It is a place for building your social network and sharing anecdotes or chunks of knowledge with your connections; for people running personal businesses, it is a place for increasing their digital presence.

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But with growing possibilities with LinkedIn, scams and online phishing is also booming at an alarming rate. After WhatsApp’s scam calls and fraudulent texts, LinkedIn is now caught under the radar of fraudsters. 

Key findings in the report 

The report states that big businesses seem to be the most popular targets, almost two-thirds (65 per cent) of big US companies have experienced at least one attack this year. However, the smaller businesses are also not spared- 58 per cent of medium and 31 per cent of small companies suffered at least one attack this year. 

Most common type of scam on LinkedIn

These businesses aren’t just victims because they are being targeted; their brand name also gets used in attacks which tarnish their image. 

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One of the most prevalent types of attacks among big companies includes impersonating people working in other big companies. About 53 per cent of scams are based on this type of scam, and it is somewhat unique for big brands, as only 13 per cent of small companies experienced such scams. 

Most common way to combat the online scam

The report found that businesses and people who have been victims of these scams have three common ways of addressing it:

-69 per cent of the victims contact LinkedIn’s customer support

-66 per cent of the victims directly contact their company’s IT and cyber security department

-45 per cent of the victims would often talk about it on the network itself

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But what is the best way to address these threats? As per Carlos Salas, a cyber security expert at NordLayer, the best way to protect your business from these scams is to educate the company’s employees about the types of scams that exist and how to recognise them. 

Also, encourage your employees to use two-factor authentication (2FA) on their LinkedIn accounts as well as verify requests for information,” Salas added further. 

How to turn on two-step verification on LinkedIn?

1. Tap on your profile picture > Settings > Account > Two-step verification

2. Tap the toggle to turn two-step verification on or off.

3. Choose the preferred verification method from the dropdown and click Continue. 

Other common scams on LinkedIn 

1. Catfishing

Scammers impersonate people online to trick others into revealing private information or handing over their hard-earned money. 

2. Phishing

Phishing is an attempt to get targets to hand over their personal information through deception. 

For example, a scammer may tell you they are a recruiter from a top company and find your profile promising and urge you to apply. However, instead of directing you to the actual company site, they send you to a fake site that prompts you to hand over information.

3. Fake job offer

This is also one of the most common scams on LinkedIn where people are roped in for fake fancy job offers. Fraudsters offer you a job or trick you into providing a service and then ghost the user once they receive it without paying for it. 

4. Malicious software

When receiving any message from a stranger, be wary of any files they may convince you to download. Sometimes these Word documents, PDFs, or website links have malicious software in them that can leak your personal data to the scammer. 
 

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