One of the Internet 2.0 Conference's panel discussions, hosted in the USA, discussed how social media facilitates data and identity theft and reviews scam

LAS VEGAS, NEVADA, UNITED STATES, April 12, 2023/EINPresswire.com/ -- While social media networks have revolutionized how we communicate and connect with people worldwide, they have become fertile ground for scam artists and fraudsters to carry out their illicit activities. According to a Javelin Strategy & Research report, identity theft resulted in over $10.2 billion in losses in 2022. They can easily obtain and use personal information to perpetrate fraud or steal identities. Panelists at the Internet 2.0 Conference on December 19-21, 2022, at Mandalay Bay, Las Vegas, USA, reviewed identity theft and the role of social media in this prevalent trend. Along with prevention measures, essential to protect users and businesses alike.

According to experts at Internet 2.0 Conference, one of the most significant impacts of social media on data privacy has been the vast amount of personal information that users willingly provide. Social media platforms collect and store a vast amount of data on their users, including personal information such as name, age, location, and even sensitive information such as political affiliations and sexual orientation. This information is usually the driving force for scammers to infiltrate networks.

According to Internet 2.0 Conference's panel discussion, targeted advertisement, a phenomenon amongst the recent digital marketing trends, has been a significant facilitator for fraudulent activities to take place online. According to a 2022 FTC report, the highest number of scam reports came from users defrauded via fishy advertisements they saw on social media.

To combat these scams, spam, and fraud, one of the solutions discussed by experts on stage was the need for users to be more vigilant and cautious with their personal information on social media networks. Users should avoid sharing sensitive information, such as social security numbers, credit card information, and passwords, on social media without thoroughly verifying sources.

Furthermore, experts emphasized the importance of educating users on social media networks' various scams and frauds. This includes educating users on identifying and avoiding phishing attacks, social engineering, and other scamming techniques circulating the internet.

The need for collaboration between social media networks, law enforcement agencies, and other stakeholders to combat identity theft and fraud is crucial in solidifying prevention measures. This includes sharing information on the latest scams and frauds and working together to develop new technologies and solutions to protect users' personal information.

The Internet 2.0 Conference proved to be an eye-opening event for all in attendance. By increasing public awareness of the risks associated with using social media networks as gateways for identity theft scams, more people will be empowered to make sure their online presence remains safe and secure. For more information, visit www.internet2conf.com.

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