There are over 5.2 billion social media users around the world. Over 94% of the world’s internet users are on social media, and the number of users goes up every day. If you’re reading this, you likely have at least one social media account either for yourself or your business.

With so many people on social media, these platforms have become hotbeds for scammers looking to take advantage. These scams can be devastating, resulting in financial loss, identity theft, and serious emotional distress. In this article, we’ll discuss the different types of social media scams, how to identify them, and most importantly, how to protect yourself from falling victim to these scams.

Common Social Media Scams

There are countless scams that you can come across online, but some are more common than others in our current social media landscape. Here’s a quick breakdown of some of the most common scams people fall victim to on social media. 

Phishing Scams

These scams involve sending fake messages or emails that appear to be from a legitimate source, such as a bank, store, or social media account. The message will ask you to provide sensitive information, such as your login credentials or financial information. If you click a link, you may see a “real” website, but if you look closer, you’ll see that it’s not actually what it claims to be. 

Fake Profiles

Scammers will create fake profiles, often using stolen photos and information, to trick people into sending them money or sharing sensitive information. These profiles might also turn into romance scams. These scams involve building a fake online relationship with someone, often using social media platforms like Facebook or Instagram. The scammer will then ask for money or gifts.

Investment Scams

Scammers will promise unusually high returns on investments, often using social media platforms to promote their schemes. They target people who appear to be in financial distress, such as job seekers. 

Giveaway Scams

These scams involve fake giveaways or contests, where scammers will ask people to provide sensitive information or pay a fee to enter. They may also pretend to be stores doing unrealistically steep discounts. They rely on people not paying enough attention to details. These go hand-in-hand with phishing scams. 

How to Identify Social Media Scams

Knowing what social media scams are out there doesn’t always mean you’ll know how to identify them when you see them. Many people are overconfident and truly believe they can never be scammed. All it takes is the right scammer and that overconfidence will be your downfall. 

Be Cautious of Unsolicited Messages

If you receive a message from someone you don’t know, be wary of their intentions. Again, there are over five billion social media users, so it’s more than possible that a stranger with good intentions would message you, but you can never be too careful. Even if the person is already a friend, if their diction seems different or it’s unusual for them to be reaching out, consider contacting that friend elsewhere to be sure. 

Check for Spelling and Grammar Mistakes

Legitimate companies and organizations usually have professional communications. Often, poor grammar is a sign of a scammer. They may even use it to attract potential victims that don’t pay close attention. 

Verify Identities

If someone sends you an unsolicited message, check the sender’s profile and look for any red flags, such as a lack of friends and followers or suspicious behavior. A lack of followers or online content indicates a fresh new profile that isn’t being used for its intended purpose. 

Be Wary of Urgent Messages

Scammers often try to create a sense of urgency to get you to act quickly. If something seems suspiciously urgent, try to take a moment to evaluate instead of acting on impulse. 

Don’t Click Suspicious Links

If a link looks suspicious or is from an unknown sender, don’t click on it. This is especially important on a work device or any device with sensitive information on it. You can hover over the link to see where it leads, but pay close attention to the url. 

How to Protect Yourself 

So you know social media scams are out there and roughly how to identify them, but how can you protect yourself against them? Again, anyone can fall victim to common scams, but it’s easier than you think to stay safe online. 

Use Strong Passwords

This is internet safety 101. Use unique and complex passwords for all of your social media accounts. Don’t use anything too easy to figure out, such as your name, the name of your business, or dates of events that are easily found.

Enable Two-Factor Authentication

Two-factor authentication adds an extra layer of security to your accounts. It means that you need to provide two pieces of information to verify your identity, making it harder for scammers to break through. 

Be Careful What You Share

We’re in an era of online oversharing. Avoid sharing sensitive information, such as your address or financial information, on social media. You should also avoid any fun online “quizzes” that ask for information that may be used as passwords. They are often sourcing your data. 

Monitor Your Accounts 

Regularly check your accounts for any suspicious activity. Even if you aren’t an active social media user, you should log in every so often to ensure your account hasn’t been taken over. 

Report Suspicious Activity

If you suspect someone is trying to scam you, report them to the social media platform and, if necessary, the authorities. This may not go anywhere, but at least someone else will have eyes on the potential scammer. 

Keep Online Security Software Updated

Whenever your computer offers you a security update, take it. Yes, it takes a bit of time out of your day, but it’s worthwhile if it means you’ll be protected from common online dangers. It won’t protect you from everything, but it will help. 

Stay Safe from Social Media Scams

Social media is a fantastic tool for connecting with friends, finding new information, and advertising your business. However, in the wrong hands, it can become a weapon for scammers. Keep the possibility of social media scams in mind and remember how you can identify and avoid them.

Do you need help with your social media presence? At Payani Media, our team is ready to help you take your social media platforms to the next level so you can truly connect with your target audience. Reach out today to learn more about the services we have to offer.