83 Million Facebook Users Ruled Fake As Stock Falls Below $20 [POLL]
Facebook's shaky stock prices dipped below $20 a share Thursday after the world's largest social network released a report admitting 8.7 percent of its users are fake.
World media outlets quickly began calling it "Fakebook" after it was revealed as many as 50 million of the accounts are either duplicates, multiple accounts for people, accounts set up for animals, and even those set up for scamming or "phishing" schemes. While an estimated 1.5 percent of the 955 million users are estimated to be tied to malicious activity, that still amounts to close to one million users.
The report is part of a quarterly review now required as it's a publicly traded company. The number of "fake" accounts grew from 5.6 percent in March, to the present 8.7 percent. But Facebook officials say that's because since the company went public, increased scrutiny and security have been put in place, monitoring accounts and fraud. The increased number, they say, is because they have identified many more that are not legitimate.
Meanwhile, the stock dropped below $20 a share on this news. The total number of real, genuine accounts is important to Facebook as they seek to sell advertising - and have to provide real, hard numbers to potential clients. Facebook opened at over $38 dollars a share when it first went public in May of this year.
Have you ever created (based upon the above criteria) a 'fake' Facebook account? Take our poll -- don't worry, it's anonymous!