A study indicates that around 30-35% of the people read reviews, article and various other stuff on internet before buying any financial product. So what if some one reads a fake review and buys a financial product? What will happen? For example a person searching for the best available online term plans in India on internet comes across a positive-fake review posted by someone who has promoted or emphasized on a not so good online term plan (of a particular company/product) on a consumer forum. And what if after reading it the person is convinced and is not aware about the genuineness of the review and buys the product then he is at risk!
So I decided to write on how to detect a fake customer review on internet. There are many informative articles available on the internet on this topic but the one which I liked the most was on NYTimes.
They have systematically explained various parameters you need to look at while identifying a fake review.
Deceptive reviews on the Web can be very hard even for experts to identify as fake. A team of researchers at Cornell University has been developing sophisticated automated methods to detect them, based on analysis of the text. Here are some of the features that their algorithm looks for, using this example of a fake hotel review.
In case of a financial product the person would place more emphasis on the name of the product, broker or agent from whom he bought it and the amount invested by him or her. He may state a higher amount invested by him to convenience more people!
I would recommend all the readers to read the review but not to act fast on it, rather you should comment and get into a discussion with the writer of the article/review and ask questions and clear your doubts. Only when you are convinced go ahead!
Have some point to add? Comment and share your thoughts!