People are losing millions of rupees due to money scam on social media, know what are the ways to avoid

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Money Scams on Social Media Keep in mind that any social media platform does not ask for bank details or payment to keep the account active. (Pic pixabay.com)
Money Scams on Social Media Keep in mind that any social media platform does not ask for bank details or payment to keep the account active. (Pic pixabay.com)

As the use of digital technology in money transactions has increased, the cases of money scam through digital mediums have also increased. Money scams cases are also continuously coming out through social media. Social media remains an integral part of a person’s life in this digital age. With the rise of smartphone users, the number of people using social media platforms has also increased rapidly. Being a virtual medium, fraudsters are using these platforms for money scams. Let’s know how money scams are happening through social media and how to avoid it.

Fake profile

In such a scam, the fraudster first creates a fake profile on the social media platform of a user exactly and the user whose friend profile is created sends a friend request to the people on his friend list. Now through fake profiles, messages are sent to the user’s friends about the emergency of money on Messenger. Real demands of the user’s money transfer money to the account of the fraudulent person and become a victim of money scams. In this type of fraud, fraudsters also create fake accounts on payment apps in the name of the user.

Cat fishing

In this, the fraudster creates a famous or attractive profile. According to the cyber expert Priya chain, fraudsters fraud by adopting an adult chat, relationship, or gift exchange. At the Gift Exchange, a fraudster calls a person by becoming a fake Custom Duty Officer and says that his gift is stuck at the airport due to a lack of payment. At the same time, a person is blackmailed by making adult chat or relationship records. He is then asked to transfer payment or ask for bitcoins.

Photo of scam

In this, fraudulent social media chats send messages such as ‘your attractive photo with a URL’ or ‘click to check your photo’ on Messenger, email, or SMS. Clicking on the URL installs Trojan / Both by asking to install Adobe Flash for graphics or install other supporting software. This transfers private information of your system or mobile and then leads to fraudulent money scams.

Account closed or suspended scam

In this, a fraudulent social media representative warns the user to close or suspend his social media account for a lack of identity. According to the Priya chain, after this, the user is asked to verify his ID by entering his personal information and bank details. After getting the user’s personal information, fraudulent scams take place.

Greed for special facility

In this type of scam, the customer is lured by a special facility. Advertisements or mails are sent to the customer like ‘Know who has seen your profile’ or ‘Know who has seen your mobile number’. In lieu of this facility, the fraudster asks the user for his personal information and then performs the money scam.

Lottery & Gift Card Scam

In this type of scam, messages are sent to the user on social media platforms to get lottery or free gifts. According to the series, many times these messages are sent to the customer by e-mail, SMS, or call. Here the fraudster also asks the user for his personal information and bank details. After this, the fraudster sends OTP in the name of mobile verification and empties the account of the person committing the banking fraud.

These are ways to avoid

1. Do not share OTP on account verification call for a lottery, gift, or anything.

2. Do not save your personal information and banking password on mobile.

3. Avoid posting sensitive personal information on social media.

4. Do not click on the URL from an unknown source.

5. Always download the software from that company’s website.

6. Get complete information for membership or AIDS on social media and pay on that media only. Do not click on e-mail / SMS for any special facility.

7. Keep in mind that in order to keep any social media account active, the bank does not ask for details or payment.

8. Avoid logging on to any free chat website or another game website through your social media.

9. Do not allow call / SMS / Gallery access if you install a game app.

10. Do not transfer money to anyone on the basis of information received through social media without talking on the phone.

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