Social Media Fraud: Social media platforms have become integral to our daily lives, providing a means for communication, information sharing, and networking. Fraud can manifest on these platforms in various ways. Common scams include phishing attempts through fake profiles or messages, identity theft, and fraudulent schemes enticing users to click on malicious links.
How Fraud is Manifested:
Fraud on social media platforms can take the form of fake accounts impersonating reputable individuals or organizations, aiming to deceive users. Additionally, scams may involve fake promotions, contests, or offers designed to trick individuals into providing personal information or financial details.
How to Detect Fraud and Avoid:
To detect and avoid fraud on social media, users should be cautious of unsolicited messages or friend requests, especially if they seem suspicious or too good to be true. Verify the authenticity of accounts, look for official verification badges, and avoid clicking on unknown links. Regularly review privacy settings and be mindful of the information shared publicly.
What to Do After Falling Victim, Take the Following Steps:
- Secure Your Account: Change passwords immediately and enable two-factor authentication to secure your account.
- Report to the Platform: Report the scam to the social media platform. Platforms like Facebook ⊗, Twitter ⊗, and Instagram ⊗ have reporting mechanisms for scams and impersonation.
- Educate Contacts: Inform your contacts about the scam to prevent further spread.
Education:
- 10-21-2020 – FTC – Scams that start on social media ⊗
- 01-25-2022 – FTC – Social media a gold mine for scammers in 2021 ⊗
- 01-27-2022 – FTC – Conned on social media? It’s not just you ⊗
- 03-16-2023 – FTC – Issues Orders to Social Media and Video Streaming Platforms Regarding Efforts to Address Surge in Advertising for Fraudulent Products and Scams ⊗
- 05-03-2023 – FTC – Proposes Blanket Prohibition Preventing Facebook from Monetizing Youth Data ⊗
- 05-03-2023 – FTC – Statement of Commissioner Alvaro M. Bedoya in the Matter of Facebook, Inc. ⊗
- 09-14-2023 – FTC – Staff Paper Details Potential Harms to Kids from Blurred Advertising, Recommends Marketers Steer Clear ⊗
- 10-06-2023 – FTC – Data Shows Consumers Report Losing $2.7 Billion to Social Media Scams Since 2021 ⊗
- 10-06-2023 – FTC – Social media: a golden goose for scammers ⊗
- 11-15-2023 – FTC – Slow your scroll: Spot and avoid social media giveaway scams ⊗
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