‘Very serious’ warning as major research finds half of online reviews fake | Personal Finance | Finance
People have been warned after a study found serious issues (Image: Jacob Wackerhausen via Getty Images)
UK consumers ought to be on high alert when making crucial financial or lifestyle choices based on companies’ online reviews, according to specialists at TruthEngine, an independent platform which focuses on the identification and prevention of fake reviews. It stated its research, drawing on millions of datapoints and forensic examination by a team of PhDs over a five-year period, indicated that just over 50% of online reviews were now fake.
Put simply, that means consumers are frequently navigating a system where what appears to be authentic feedback is far from it. It stated the issue spanned every sector – from estate agents, financial advisers and travel companies to online retailers, energy firms and telecoms providers, no area of the market was immune.
It stated the problem, quite simply, was ubiquitous. Part of the issue is behavioural, the researchers stated. People who left reviews were considerably more likely to do so following a negative experience than a positive one. That naturally distorted genuine feedback.
But compounding that was the increasing volume of manufactured reviews designed to artificially inflate ratings and influence purchasing decisions.
“Fake reviews have been an issue since online reviews became a thing just after the millennium and have been growing and getting more sophisticated ever since,” said TruthEngine CEO Daniel Mohacek. “But now, with the arrival of AI, the problem has become so big that it is effectively institutionalised within modern ecommerce. Brands large and small are complicit and people are being lied to on an industrial scale.”
There’s a 50/50 chance the review is fake (Image: Happy Kikky via Getty Images)
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Ironically, the ratings many consumers trust the most may now be the least reliable. Because AI, increasingly, is the author.
Companies boasting near-perfect scores, particularly those hovering around 4.9 out of 5, should be treated with caution. According to TruthEngine, these are often the clearest warning signs of manipulation.
In contrast, businesses with ratings in the two to three-star range are increasingly seen as more credible, as they reflect a more natural mix of positive and negative feedback.
Daniel added: “If it looks too good to be true, it usually is. When you see a brand with hundreds or even thousands of five-star reviews, that should be a massive red flag. It’s now less a reason to trust them than, increasingly, not to trust them.”
Such is the scale of the issue that TruthEngine has launched TruthMark, a verification stamp awarded to businesses whose reviews have been independently authenticated and rigorously audited. While fake reviews can sometimes lead to minor disappointments, such as a mediocre restaurant or underwhelming hotel, the risks are far greater in other sectors. Consumers are increasingly making decisions about health products, financial services and children’s goods based on reviews that may not be real.
Daniel said: “It’s one thing when a restaurant has duped you into buying a meal through fake reviews, but it’s another thing altogether when you buy a product that could put your or your loved ones’ lives at risk. And this is where things get very serious.”
