Gogolook 2022 Annual Fraud Report : Domains

Gogolook 2022 Annual Fraud Report : Domains

Gogolook, a leading TrustTech brand, enhances global security with anti-fraud technologies and risk management services. As fraud scenarios develop, we evolve and expand our capacity and capabilities. Gogolook and Criminal Investigation Bureau released “2022 Annual Fraud Report: Domains”. It underlined that since Gogolook Watchmen Reputation Protection Service added AI detection for fraudulent domains in October 2022, the system detected fraudulent domains under development in advanced that disguised as enterprise or government websites. The report also disclosed latest trends in fraudulent domains.

 

Over 2,000 new fraudulent domains are created monthly! Watchmen Reputation Protection Service reveals nearly 60% are related to investment

With Whoscall Numbers and Fraud Early Warning System, Gogolook Watchmen Reputation Protection Service deploys designated systems and teams for enterprises to detect fraudulent information in text messages, calls, domains, and social networks in real time. In response, companies can initiate anti-fraud mechanisms immediately. Fraud cases now often spread fraudulent domains and websites via text messages, messaging apps, and social media to trick victims. At the end of 2022, Watchmen worked with Criminal Investigation Bureau to develop an AI system to detect fraudulent domains. Through this effort, scam websites will be detected and blocked before spreading.

According to Watchmen analyses, over 2,000 new fraudulent domains are created monthly on average. These scams are broadly in several categories: investment (57.7%), one-page websites (16.8%), e-commerce (12.5%), gambling (3.6%), loans (2.7%), and others (6.6%). For different subjects, scammers will produce website lookalikes from known brands to lower user alerts. For example, fake investment websites imitate cryptocurrency exchanges, such as Binance, FTX, and JPEX. Fake e-commerce platforms look similar to PChome or momo. Fake loan websites are often named similarly after renowned banks to be confusing, such as Cathay Loans or Far Eastern Finance Marketing Center.

 

Watchmen pinpoints four common features among fraudulent domains

Administrative Yuan has announced action guidelines against new-generational frauds, and highlighted efforts to identify, block, intercept, and penalize frauds. People should be equipped with knowledge to identify scam tactics. According to Ministry of the Interior, most common scam tricks in 2022 are fake online sales, fake investment, and installation cancellation, in which fraudulent domains are critical. Among proliferating fraudulent domains, some features remain the same. After analyzing thousands of cases, Watchmen has compiled four features for public attention.

 

Four features among fraudulent domains listed by Watchmen are:

  1. Amateur website design: Images in low resolutions, texts in Simplified Chinese, shabby pages with broken buttons and menus.
  2. Suspicious random domain names: Instead of common legal domains, such as .com, .net, .org, or .tw, irregular spellings or confusing names are alarming.
  3. Newly registered domains: Use WHOIS databases to search when domains are registered. Fraudulent domains are mostly registered within three months.
  4. High-risk distribution channels: Fraudulent domains are unlikely to appear in Google research results. They are mainly distributed through text messages, LINE/Telegram groups, or advertisement/groups on social media.

 

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