By John Dancu
The New York Times reports today that Facebook profiles, both fake and stolen, are now for sale on the black market. This on the heels of yet more privacy controls scrutiny for the social network. Why, oh why Facebook won’t you embrace verified identities? Yes, Facebook reports they have controls in place to spot fake accounts, but knowing someone is who they say they are right when the account is set up sure would help social networks a lot. I won’t recount the many reasons we’ve argued for this over the past few years but you can read some of them here and here and here.
With more than 400 million members, spending over 500 billion minutes per month connecting and sharing personal information with each other on Facebook, no one should be surprised that fraudsters are trying to exploit these accounts.