The popularity of social networks like Facebook and Twitter
along with social media tools like WhatsApp and the like also continues to
attract crooks and organized crime groups around the world. After all, these
online communities and apps provide them with the right set of tools for
reaching their intended victims and for baiting them to their cyber traps
through their online fraud tactics and social manipulation schemes. Plus, the
penetration of mobile devices and the adoption of the mobile Web across countries
and areas that didn't have quick and easy access to Internet resources
previously have significantly contributed to the access of these bad elements
to more victim groups.
During the first few months of this year, reports of new
online fraud tactics and schemes have been published by a lot of users in sites
like BigScammers.Com. WhatsApp users complained about unknowingly taking part
in distributing an online scam that involved a fake offer for free Internet
connectivity. This is where users are enticed into doing a set of things to get
free Internet access without any wireless network. As technically impossible as
this might sound, a lot of non-tech savvy users in the USA and in other regions
of the world were victimized by this scam.
This online fraud is integrated with a viral distribution component where users are fooled into sharing a deceptive message for their
contacts to also participate in this Web scam. They were asked to do this
before they can access the instructions for getting the fake offer of free
Internet access for life.
Other Forms of Online Fraud in Social
Networks This Year
First reported at the beginning of 2017, money flipping scams
continue to be promoted throughout wildly popular social networks like
Facebook, Instagram and Twitter. This online fraud is disguised as lucrative
money making opportunities that don't require huge financial investments.
Scammers tell users that they have contacts in the upper executive positions at
global financial institutions.
They claim their contacts have recently uncovered a way to
exploit a bug in the current financial processing systems of banks, credit card
companies and other smaller organizations. They trick users into believing that
they can earn as much as ten times their investments in a matter of days. Of
course, the authors of this online fraud make this scam more believable by
telling their intended victims that they don't accept investments sent from
credit cards or online bank transfers because they're looking after the
security of everyone who wants to participate in this fake investment scheme.
They say the anonymity and security that their victims can
get from these financial instruments are the main reasons why they recommend
their target users to purchase prepaid debit cards, gift cards and moneypacks
to buy into this investment deal. What they don't tell unsuspecting users is
that these are non-refundable purchases, and transactions made using these
cards and money packs are irreversible. So, when they ask victims to hand out
the details of their cards and moneypacks - They can run away with the money of
their victims, scott-free.
To avoid similar online fraud tactics
and schemes that are being proliferated across social networks and chat
applications - You should always keep in mind that if anything's too good to be
true, then it probably is. The next thing you should do is to learn about the
newest scams on the Internet and the latest fake offers that are making its way
in mainstream social media. When you sign up at BigScammers.com, you'll get
real time alerts and instant notifications about the most recent Web crimes and
online fraud schemes today straight in your email inbox.
