While scams are nothing new, technology is helping fraudsters find more ways of misleading people online. Social media has paved the way for the spreading of fake news. Cyber criminals are using banks’ names and logos and even images of executives to deceive. 

Fake news is information that might look accurate but is intended to mislead. It is often used in scams.

A lot of fake news can be found on social media as posts or as fake advertising that have the look and feel of legitimate news website. The cyber criminals behind this misleading content, that leads to a site featuring a false article, want users to click on links so they can steal personal data. 

Such posts usually bear fake images of business leaders, executives or other well-known individuals, as well as captivating headlines to promote attractive investments that are actually intended for the user to fall victim of financial fraud or scams.

Fake news about banks

Finding the name of a bank in the headline of a fake news item is more common than you might think. By spreading false information about products and services or impersonating employees or executives, cyber criminals seek to take advantage of companies’ reputation and credibility to trick readers into financial scams.

They grab your attention by announcing the launch of highly profitable investments that the bank or individual mentioned in the post allegedly endorse.  

The case of Santander and its executives

Fake news items have recently been spotted on social media announcing an investment product offered by Santander and the launch of a Santander-run investment platform. The bait is an image of one of our executives, José Antonio Álvarez, which has been altered using artificial intelligence.

Though the content behind the link is housed on several fraudulent websites, the social media posts have the same design as authentic online media to make them look genuine.

The cyber criminals’ aim is for users to click on the link so they can gather their bank details and make off with their money. 

Fake news about Santander that uses a reworked image of an executive.

If you suspect something, report it

If you spot fake news about Santander or one of our employees on social media, or if an article appears suspicious, send it to reportphishing@gruposantander.com or share it with our teams.

Also, if you see a fake post or announcement by Santander or another company on a social network that you think could be fake or part of a scam, you can also report it directly to the network.  

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