From fake charities to phishing scams, giveaways and even posing as a friend - cybercriminals are always finding new ways to steal from unsuspecting social media users. Their attempts see them trying to obtain account login credentials or personal information - with the ultimate goal of obtaining bank and credit card details.
With millions of active social media users across the world, fraudsters have a vast pool of potential victims to target. On Facebook, scams often take the form of fake links or prizes designed to obtain personal information.
On Instagram, scammers will often set up fake investment offers - promising great returns for a small investment. They may also offer to pay in return for promoting their products.
Here are the most common scams currently found on Facebook and Instagram, according to cybersecurity expert Liz Wegerer from VPNOverview.com:
- Phishing scams: Emails or direct messages with sketchy links that download malware or capture login credentials on spoofed websites.
- Romance: Friend requests and direct messages that attempt to create a romantic interest with the goal to steal money from the victim.
- Prizes or job offers: Claims designed to obtain personal information or money from the victim, including “You’ve won!” scams.
- Quizzes and games: Designed to elicit personal information in the answers through the kind of information people may use to create passwords or answer security questions for their online accounts.
- Charity pleas: Creating fake charities to get donations during times of disaster, using sites like GoFundMe.
- Fake investment offers: Scammers promise you a great return for just a small investment.
- Bogus brand collaboration requests: Fraudsters offer to pay you for promoting their products then steal your financial data when you provide them.
- Selling followers and likes: Ask you to pay a nominal fee in exchange for like or follow packages, but your financial data gets stolen when you send financial details.
- Giveaways: Entice you to try and win a prize, but then you will be asked to provide personal information or payment to claim your winnings.
- Imposter brand accounts: Sell counterfeit goods (or never deliver the promised goods at all) under the guise of a popular brand to drain your bank account.
How to avoid scams on social media
1. Lock down your privacy settings
Your Instagram is set to “public” by default, allowing anyone to see your posts. To protect your privacy, set your account to “private” so only followers you approve can see your posts, make comments, and send you direct messages. On Facebook, while you can never hide your profile pictures or cover photos, you can hide almost everything else from those outside your friends list through your settings.
2. Use strong passwords and enable two-factor authentication
One of the easiest ways to prevent unwanted logins on your accounts is to use strong passwords and enable two-factor authentication. With this in place, anytime someone tries logging in from an unrecognised location or device, they will also have to enter a one-time code in addition to your username and password sent to your phone.
3. Keep track of third-party apps
Over time, you have likely connected several third-party applications to your Instagram account. You should regularly review these applications to ensure no suspicious connections have been made and delete any you do not recognise or no longer use.
4. Only buy from verified profiles and brand accounts
Before you buy anything on social media, check to make sure the account you are dealing with is verified. All legitimate brands on Instagram and Facebook are verified with a blue circle checkmark next to their name.
5. Search regularly for accounts in your name
To avoid the damage of someone cloning your accounts and using these fake accounts maliciously, get into the habit of regularly searching Facebook and Instagram for your name. This only takes a minute and is an easy way to identify and report impostor accounts.
6. Decline friend requests from anyone you do not know
Get in the habit of declining friend requests from anyone you are not familiar with. The more friends you have that you do not know, the higher the risk you will be approached with a scam.
7. Never click on suspicious links sent to you or respond to unsolicited messages
Whether it is a phishing email or a private message from a friend, avoid clicking on unsolicited videos or links. If you think a friend sent you something, double-check with them before clicking. Especially when what they sent you involves compromising information about you or says something like, “OMG! Is this you?” or “Have you seen this yet?!”.
