Social media sites and apps have become a major part of most of our lives. In fact, more than half the world’s population are active on social media. Despite all they offer for connectivity, convenience, shopping, and more, there are several downsides to almost all social media platforms. They unfortunately create easy targets for scammers or hackers to prey on unsuspecting users. From phishing campaigns to fake job postings, social media scams are a threat every user must be made aware of. Knowing the top online fraud tactics and learning how to avoid falling victim to online scams are more important than ever before.
Understanding Social Media Scams
The term social media scams pertain to fraudulent schemes that affect social media users. They are often targeted to hijack sensitive personal information, steal money, and even people’s identities. These scams are often highly sophisticated and hard to spot. Scammers will take advantage of the trust and openness that many feel with social media platforms like Instagram, TikTok, X, Facebook and LinkedIn.
Why Are Social Media Scams So Common?
So, why are social media scams so common? Well, social media scams are prevalent for several reasons, however a major reason is due to the ample opportunities on them. With billions of active users, these apps and websites offer a huge collection of potential victims. Many users, especially teenagers and senior citizens, are less cautious and less familiar with these sites. Additionally, scammers benefit from the anonymity these platforms offer. It’s very easy on many platforms to create fake accounts or profiles and then disappear after perpetrating fraud.
Top 5 Current Social Media Scams
Social Media Phishing Links
One of the most common social media scams involves phishing. Hackers will send direct messages or posts that lead to fake websites. These fake websites are designed to steal your login credentials, personal and store your personal information such as bank account details, social security number, and more.
Phishing scams typically start with a user receiving a message from someone that claims to be an official representative from a company, or from a friend or family member. The message will direct a user to click on a link, maybe to login or submit your information. This is when the fake site will capture your information and the hacker can use them for many nefarious purposes. Recently, a fake Instagram support message scheme was uncovered, where scammers were tricking users into give up their log in details, leading to account takeovers.
To prevent social media phishing scams, avoid clicking on suspicious or unsolicited links. Always verify the sender’s identity, and use two-factor authentication (2FA) to secure your accounts. Look for signs of phishing, such as poor grammar or mismatched URLs.
Fake Giveaways and Contests
Fake giveaways and contests are a very common social media scam. They function by influcing users into providing personal information or paying fees to claim prizes. These scams often appear as posts or ads social media networks, promising free products or cash prizes in exchange for liking, sharing, or filling out a form. Ultimately, no prizes are ever delivered to the victims.
Proceed with caution regarding giveaways that require you to share your sensitive information. Check the authenticity of the giveaway first by visiting the company’s official page. And remember, legitimate companies will never require you to submit payment to receive prizes. For instance, a recent viral giveaway scam on Facebook promising a Tesla prompted victims to buy $500 in Apple gift cards to activate their winnings.
Imposter Accounts
Scammers and hackers will create imposter accounts to trick users into gaining their trust. These fake profiles often impersonate users’ friends, celebrities, or companies to exploit them. These fraudsters are excellent at replicating existing profiles, complete with photos and posts. They’ll send friend requests or DMs asking for money and to share personal details.
To ward off falling victim to a scam featuring imposter accounts, take the time to check for duplicate accounts, as well as look for inconsistencies. If the account seems to be someone you know personally, contact them directly through another form of communication and ask them about the message you received. Instagram has had a major problem with imposter accounts in the past, specifically with fake brand accounts. However, Instagram does work hard to remove them off the platform once they are made aware.
Job Offer Scams
Social media platforms like LinkedIn are prime targets for job-related scams. Job offer scams are when scammers promise lucrative job opportunities in exchange for payment or the sharing of personal data. These scams will often begin with a message about a too-good-to-be-true job opportunity. The scammer asks for a fee to process your application or for your personal details to finalize the process.
To prevent job-related social media scams, research the company and verify the job posting before you go through with the application. Try to avoid paying a fee for a job application. Always be cautious of jobs that require no qualifications and simultaneously offer a high wage. Fake recruiters on LinkedIn have targeted users in the past with very high-paying jobs, charging large application fees.
Romance Scams
Romance scams will usually start on dating apps like Tinder or OKCupid. However, they can and do occur on social media networks. Romance scammers will take advantage of your emotions to gain your trust and eventually steal your money. They’ll create fake profiles, sometimes with AI images of non-existant people, in order to start relationships with victims. They’ll wait until an emotional connection is established before asking for money or seeking favors.
To avoid romance scams, be doubtful of individuals who avoid in-person meetings or video calls. And remember, never send money to someone you’ve only met online. There is a tactic you can use called reverse image search, where you can verify profile photos and other images show in their profiles. A scammer posing as a military officer befriended a victim on Facebook and requested money for travel expenses.
How to Protect Yourself: Preventing Social Media Scams
To enhance your security, upgrade your privacy settings and take control of who can view your posts and bio. Limit the visibility of your friend list and regularly review and update your privacy preferences. Be skeptical of unsolicited or suspicious messages, especially those promising rewards. Double-check URLs before you click to avoid phishing sites. Use identity theft defense services like Mozo to ensure your identity remains protected.
Take the time to learn about the latest scams and share your findings with friends and family. If you ever encounter suspicious profiles, posts, or messages, report them to the social media network’s support team right away. You can also inform your local law enforcement agency as they might have an ongoing investigation into the scam.
The Role of Platforms in Combating A Scam on Social Media
Social media companies are taking notice of these scams and do implement measures to combat the fraud. Many are using AI monitoring to detect and remove fake accounts, bots, and common scams. Many networks will also provide users with education on how to identify and avoiding scams. Fraud reporting tools also allow users to flag suspicious activity quickly.
Key Takeaways for Preventing Social Media Scams and Top Online Fraud Tactics
Being cautious of unsolicited offers or messages and protecting your personal information are vital actions to take in preventing social media scams. Use strong passwords, enable two-factor authentication, and stay informed about current social media scams to recognize red flags. Reporting suspicious activity helps protect yourself and others if you do fall for a scam on social media.
