Fake ads: Fake articles about celebrities advertise investment portals
Criminals use fake celebrity interviews to advertise fraudulent investment portals on social media. In Austria alone, they reach 200,000 users every day.
Fake ads with celebrities as decoys are designed to lure users to fraudulent investment sites on social media.
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Criminals are trying to lure social media users to fraudulent investment and crypto sites with fake interviews and articles about celebrities. According to research by the information portal Watchlist Internet, the fraudsters reach 200,000 people a day with fake articles and posts on Facebook and Instagram in Austria alone.
"The scam has been working for years," writes the portal , which provides information about fraudulent phenomena on the Internet and is run by the ACR Institute, the Austrian Institute for Applied Telecommunications (ÖIAT) in cooperation with the Internet Ombudsman's Office. The approach works not only on social media, but also viaadvertisements on reputable websites.
Fake celebrity interviews serve as a decoy
The portal regularly receives reports of fraudulent advertisements. It appears that Austrian celebrities are advertising the investment platforms that deprive their victims of their savings. "The financial damage caused by this scam is enormous," writes Watchlist Internet.
In two days, researchers found 246 fraudulent ads in the meta advertising library - most of them with photos and names of Barbara Fleißner (125), presenter of Puls4, with a reach of 89,632. 76 fakes showed ex-politician and oe24 commentator Gerald Grosz, which reached the most people with a reach of 141,636 in two days. In second place were the fake posts with ZIB presenter Nadja Bernhard, who reached 116,161 people with eight ads.
Watchlist Internet found a total of 9,000 ads with impressions between January and April 2024. The scammers used a total of 25 celebrity names for the posts. The researchers "observed a test of the effectiveness of advertising with different stars".
Clickbaiting and fake news sites
The advertisements lure their victims to fake websites that strongly resemble real news portals, for example, via emotional access. Design elements and logos from media companies such as oe24.at, Kronen Zeitung or programs such as "Zeit im Bild" are used here. The fact that these pages are not genuine becomes particularly clear when you look at the URL. In addition, after clicking on the link, it becomes clear that the page is advertising investment platforms.
The originators often slip through the checking mechanisms of the social media platforms. The advertisements examined came from 27 different profiles, reports Watchlist Internet. "These are mostly hacked Facebook accounts of verified users with many followers," explains the portal. "Such accounts are specifically used by criminals to circumvent or at least complicate the platforms' internal verification process." At first glance, the profiles and content appear harmless. In addition, the verified account gives them the benefit of the doubt. The links are often disguised or lead to supposed newspaper articles that report on the investment platform.
Caution is advised
"Although these supposed news items are also fake, in contrast to the advertising of financial products, no authorization from the Financial Market Authority is required to advertise news articles," explains Watchlist Internet. Meta has deleted some fraudulent ads, but many are still online - even from the same accounts.
"Anyone who has invested on one of the fraudulent platforms should report the advertising on the respective platforms, file a criminal complaint with the police and contact the bank to try to get a refund," recommends Watchlist Internet. Particular vigilance in the advertising of such platforms by celebrities and profits that sound particularly lucrative will protect you in advance.
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