YouTube is currently the second most popular website, which makes it an ideal venue for con artists to identify those who aren’t paying attention to their surroundings. Due to the computational hurdles of classifying multimedia, it is far more difficult to recognize cons on YouTube than in text-based media.
As a direct consequence, the academic community has only provided a limited amount of evidence about the prevalence, durability, and behavior patterns of YouTube fraudsters. The average duration of one of these hoax movies is almost nine months, and the majority of them generate revenue via the use of third-party websites. In addition, metadata does not have the predictive power necessary to discriminate between authentic and fake videos. Do you want to get more information about hoaxes on YouTube? Then you should keep reading!
1. Fake Ad Scams on YouTube
Due to YouTube’s significant use of deceptive advertising practices, there is little question that companies are worried about being taken advantage of.
Considering YouTube is unable to screen out fraudulent advertisements rapidly, you are responsible for taking the time to report any suspicious fake advertisements that imitate your firm manually. This should be done before the con artists damage your brand’s reputation and/or money.
In 2021, Ripple, a cryptocurrency and a network for digital currencies, filed a lawsuit against YouTube for running sponsored advertising that fraudulently claimed bitcoin awards using the company’s name. Fraudsters published phony advertisements using false and stolen accounts in order to con unsuspecting customers into divulging extremely sensitive information.
This was done in the hope that the customers would be taken in by the scam. It is unknown how much money the con artists could steal or how many clients were targeted; however, it has been reported that one of the several bogus accounts that were created successfully took more than $15,000 in total.
• Fraudulent ads on YouTube’s giveaway
Additionally, over the course of the last few years, there has been an explosion of phony presents and giveaway scam advertising on YouTube.
These deceptive commercials base their foundation on the idea that the winners would get prizes or even cash in order to encourage more people to become victims.
These bogus advertising for giveaways may operate in a few different ways, including the following:
- Swindlers will tell you that you have won something, but in order to get the genuine item, you will need to pay extra money. It’s possible that taxes, processing fees, and shipping and handling expenses will be added on. When fraudsters pay with cash, gift cards, or cryptocurrencies like bitcoin, it may be more difficult to trace where the money came from.
- Con artists could also be behind advertisements for sweepstakes that suggest increasing the amount you pay would improve your chances of winning.
- Scammers may ask you for your login credentials or financial information on a website that is being used for phishing in order to get access to your accounts.
• The fraudulent advertising of cryptocurrencies on YouTube
The vast majority of bitcoin scams market themselves by offering ludicrously high incentives that seem too good to be true. Most advertisements on YouTube for fraudulent bitcoin transactions come into one of two categories:
- Cons that are designed to steal the login credentials or contents of digital wallets belonging to unsuspecting customers. Scammers try to get direct access to the cryptocurrency wallets of users without their knowledge in order to transfer the customers’ bitcoin to their own accounts.
- Scams in which the victims are tricked into depositing bitcoin straight into the accounts of the perpetrators via bogus business prospects, investments, or companies that have been impersonated.
• Scam advertisements on YouTube that impersonate popular brands
Con artists may establish fake accounts for well-known companies and then use those accounts to engage in deceptive advertising on YouTube.
These advertisements frequently direct users to fake websites that closely resemble the official websites of the brands they are advertising. However, the purpose of these fake websites is to either steal your personal information while you are checking out or to trick you into purchasing fake goods.
When people think they are acquiring original goods, they often point the finger of blame at the actual firm instead of the person who sold them the fakes. They may even post negative reviews about the company on the internet. More importantly, this may significantly impact your company’s income because customers who have been scammed by an impostor posing as your company are much less likely to do business with you in the future.
If you believe that you are at risk, reach out to the Global Payback experts and we will help you out!
2. Link Click Scams on YouTube
Scammers resort to several techniques, including the usage of the phrase “YouTube,” to deceive victims into divulging their personal information or downloading malicious software.
For instance, they could send you an email that includes a link to a video on YouTube. Instead, you will be sent to a website that is an exact replica of the real one; nevertheless, you will be required to check in before proceeding, giving the imposter access to your account.
In a common situation, you would be asked for your mobile phone number before you are allowed to watch, and you will be charged for the service via your monthly phone bill. This might be for a single watch or an ongoing subscription service.
They will also send you emails that seem like they came from YouTube and invite you to get in touch with them (through a link) because your video was removed from the site or because it’s the most popular thing. These emails are a scam. You may also be presented with a warning informing you that the Adobe Flash video player on your computer is outdated and has to be upgraded before you can proceed.
3. Fake Comments on YouTube
One of the most important functions of the YouTube service is the capacity for users to comment on videos.
This is used in various scam tricks, including making bogus postings. This also includes testimonials from made-up customers praising the product. In other cases, commentators may promote their own products or provide links to malicious software.
4. Scam Products in YouTube Videos
You may find every conceivable kind of fraudulent content on YouTube, from pyramid schemes to claims that your vehicle can function on water alone.
The problem is that using video to promote a notion or anything else adds greater credibility to the allegations. We are more inclined to believe what we see in a video, whether it is a television news story or an interview with an allegedly delighted customer.
One kind of modern investment scheme to watch out for is a video presentation that encourages viewers to acquire before initial public offerings (IPOs) of new technology shares.
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What is YouTube Doing to Prevent Scams on Its Platform?
On YouTube, scammers are not authorized to engage in activities such as spamming, fraud, or any other dishonest behavior that takes advantage of the YouTube community. In addition, they do not allow content whose main purpose is to fool users into leaving YouTube and going to another website. Individuals are obligated to report any content they come across on YouTube that violates this guideline.
Therefore, what kinds of content does YouTube consider a red flag in order to safeguard its users?
Video spam content
Videos that are non-targeted, redundant, or excessively posted and that engage in one or more of the following activities:
- Tricks viewers into a false sense of security by diverting their attention elsewhere.
- Offers visitors the opportunity to earn money quickly in exchange for clicking, watching, or visiting your website.
- Directs users to websites that include harmful software that intends to collect personal information or have some other undesirable consequence on the user.
Thumbnails or metadata that is deceptive
Through the use of the material’s title, graphics, and description, the users are led to believe that the content is something that it is not.
Content intended to deceive users by promoting pyramid schemes, so-called “get rich quick” scams, or financial gifts (sending money without a tangible product in a pyramid structure).
A video that is sold in return for YouTube engagement metrics such as views, likes, comments, or any other indication.
Examples of these metrics are views and likes. This scam may also comprise content whose only intention is to raise the number of views, subscribers, or any other measure. Some examples of content that fall under the “Sub4Sub” category include making an offer to subscribe to an additional creator’s channel in exchange for them subscribing to your own channel.
Comments whose only purpose is to acquire personally identifiable information from viewers, to mislead viewers into quitting YouTube, or to participate in any of the prohibited behaviors listed above.
Leaving a large number of comments that are all identical, irrelevant, or repetitive in nature.
YouTube, one of the most successful websites in the history of the internet, has turned all of us into amateur filmmakers.
However, you should also be aware of how scam artists use YouTube to trick people into handing over their money and personal information or to trick them into visiting fake websites. Notify the Global Payback team immediately of any activity that you feel may be a scam, and we will help you catch your scammer and retrieve your stolen assets.