‘Fake news’ becomes a business model, say researchers

WASHINGTON: Cyber criminals have latched onto the notion of “fake news” and turned it into a profitable business model, with services starting at under $10, security researchers said on Thursday.

The online security firm Digital Shadows released a report highlighting services aimed at creating bogus media websites, fake reviews and social media “bots” or automated accounts to promote or denigrate commercial products and services.

One of the methods used is creating bogus or “spoofed” media websites designed to look like those of legitimate news organisations. The researchers uncovered some 2,800 “live spoof ” sites.

This can be done by changing a single letter in a web address to create a fake “clone” of a legitimate news organisation site.

Some criminals use the same methods as Russia-based propagandists — modifying legitimate documents and leaking them as part of disinformation campaigns, the report said.

“Like any good news story, content will be shared, liked, reposted and distributed across many different platforms and channels,” the report said.

“The more widely a piece of disinformation can be spread, the better the chances of it capturing the public imagination and achieving its objective — whether that is to discredit an opponent, sow discord or to generate profit.”

While the use of these tools in political campaigns has become a growing concern, the same methods can be used for profit, according to the report.

“The sheer availability of tools means that barriers to entry are lower than ever,” said Rick Holland, vicepresident of strategy at Digital Shadows. Holland said “tool kits” are available on a trial basis for as little as $7 to control the activities of social media bots.

Retailers are also a target, with one service offering Amazon ranking, reviews, votes, listing optimisation and selling promotions at prices from $5 for an unverified review to $500 for a monthly retainer.