Gift cards are a popular and convenient way to give someone a gift. They’re also an increasingly common way for scammers to steal money from you.
Over the last few years, social media scams have exploded, with fake Twitter and Facebook profiles increasing by 100% in just one year. That also means there are several types of social media scams, most which involve a phishing scheme component.
Here’s how it happens: Scammers try to “friend” you by creating a bogus profile or cloning the profile of someone you know. Then, they’ll get you to share personal information by asking you random questions. Meanwhile, you’re unknowingly giving away the security questions for your personal passwords. By the time you realize what’s happened, it’s too late. Other social media scams involve fake offers and promotions. To get your hands on the goods, though, you’ll first need to share your personal information.
In another scam, fraudsters reach out to you while impersonating Louisiana FCU. They’ll claim to have incredible rates on loans. And, if you apply for this “loan,” the scammers might empty your accounts or trick you into making upfront payments to qualify. Here’s how to spot, prevent and react to social media scams: