Beware of Social Media Scams!

1 min read

Saw a really great deal on a computer or smart phone while scrolling through your social media page?

Be careful! Several people have been falling victim to various social media scams and, therefore, you must be alert and cautious when shopping or doing any transaction with a person or business on social media sites or other websites.

Many scams generally involve the offer of high-end cell phones and gadgets at low prices. Fraudsters use social media platforms, such as Instagram and Facebook to advertise their products, and usually request payment via deposit to a bank account.

Once the deposit is confirmed, the victim is usually blocked from the social media page, preventing them from making contact.

Fraudsters have increased the suite of products offered on their social media pages to include hair/ wigs, clothing, healthcare products and they are also offering employment opportunities.

Additionally, do not rent or lend your account to anyone. If a friend or family member asks to deposit/ send funds to your account, ensure that you obtain evidence as to the source of the funds.

Do not be a conduit for fraud or money laundering.