Fraudsters use social media sites to advertise various scam to a large audience, posts might include anything from investment opportunities to items or services for sale. They will also send direct messages to people trying to extract money or personal data which can then be used to access bank accounts and cards.
These are some examples of the types of scams that have appeared on social media sites:
- Cryptocurrency scams - Fraudsters cold call and advertise ‘get rich quick’ investments in mining and cryptocurrencies on social media. Victims sign up to cryptocurrency investment sites and part with personal details to open a trading account. In some cases, victims realise only after the website has been deactivated and suspects can no longer be contacted, that they have been defrauded.
- Free tickets/vouchers scams - beware posts or messages claiming to offer 'freebies'. Fraudsters are circulating messages claiming supermarkets and other companies are giving away vouchers and tickets. Those clicking on links will often find themselves directed to a bogus website or in contact with a fraudster.
- Personal data - fraudsters can collect your personal data from your social media pages and use it to clone your identity. Make sure you set your privacy settings so that strangers cannot see your posts or look at your data.
For more advice on protecting yourself from fraud or to report fraud visit: the Action Fraud website