Life is not only beautiful photos and hilarious short videos presented on Instagram. It also means it is a place where fraudsters aim to defraud you of your money. Most of these tricky temptations pertain to fake borrowing marketing. Some of these scams include fake single loans, which require the victim to fill in a form to “borrow” a certain amount of money without paperwork, or through vanity loans with low interest rates. More often, they pose as friends or other businesses needing assistance with what they call ‘“emergency’” transfers. Others may lead you to click malicious links to confirm your account or congratulate you on winning a lottery.
Let’s make Instagram a more secure social application for everyone. By making ourselves and others aware, we deny fraudsters a chance to defraud. It is a good time to look over our shoulders and ensure we do not scare one another off the platform. Read on to find out how to identify such cons, how not to become a victim, and how to pass on the information to the Instagram team to make the social network a scam-free platform.
Loan schemes
Loan scams tell you they will deliver cash quickly without any complications—another trickster’s promise you can get free money within the next couple of hours. There’s a thing called an instant loan. They lure you with the offer and ask you to pay a small amount of money as an advance fee. They could claim it for computation or insurance.
Gregory Allen, the CEO of ASAP Finance, a trusted lending company, says, “Such frauds may be particularly aimed at people who require money desperately. They clone websites, emails, or text messages to appear original. It is always important to take some time and research the lenders. No genuine lender demands charges before extending a loan to a borrower.”
Phishing
Phishing scams are tricky. They usually arrive as messages that appear to be from someone you know, like your bank or your favorite brand. These messages may request your identity, for instance, your password or account information, to complete a payment. The objective is to steal your hard-earned cash or even rip off your identity.
„They can be through the mail, in a text message, or even be posted on social media. The message often appears to be important. You are told to download a file or reply as soon as possible. We suggest verifying the sender’s identity before providing any details,” say the Multi-State Information Sharing and Analysis Center experts.
Other Types of Instagram Scams
There are many other Instagram scams you should be aware of and avoid. They include:
Romance Scams
People from all over the world have fallen victim to romance scams via Instagram. Most of them are scams featuring pictures of beautiful people lifted from other social networks. The scammers attempt to create an online rapport with their targets through this process. After gaining your confidence, they demand money, telling you it is an emergency or for some other necessary reason. They usually manage to persuade the victims to send large amounts.
Lottery Scams
Lottery scams on Instagram are becoming common. Scammers tell you that you’ve won a big prize. They might ask for personal info or money to claim it. Often, the lottery scam message looks official, with logos or fake accounts. But real lotteries never ask for money upfront. If someone tells you that you’ve won a prize out of the blue, it’s probably a scam. Always double-check the source and avoid sharing sensitive info. Don’t click on suspicious links. Protect your accounts with strong passwords and report scams to Instagram.
Job Scams
Job offers on Instagram are increasingly fake. Fraudsters, with the intent of defrauding people, most of the time parade fake job offers. They offer good pay and expect their workers to deliver little work in return. They may request your details and or charge you an upfront cash amount. Find and read information on the company’s website and other reviews. Do not transfer money or provide any form of identifier to a stranger. If ever something sounds too good to be true, it probably is.
False Investment Scams
Fake investment scams declare high returns on investment amounts with marginal risks. Often, such fraudsters employ fake celebrities or even extraordinary-looking websites to give the impression that they are genuine. Fake investment scams demand you pay cash in advance, insisting you will be filthy rich shortly. But after you pay, you find they have disappeared with your hard-earned cash. As usual, avoid displaying the get-quick-rich syndrome by being careful with accounts that show “gifts” for doing a few tasks. Never give your details or transfer any amount of money to a stranger. Save money and report scams when noticed. Never shake off your instincts when something is not right.
Cash Flipping Scams
Fake check cashing scams advertised through the social media platform Instagram involve false, fast cash in exchange for a little of the user’s money to someone else. Check cashing scams tend to use attractive dollar bill images or other expensive things and fake life stories. They may utter, “Invest $100, receive $500 in cash, or switch your money within 24 hours.” Always send the money once you will not get it back again. The scammer may either block you or demand more from you.
Paid Subscription Fraud
Paid subscription fraud involves fraudsters convincing people to make payments for services or content that is not genuine. It might present some special posts or users’ profiles, but once you become a member, there is no actual coverage. These paid subscription frauds are usually disguised as holders of fake advertisements or public relations accounts. The scammers also offer additional privileges, such as a special post, a shoutout, or a direct chat. Once you pay, they disappear. Everyone should protect their account from fraudsters by reporting any strange activity.
Building a Scam-Free Instagram Community
The best way to make an anti-scam Instagram community is by cultivating a sense of trust along with information. Instagram began with an overview of basic elements of scam identification, such as accounts that give the impression of a get-rich-quick scheme or offers that cannot be true to life. As you follow or post comments on an account, double-check to ensure it is the right person or company. One way you can do this easily is if the profiles have a blue verified badge or are authentic.
Urging people to “flag” suspicious accounts can also be a great idea in the fight against fake profiles. Using hashtags that would ensure safeness and truth as manners from your content is advisable. Never reveal your identity, social security numbers, or account numbers or fall prey to forged Web links.
