Fraud Week 2017 - spot social media scams


Can you spot a social media scam?
In 2016 more people than ever reported to the ACCC that they lost money to scams through social networking sites. In 2015 $3.5 million dollars was lost to social media scams. In 2016, more than $9.5 million was reported lost.
This National Consumer Fraud Week (15–19 May), the Australasian Consumer Fraud Taskforce is providing information to help social media users learn how to spot scams.
Two common scams you might encounter while using social media are dating and romance scams and fake trader scams.

Dating and romance scams

Dating and romance scams on social media cheated Australians out of more than $7.5 million in 2016. Social media is now the most common contact method used by romance scammers.
Romance scammers on social media create fake profiles using other people’s photos and then send out many friend invitations in hopes of finding a catch. Scammers are using social media because, like dating sites, people share a lot of information about themselves on their profiles – this allows scammers to shape their approach to appear more genuine.
If you receive an invitation on social media out of the blue, there are a number of signs to look out for which should help you spot dating and romance scammers.
Dating & romance scams

Fake trader scams

Scammers also often advertise their fake websites and products on social media. Fake traders advertise their fake products through social media just like normal businesses, using ads or posts. These products will always be discounted, attractive offers. The ads will direct you to a website where you can make the purchase but nothing turns up or a fake product arrives.
Fake trader scams

Protect yourself

It can be hard to tell the difference between genuine profiles or ads on social media and the fake profiles or fake traders you may encounter. So here are some tips for staying safe and spotting social media scams:
  • Check the profile of new friend requests, especially if you have only met the person online. Look out for:
    • new profiles with limited content
    • hidden friend lists or friend lists full of people of the opposite gender
    • profiles that read like a dating profile
    • grammar and spelling errors.
  • Don’t send money to someone you’ve never met in person.
  • Be cautious when sharing personal pictures or videos with someone, especially if you’ve never met them before in person. Scammers are known to blackmail their targets using compromising material.
  • Check reviews before buying online. Try to find how reputable a seller is by searching for reviews.
  • If the product doesn’t arrive, contact your bank or financial institution as soon as possible.
  • Check the website URL (for example, www.example.com.au) that you are redirected to is the genuine website of the trader.
  • People may be able to see more about you than you realise on social media. When you use social networking sites, be careful who you connect with and learn how to use your privacy and security settings to ensure you stay safe.
  • If you have been scammed online, take steps to secure your account and be sure to report the conduct to the platform.
Source: ACCC - Scamwatch