That random friend request could be from a cybercriminal…
Cybercriminals are aggressively using social media platforms to deceive and scam unknowing individuals.
Most people are connecting with their friends and family on social media. Unfortunately, cybercriminals are also using these social platforms to trick you into giving over your personal details…and there are many ways they are doing so.
Romance scams and Giveaway or contest scams seem to be amongst the most popular scams being perpetrated via social media platforms.
In 2021 Australians lost 56 million to romance scams Scamwatch
Romance scammers set up fake profiles and connect with everyday individuals. Typically, these scammers begin their interactions by mentioning something they have seen on the person’s social media account. They then swiftly move the relationship along, but will never meet in person, before asking for a sum of money due to a devastating circumstance. It may surprise you; we always think we would never fall victim to these sorts of scams, but unfortunately, many people are losing substantial amounts of money to these types of scams. Scammers may also try to steal a person’s social media identity to pose as them.
Giveaway or contestant scams typically start by asking you to like a page or comment to build their credibility. They then ask you to click on a link to a page to enter your personal details which they steal. In other cases, the link connects to malware software, which once clicked on will automatically download onto the person’s device.
Other ways cybercriminals use social media to scam the unsuspecting
This is where a fake business profile and website are set up selling exceptionally cheap products. In many cases, you will never actually receive the goods you order, or they are of very poor quality. In some cases, these fake traders run competitions or surveys to obtain your personal information.
This is where scammers scour social media to look for personal information. Because so many people share every detail of their life including their birthday, full name, marital status, and location, it is not hard for a scammer to find this information and try to access your bank accounts or set up loans or credit cards in your name.
This is where scammers run ads on social media or contact you directly offering you the chance to make quick money if you allow them to deposit cheques into your account. The scammer will then drain your account or deposit the stolen cheque into your account, which could then tie the unsuspecting individual to fraud.
Even though the methods are varied, the basic motivation of these scammers is to steal your personal information and in turn, steal your money. Even investment scams are being advertised through social media platforms, in particular cryptocurrency scams. Social media platforms provide scammers with the opportunity to target millions of users in the same way advertisers would use them to target their customers. These scammers will often use pressure tactics and a sense of urgency.
One thing you can do to protect yourself from these scams is to be vigilant with your finances. Scan your online bank accounts and credit card accounts regularly looking for suspicious transactions. BankVic also has systems for detecting fraudulent account activity, and will always call a member to discuss any suspicious activity
- Be mindful of how much information you share on these platforms, especially personal information or anything that could be used against you or your family.
- Regularly check and review your privacy settings for each of your social media accounts.
- Be wary of surveys and competitions online—they could be scams.
- Disable location services and avoid ‘checking in’.
- Be mindful about who you become friends with online and what information you share with them.
- Be skeptical if you’re asked to send money. Transferring funds to someone you only know online could mean the money’s going towards criminal activity.
- Check a seller’s reviews before buying online. Checking a seller’s reviews is a good indication of how reputable their business may be.
- When being redirected to a website through social media, always check that the website’s URL (for example, www.example.com.au) is the same as the official website of the business.
- If a product you have ordered doesn’t arrive, and you are unable to reconnect with the seller, contact your bank or financial institution ASAP.
Furthermore, if you have received a friend request from someone you don’t know. Look out for the following signs and do not accept.
Warning Signs to Look out for
- Newly created profiles with limited content.
- Profiles with hidden friend lists or friend lists full of people of the opposite gender.
- Profiles that read like a description you would find on a dating website.
- Profiles with grammar and spelling errors.
- A profile you thought you were already friends with – is it a cloned account?
If you have fallen victim to a social media scam, contact your financial institution immediately, change your passwords and contact the police. You can also contact the ACCC to make a report about any scams you have encountered, to help alert others to the current scams to watch out for.
