How To Guide For: A Look At The Latest Money Scams On Social Media & How To Avoid These Scams

This is a follow-up to the post from September 1 about protecting yourself from identity theft, telephone scams and online phishing. To continue on the topic let's discuss how the scammers behind the identity theft schemes are finding other new means of defrauding people. Scammers are now using social media to dupe people. There seems to be a rise in online money scams via social media sites like Instagram, Facebook, Twitter and Tumblr. Lately all over social media I have noticed that there is this money flipping scam go around. There used to be a huge Western Union money scam going on all over social media. But now it's been replaced with money flipping. So how are these scammers able to con people into this money flipping scam. Well what happens is a scammer will send you a direct message via social media asking you how would you like to make extra money without doing anything. The voice in your head tells you this is too good to be true. So you ignore the direct message but the scammer begins to explain how you can make the extra money anyway. Once you hear what the scammer has to say, your first reaction should be to delete the message immediately. But the scammer sends you another direct message saying that you should check out their social media page and you'll see all the people who've made all this extra money. You will see everyone on the scammers page waving all this money around. So once you see all these people you say to yourself well this must be legit, right but it's not. If the scammer doesn't hear from you they then will ask do you have a bank account and if you say yes the scammer then tells you that they can help you turn $500 to $5,000. But all you have to do is deposit the $500 into your bank account and then they can somehow turn that into $5,000. Just to let you know that these scammers prey on desperation. If something doesn't feel right or seems too good to be true then it probably is. I know things can get hard and money can be tight sometimes but never believe anyone who tells you they can give you money for free or anything for free and you've never met them or talked to them. Nothing in life is free, so don't fall for these money scams. When in doubt just delete these scammers and if that doesn't work block the scammer. To learn more about the latest money scams on social media and how to avoid these scams -- click the pictures below to read the articles.