Social Media Scams and Online Scams
Scams on social media are becoming more common. Scammers are continuously trying new tactics, such as false job opportunities or investment scams. Here, we address the most frequently asked questions related to social media and online scams so you can better understand the scope of scams and how to protect yourself.
What Are Social Media Scams and Why Are They Increasing?
Social media scams are fraudulent activity on social media platforms such as Facebook, Instagram, Telegram, and even social media scams on WhatsApp. These scams may include offers that seem attractive, emotional appeals of scammers, or impersonation of people we know and trust, such as a friend or public figure. In many cases, scammers want to spread malicious information and take advantage of users’ trust in their connections on social media.
Online scams, more broadly, include phishing emails, fake websites, and scam phone calls that trick individuals into revealing personal and/or financial information. With a growing number of people moving their lives entirely or partially online, many opportunities are being created for scammers to take advantage of digital theft and deception, which continues to rise.
How Do Social Media Scams on WhatsApp Work?
Scammers are leveraging WhatsApp to execute fraud in many ways, including scams involving fake jobs, lottery messages, phishing links, and investment groups. You may receive a message stating that you have won a prize or a part-time job offering a high wage for very little effort. If you engage with the message, the scammer will likely ask for personal information, bank details, or money to be paid under the guise of “registration” or “taxes.”
Which Online Scam Types Are Most Common?
1. Phishing Scams
Email or clicking links, which fool users into giving their data.
2. Online Shopping Scams
False websites, which claim they are selling specific products, but nothing arrives, or it is counterfeit.
3. Investment Scams
Scammers offering investment opportunities with promised high returns, often represented as crypto or forex, which is fake.
4. Romance Scams
Scammers construct fake relationships to exploit a victim emotionally and financially.
5. Job Scams
Fake job advertisements that request application fees or bank details on false premises.
How Can You Prevent Social Media Fraud and Maintain Online Safety?
- Double Check the Information: Be sure to double-check messages or links with trusted websites.
- Never Share OTPs or Passwords: No trusted, legitimate company will ever ask for sensitive information through chats or social media.
- Don’t Click on Unsolicited Links: Avoid links not from a trusted sender.
- Report Profiles that are Impersonating Friends or Companies: If you come across a person or company pretending to be a friend or company, report it on the platform and/or contact them directly.
- Enable Two Factor Authentication: It will allow you to have additional security on all of your accounts.
What Should You Do If You’ve Fallen Victim to an Online Scam?
If you have shared sensitive information within chats with scammers or if you have made a payment:
- Report it to your Bank: Make sure to block your card or account immediately, or ask the bank what to do to stop losses.
- Change and update all of your passwords: Use a strong new password for each account.
- File a report immediately: Report exactly what happened to your police department or any government entities that deal with cybercrime.
- Keep all evidence: Retain copies of chats, transaction details, and screenshots.
How Can You Stay Updated on Scam Tactics?
Regularly reading reviews and warnings about suspicious platforms and offers can help you avoid falling into traps.
Confused about a suspicious website or offer?
We are dedicated to uncovering and reviewing all types of scams, from social media frauds to financial schemes.
Always verify before you trust. Don’t let scammers take advantage of your trust online.