Scammers Target Businesses through LinkedIn

Cybersecurity expert advises businesses on how to avoid LinkedIn scammers/swindlers

by Mike Hunter

A majority of organizations (83%), from small to large, have a LinkedIn profile, and, according to the newest research by NordLayer — a network security solution for businesses — half of businesses in the U.S. (52%) experienced at least one LinkedIn scam this year. The most affected tend to be big companies (65%), requests to connect from an unknown person with a suspicious link in the message is the most popular scam they encounter (47%), and damaged reputation (48%) was the leading outcome of LinkedIn scams.

Surprisingly, almost half of U.S. companies (43%) are also aware of a scam on LinkedIn using their organization’s brand name.

“Like in every social media platform, attackers and scammers seek information and money or ruin reputations. We know that employees are considered to be the weakest link in the cybersecurity chain, and LinkedIn has millions of professional accounts, making it an even more appealing target for scammers. So, no one should let their guard down, no matter how professional a message might look,” says Carlos Salas, a cybersecurity expert at NordLayer.

WHAT SIZE COMPANIES ARE MOST AFFECTED BY LINKEDIN SCAMS?

According to the research, 65% of big U.S. companies have been contacted by a scam/fake account on LinkedIn at least once. Furthermore, 58% of medium-sized and 31% of small companies have experienced it at least once.

Salas says, “Cyberattacks are a major threat to businesses of all sizes. However, big companies are often the most targeted due to their data and value. They also have larger networks and databases, making them vulnerable to attack if their security measures are not up to par. Hackers will often focus their efforts on these targets to maximize their rewards.”

Leading Outcomes Of Linkedin Scams

As the leading outcome of LinkedIn scams, big companies named damaged reputation (48%) as well as stolen/damaged data and high financial loss (40% each). Medium enterprises were hurt the most by damaged reputation (47%) and stolen/ damaged client contacts (45%). Lastly, small companies that experienced any kind of scam indicated that financial loss (67%) as well as interruption to operations and stolen intellectual property (58% each) were the most common damage.

Says Salas, “One of the best ways to protect your business from LinkedIn scams is to educate your employees about the types of scams that exist and how to recognize them. Also, encourage your employees to use two-factor authentication (2FA) on their LinkedIn accounts as well as verify requests for information.

“Finally, regularly monitor the activity on your business’s LinkedIn account. Look for any suspicious activity, such as unauthorized logins or changes to account information. If you notice signs that your business has been targeted by a LinkedIn scam, report the activity to LinkedIn immediately and take steps to secure your accounts and data.”

Most Common Types of Linkedin Scams and Employees’ Response to Them

NordLayer is an adaptive network access security solution for modern businesses. It helps organizations of all sizes fulfill scaling and integration challenges. Moving toward an everevolving SSE ecosystem, NordLayer is quick and easy to implement with existing infrastructure, is hardware-free, and is designed for scaling. As a cloud-native solution with an easy-to-use interface, NordLayer offers protection to businesses of any size, complexity or work model, including remote or hybrid workplaces. nordlayer.com inbusinessphx.com