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Identity theft using fake accounts – an underestimated threat with serious consequences
Executive Education / 4 August 2025

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Patrick Müller holds a degree in Business Informatics and has worked as both a forensic data analyst in consultancy as well as a data scientist in industry. He has been self-employed since 2020, focusing on consulting for the preparation and implementation of data analysis projects. He is a lecturer for the Certified Fraud Manager and Certified Audit Data Scientist certificate programmes at Frankfurt School. His professional passion is "transforming fraud into value and insights into EBIT."

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In an increasingly digitalised business world, identity theft on social networks is not a peripheral issue. In fact, it is an essential component of the meticulous planning required for social engineering crimes. Fake profiles that imitate reputable organisations or their employees are intended not only to mislead, but are also a stepping stone to more serious forms of fraud, such as CEO fraud and its variants:

An example illustrates this problem, which is sometimes easy to implement.

The legitimate domain www.patrick-mueller.de can be imitated by creating a strikingly similar fake domain www.patrick-rnueller.de. The minimal change from the letter m (M) to rn (RN) is hardly noticeable at first glance. This fake domain could then be used to specifically contact customers and business partners. Fraudsters would probably use previously intercepted e-mail communications to specifically follow up on existing conversations. This way, recipients are less likely to check the exact spelling of the sender’s address and are more likely to open attachments or click on links.

Similarly, correct profile names can be imitated on social networks and fake copies of channels can be created that look deceptively real.

Recognising warning signs in communication early on

Cybercriminals are using increasingly sophisticated methods to make their scams appear legitimate. The following graphic illustrates the typical warning signs that can be used to identify and prevent fraudulent contact at an early stage. Raising awareness of these common characteristics among yourself and your employees is an effective way to minimise risks. Please note that these are not the only warning signs, and fraudsters are constantly adapting their methods. Please remain vigilant at all times.

Reactive measures: What to do in the event of identity theft?

If a company or personal profile is copied, for example on social media, it is important to take determined and coordinated action:

  1. Contact the platform operator:
    Report the fake profile directly using the reporting function (e.g. “Report as fake”).
  2. Publish a public warning:
    Inform your community about the incident on the official channels (e.g. story, post, e-mail).
  3. Check other platforms:
    Check whether similar imitations exist on other networks.
  4. Document proof:
    Save screenshots, links, timestamps and messaging histories and keep them available for compliance, tracking and legal action if necessary.
  5. Inform IT and data protection officers:
    A risk assessment should be carried out even if no personal or confidential data is affected, as third parties who may share sensitive information or confidential data about you in good faith could also be affected.
  6. Coordinate communication
    It is important to keep internal and external stakeholders, especially employees and business partners, informed of the situation. A central point of contact and communication is helpful.

Preventative measures: Protection begins with your own communication.

Even better than taking reactive action is to provide preventative information and protection. The following measures help minimise risks at an early stage:

For employees:

  • Critically assess contact requests:
    Profiles with few followers, blurred images or unusual wording are suspicious.
  • Pay attention to warning signs:
    Impersonal salutations (“Social Media Team”), missing links to the official website or unexpected communication channels.
  • Use verified channels:
    Official communication should be conducted via verified accounts or established encrypted channels where possible.
  • Do not open attachments or links from unknown sources:
    Even seemingly harmless direct messages can contain malware.

For organisations and Marketing:

  • Have official accounts verified:
    A verified account is an important sign of authenticity.
  • Use corporate design consistently:
    Using consistent language, imagery and hashtags makes it harder for fraudsters to appear credible.
  • Launch awareness campaigns:
    Trainings, internal handouts and posts with titles such as “How to recognise our real account” can help to raise awareness.
  • Set up monitoring and alerts:
    Use tools to monitor brand names and fake accounts on social media.
  • Set clear guidelines for employees:
    Rules for the professional use of social media, especially when dealing with screenshots, company names and brand references, are essential.

Social engineering starts on a small scale

Fake accounts are rarely coincidental. They form part of professionally prepared attack strategies designed to deceive individuals and organisations. The more credible the fake, the higher the probability of success, whether through CEO fraud, fake business partners or alleged authorities. Manipulated information can cause considerable damage, particularly in the context of international business relations. Examples include payment transactions being made to the wrong recipients, reputational risks, and supply chain disruptions.

Conclusion and more in-depth information

Identity theft is not a hypothetical danger, but a real threat to companies, public authorities and educational institutions. To effectively protect themselves today, individuals must be able to recognise deceptive patterns, implement targeted preventive measures, and respond professionally in the event of an attack.

Would you like to find out more?

In the Certified Fraud Manager (CFM) certificate programme, you will explore new forms of IT-related fraud (cyber fraud) and learn how to systematically recognise and combat identity theft and social engineering.

Visit www.fs.de/cfm to find out more about the content and benefits of this programme and to protect your company and your data from the latest tricks used by fraudsters.

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