Social Media Scams?
Each holiday season you can count on social media scams showing up in some form or another. These days, scams come in all shapes and sizes. Fraudsters use social media sites to advertise various scams to a large audience. Posts might include anything from investment opportunities to items or services for sale. They will also send direct messages/emails/texts, even phone calls to people trying to extract money or personal data which can then be used to access bank accounts and cards.
Examples: Social media gift exchange scam revolves around:
- exchanging bottles of wine
- purchasing $10 gifts online
- submitting your email into a list where participants get to pick a name and send money to strangers to "pay it forward."
- "Secret Santa Dog" where you buy a $10 gift for your "secret dog."
In all of these versions, participants unwittingly share their personal information, along with those of their family members and friends, and are further tricked into buying and shipping gifts or money to unknown individuals.
"Secret Sister" is a social media scam that has been going around for the last couple of years. Facebook users recruit “sisters” with the promise that they could receive up to 36 gifts. They are required to buy a $10 gift for a stranger on the internet. You have to provide your name, address and email, which opens the door for identity theft. Then recruit some of YOUR friends to join.
If you think it sounds like a pyramid scheme, you’re right. This scam has been identified by the Better Business Bureau, which released a statement describing the scam and why it is illegal. You can read this .