Social media has transformed the way we communicate, allowing people to connect with each other around the world. However, with the rise of social media, online financial fraud has also become a serious concern. In this article, we will discuss how scammers use social media to scam people and offer tips on how to protect yourself from these scams.
Fake social media accounts
Fraudsters create fake accounts on social media that look exactly like the original account, with different follower counts and followers. These fake accounts are used to send messages to the original account holder's followers, asking for money through various payment platforms like Google Pay, PhonePe, Paytm, Cred, Net Banking and others. They often use sad reasons like medical emergencies, hospitalization of family members or accidents to arouse sympathy and convince people to pay.
Protect yourself from fraud on social media
To avoid falling victim to such scams, it is essential to be cautious while using social media. Always do your due diligence before accepting a friend request and never click on links sent by unknown individuals. If you suspect that someone’s social media account has been hacked, inform the victim immediately. Do not share your credentials or any one-time passwords with anyone. Never pay anyone for “help” based on social media requests. Let the recipient call you on your phone and then you can decide whether to help or not.
Increasing social media security
It's important to increase the security of your social media accounts to prevent any unauthorized access. This includes updating your passwords regularly, using a strong password that combines numbers, letters, and symbols, and avoiding sharing your password with anyone. You should also enable two-factor authentication and update your privacy settings to limit the visibility of your personal information.
Report Fraudulent Activities
Finally, if you encounter any fraudulent activity, report it to the cybercrime department immediately. You can also report fraudulent activity to the social media platform where it occurred, as they often have specific teams dedicated to dealing with scams and fraud.
Full article written by Ravindra Poojary IN LinkedIn