Social Media Scams
Social media is extremely popular, with some platforms having over 2.9 billion monthly active users. In its latest Consumer Protection Data Spotlight, the Federal Trade Commission (FTC) says 2021 was a banner year for social media scammers, with $770 million in social-media–originated fraud losses reported to the agency. The more than 95,000 people who reported losing money to social-media–related fraud represent more than 25% of all fraud loss last year, according to the FTC. While it is a great way to connect with friends and family, it is also a breeding ground for scammers. There are numerous scams on social media that people fall victim to every day.
Phishing scams are the most common type of social media scams. They are designed to trick you into revealing your personal and financial information. The scammer will create a fake login page that looks like the official login page, and they will send you a message or email that prompts you to log in. Once you enter your login details, the scammer will have access to your account.
To protect yourself from phishing scams, always check the URL in the address before entering your login details. Make sure it is the official social media URL., some examples of those are www.facebook.com, www.twitter.com, www.snapchat.com, or www.instagram.com.
Fake giveaways are another common scam on social media. Scammers will create a post or message that promises a prize or giveaway if you click on a link or share a post. These scams are designed to get you to click on a malicious link or share personal information.
To avoid falling victim to fake giveaways, be cautious of posts or messages that offer too-good-to-be-true prizes. Always check the legitimacy of the page or person offering the giveaway, and never share personal information with anyone you do not know.
Romance scams are becoming increasingly common on social media as well. Scammers create fake profiles and pose as someone looking for a romantic relationship. They will build a relationship with their target and eventually ask for money or personal information.
To protect yourself from romance scams, be cautious of anyone you meet online who asks for money or personal information. Always verify the identity of the person you are speaking with and never send money to someone you do not know.
Tech support scams are also prevalent on social platforms. Scammers will create a post or message that claims there is a problem with your computer or device. They will offer to fix the problem for a fee or ask for access to your computer or device.
Be cautious of posts or messages that claim there is a problem with your computer or device. Always verify the legitimacy of the person offering the service and never give access to your computer or device to someone you do not know.
It is important to be vigilant to protect yourself. Always be cautious of posts and messages that seem too good to be true and verify the legitimacy of the person or page before sharing personal information or clicking on links. By being aware of these common scams and taking necessary precautions, you can enjoy the benefits of social media without becoming a victim of scams.
- Unusual login attempts or account access from unfamiliar locations or devices, which may indicate a phishing scam.
- Frequent small transactions or transfers to unfamiliar recipients, potentially linked to fake giveaways or romance scams.
- Rapid increase in the number of transactions or transfers to new recipients, which may signal involvement in a fake giveaway or tech support scam.
- Customers reporting unauthorized transactions, which may result from phishing scams or malicious links related to fake giveaways.
- Sudden requests for loans or withdrawals for unusual purposes, possibly tied to romance scams or other social media scams.
- Customers sharing personal information or account details with unknown individuals or pages on social media platforms.
- Transactions involving payments to suspicious tech support companies or individuals, indicating a potential tech support scam.
- Set your profiles to private and restrict your social media contacts to people you know personally.
- Be on the lookout for suspicious posts, including limited time offers, discounts that seem too good to be true, and requests for personal or account information.
- Be wary of individuals you meet through social media sites, especially if they promise romance before you've met in person.
- Create a unique username and password for each app and website you use to help protect against unauthorized access across multiple accounts.
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Do NOT accept friend requests from strangers.
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Do NOT respond to online solicitations for "to good to be true money" and be wary of requests to send money to a prospective employer.
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Do NOT click on suspicious links even in posts or direct messages from people you know – their account may have been hacked.
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Do NOT display personally identifiable information (PII) on your social media profile such phone number, home address and date of birth etc.
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Do NOT send money to someone you have only met online and never met in person. If you receive a request from a friend or family member for money, always contact them directly using a different method (phone, email, text, messenger etc.) to make sure their profile was not hacked.
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