{"id":8795,"date":"2022-02-14T22:18:37","date_gmt":"2022-02-14T22:18:37","guid":{"rendered":"https:\/\/insolvencyandlaw.co.uk\/?p=8795"},"modified":"2023-10-03T16:32:25","modified_gmt":"2023-10-03T15:32:25","slug":"how-to-avoid-social-media-scams","status":"publish","type":"post","link":"https:\/\/illitigation.co.uk\/?p=8795","title":{"rendered":"How to avoid social media scams"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"609\" height=\"432\" src=\"https:\/\/insolvencyandlaw.co.uk\/wp-content\/uploads\/2022\/02\/How-to-avoid-social-media-scams-pic.jpg\" alt=\"\" class=\"wp-image-8796\" srcset=\"https:\/\/illitigation.co.uk\/wp-content\/uploads\/2022\/02\/How-to-avoid-social-media-scams-pic.jpg 609w, https:\/\/illitigation.co.uk\/wp-content\/uploads\/2022\/02\/How-to-avoid-social-media-scams-pic-300x213.jpg 300w\" sizes=\"auto, (max-width: 609px) 100vw, 609px\" \/><figcaption class=\"wp-element-caption\">Scammers benefiting from targeted social media advertising <\/figcaption><\/figure>\n<\/div>\n\n\n<p>An increasing number of people are being duped into investing in social media scams. According to the US-based Federal Trade Commission, social media was &#8220;\u2026<em>far more profitable to scammers in 2021 than any other method of reaching people<\/em>.&#8221;<\/p>\n\n\n\n<p>When you think about it, social media is a scammer&#8217;s dream. They have access to the same advertising tools as a legitimate business, so they can targets ads at victims who:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Have a particular interest<\/li>\n\n\n\n<li>Are from a specific location, gender, or socioeconomic group<\/li>\n<\/ul>\n\n\n\n<p>Such adverts feel personal and bespoke, which makes them more likely to pique the consumer\u2019s interest. It is incredibly easy to look legitimate on social media. <\/p>\n\n\n\n<p>Buying followers is a simple process, as is quickly scraping together a shiny logo and some legit-looking copy. It might sound obvious that a quick search at Companies House will discredit these bogus companies immediately.<\/p>\n\n\n\n<p>But you&#8217;d be surprised by the amount of people who don&#8217;t do <strong><em><a href=\"https:\/\/insolvencyandlaw.co.uk\/due-diligence-the-best-remedy-for-cons-and-scams\/\" target=\"_blank\" rel=\"noreferrer noopener\">due diligence<\/a><\/em><\/strong> before handing over their money.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"h-research-before-investing\"><strong>Research before investing<br><\/strong><\/h3>\n\n\n\n<p><span style=\"color: initial;\">Social media investment prospects come in various shapes and forms including:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bonds<\/li>\n\n\n\n<li>Stocks<\/li>\n\n\n\n<li>Stock options<\/li>\n\n\n\n<li>Cryptocurrency<\/li>\n\n\n\n<li>Precious metals and stones<\/li>\n\n\n\n<li>Investment advice<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"h-3-tips-to-avoid-social-media-scams\"><strong>3 tips to avoid social media scams<\/strong><\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Limit who can see your posts and profile. Avoid scams and fake ads by opting out of targeted advertising<\/li>\n\n\n\n<li>Verify all money requests<\/li>\n\n\n\n<li>It may sound obvious, but following recent revelations made victims of <strong><em><a href=\"https:\/\/www.msn.com\/en-gb\/news\/world\/tinder-swindler-victims-gofundme-hits-c2-a3100000\/ar-AATP94F?ocid=BingNewsSearch\" target=\"_blank\" rel=\"noreferrer noopener\">Shimon &#8216;Tinder Swindler&#8217; Hayut<\/a><\/em><\/strong>: be wary of romantic connections and relationships that start online<\/li>\n<\/ol>\n\n\n\n<p>Scammers and opportunists use social media to pose as legitimate celebrities and business people. Usually, they encourage others to make cryptocurrency-related investments that promise big returns.<\/p>\n\n\n\n<p>Although these investments appear genuine and authentic, it\u2019s still astounding that so many people fall for these cons. <\/p>\n\n\n\n<p>We live in an age where anyone on social media can be whoever they want, and do whatever they aren\u2019t brave enough to do offline. So, please, think twice before allowing them into your life.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>Scam Alert<\/strong><\/p>\n\n\n\n<p>This message serves as a warning against potential online scams, including <strong>website scams<\/strong> and <strong>investment scams<\/strong>. Please exercise caution and conduct thorough research before engaging in any online transactions or investments. Protect your personal and financial information from fraudulent activities, and consult with trusted sources for advice.<\/p>\n\n\n\n<p><strong>Insolvency and Law Peter Murray<\/strong> is an award-winning consultancy firm specialising in Insolvency, debt purchasing and business rescue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An increasing number of people are being duped into investing in social media scams. According to the US-based Federal Trade Commission, social media was &#8220;\u2026far more profitable to scammers in 2021 than any other method of reaching people.&#8221; When you think about it, social media is a scammer&#8217;s dream. They have access to the same&hellip;<\/p>\n","protected":false},"author":31,"featured_media":8796,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3547],"tags":[3495,3477,3509,3511,3510,3476,3475],"class_list":["post-8795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-scams","tag-fraud","tag-scam","tag-social-media","tag-social-media-romance","tag-social-media-scam","tag-unregulated-investment","tag-unregulated-investment-scam"],"_links":{"self":[{"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/8795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8795"}],"version-history":[{"count":2,"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/8795\/revisions"}],"predecessor-version":[{"id":10815,"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/8795\/revisions\/10815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=\/wp\/v2\/media\/8796"}],"wp:attachment":[{"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/illitigation.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}