Skip to main content

Know When to Scroll: Avoiding Instagram & Social Media Scams

Summary Social media makes it easy to connect, but it also creates opportunities for scammers. Learn how to recognize social media fraud before it impacts your finances.Key Takeaways
  • Fraudulent giveaways and investment offers are common.
  • Be cautious when sharing personal information online.
  • Verify accounts before engaging with offers or promotions.
  • Report suspicious activity when you encounter it.
With over 500 million daily active users, Instagram has become a popular app for sharing photos, connecting with friends and even following the lives of celebrities and influencers. But where there are lots of users, there are also – you guessed it – scammers looking for opportunity.So while you’re scrolling, liking and sharing, keep these 3 common Instagram scams in mind:

1. FAKE PRODUCT AND SHOPPING SCAMS

See an ad for a popular, name-brand item at a low price? Before you click that ad, know that many scammers use social media to promote fake products to steal your personal information – even appearing to have lots of followers to make them seem legit.Pro tip: Go directly to the brand’s website instead of clicking the link. Many times websites will even have their social accounts linked in their website footer.

2. INFLUENCER SCAMS

While there are lots of real influencers on social media, some of them are made to scam you into fake investment opportunities or “get rich quick” deals. If their profile looks “off” (for example, having a huge following with a low engagement rate) or the products they’re promoting don’t seem real, it’s likely a scam. And remember, scammers love to use pressure tactics and encourage you to act quickly. Take a step back and ask yourself if the deal or promotion seems too good to be true.

3. PHISHING SCAMS

On social media, this common fraud tactic usually comes in the form of an email or direct message (DM) alerting you that your account is in danger and hoping you'll click a link or call to provide personal info. Remember, Instagram will never DM you about your account. You can also see official Instagram emails sent in the last 14 days in your settings.And while these types of scams are common on Instagram, they could happen on any social media platform. Always take caution before you engage and share.If you think you’ve been a victim of an Instagram or other social media scam, reach out to your financial institution right away. Summit members, contact us at 800‑236‑5560.We appreciate you sharing details with us when you hear of, or experience, a possible scam! This helps us inform and protect our members and community.

Want More Fraud-Fighting Tips?

Keep exploring more ways to  Sources:
SocialPilot 
Norton You might also be interested in Stay alert: Scammers are impersonating Summit with increasingly convincing tactics. Learn the red flags and protect your information... Fraudsters are posing as the FBI or major companies to steal money—never send cash or wires to unknown callers... Summary Unexpected messages can be more than an inconvenience—they can be a scam. Learn how to spot phishing attempts and make confident decisions before... Summary Tax season creates opportunities for scammers looking to steal personal and financial information. Stay alert and protect your identity by recognizing... Hosting dinner parties. Heading to your in-laws’. Hustling to order those perfect gifts. It’s the season for cheer and goodwill, and unfortunately also... Scammers are getting better and better at making fake links look legit. So before you click on that URL (the string of letters that makes up a web address)... Hey there, fellow fraud-fighters! Have five minutes to bust some common myths about scams? Because the more you know, the more you can stop fraudsters... Summary Your Social Security number is one of your most valuable pieces of personal information. Learn how scammers try to access it and what you can... Summary Artificial intelligence is creating new opportunities—and new risks. Learn how scammers are using AI tools and stay ahead. Key Takeaways AI can...