Social media fraud

The proliferation of social media has profoundly changed our lives and made the world a more connected place. With over 3.7 billion active users worldwide and constantly new platforms emerging, social media has become an integral part of our everyday lives. The flip side of the coin is that cybercriminals are also taking advantage of this development and are constantly developing new methods to deceive and defraud users. The VSZ tells you how you can protect yourself.

Unfortunately, the exponential growth of social media has also led to an alarming rise in social media fraud. Crimes caused by social media-related crimes are estimated to generate at least $3.25 billion annually for global cybercrime.  

Scammers are continually perfecting their tactics to trick their victims into disclosing sensitive information. The impact of social media fraud can include financial loss, identity theft, reputational damage, and the disclosure of personal and sensitive data. Raising awareness of these types of attacks is therefore crucial.  

Below are the five most common social media scams:  

1. “Catfishing”

In catfishing , scammers create false identities online in the hopes of luring someone into a romantic relationship. They typically create fake profiles using stolen photos and other people’s personal information. Once the victim’s trust is gained, they often allege financial difficulties and make demands for money. Signs of catfishing include rapid progression in the relationship, avoiding detailed questions, non-specific profiles, fake photos, requests for money, and refusal to meet in person. 

2. Quiz

Facebook and Twitter are full of quizzes like “Who is your celebrity soulmate?” or “What does your zodiac sign say about you?” They may seem like harmless fun, but scammers often use these questions to steal your data or infect your device with malware. The answers you give to seemingly innocuous questions like “What city were you born in?” or “What’s your pet’s name?” are often answers to common security questions used to secure accounts. Once hackers have access to this valuable information, they can try to compromise your online identity.  

Even if it’s a legitimate quiz, you’ll usually have to agree to the site’s terms and conditions, which often give third parties access to your social media profiles, contact lists, and other information that can be used for targeted advertising. You should avoid taking any of these short social media quizzes and be very skeptical if you’re asked to provide personal information.  

3. Hidden URL 

Shortened URLs are commonly used on websites like Twitter, where space is limited. Cybercriminals often use these shortened URLs to disguise phishing links and malicious websites . By hiding the real URL, users cannot verify the link’s validity and may be redirected to a website that infects their device with malware.  

However, there are some ways to check if a link is malicious without having to click on it. You can copy and paste a link into sites like ExpandURL or Google Safe Browsing , which will verify that the link is legitimate and free of malware. They will also provide you with information about the web page’s title, description, and keywords, telling you whether the page is safe to visit.  

4. Profile hijacking 

In profile hijacking, a scammer takes over a social media account to use it for their own fraudulent purposes. They can do this in several ways: They can create a nearly identical account with a person’s photo, personal information, and location. This allows them to deceive other users into believing it’s a trustworthy source and then attempt to befriend them and spread malicious links.  

Alternatively, hackers can also break into an existing profile and change the password to defraud friends and contacts. Often, one of the first signs that your account has been hacked is when a friend tells you they received a strange message from you with a dubious link. In this case, you should contact your social media platform to request a new password and follow their advice on the next steps.  

5. Third-party apps 

You may think you’ve secured all your social media accounts, but connecting to a questionable app can put your accounts at risk. Permissions are used by apps to access certain features and data on your device. Before granting an app access, read its privacy policy to find out how it plans to use your data. If you don’t pay close attention to these details, you could be giving an app permission to connect to your social media profiles, giving hackers direct access to your online accounts.  

How to avoid social media scams  

• Don’t click on suspicious links – Be suspicious of any post or message that asks you to click on a link. Even if you know the person, pay close attention to the language and tone of the message. If anything seems even slightly odd, ignore and delete the message.  

• Provide minimal information – The amount of personal information you are required to provide on social media profiles is optional, so avoid providing sensitive information like your home address and phone number.  
• Check your privacy settings : Make sure your social media profiles are set to private if you don’t want strangers to see your posts and personal information.  
• Don’t accept friend requests from strangers – If you accept a friend request from someone you don’t know, they can access all the personal information in your profile and contact lists and get a detailed picture of your online social activity.  
• Do your research – Verify the person’s authenticity by looking up their name, profile picture, or other information they’ve provided you with. If you suspect the photo is fake, you can perform a reverse image search using Tin Eye or Google’s reverse image search . These search engines will show where the photo came from and where it’s been used.  
• Use strong and unique passwords – Using the same password for multiple accounts significantly increases your risk of being hacked. Use a strong password for each social media account and change it regularly. Use a combination of upper and lowercase letters, numbers, and special characters. For added security, consider using a password manager , which provides a central, encrypted location where all your passwords are securely stored.   

• Use advanced privacy settings – Regularly review and adjust your privacy settings to limit what others can and can’t see on your profile. You should also limit the access apps have to your personal data.  
• Enable two-factor authentication – Most social media sites offer two-factor authentication (2FA). This provides an additional layer of security for your online accounts and means that even if someone steals or guesses your password, they won’t be able to access your account without a second authentication factor.  
• Install antivirus software – Installing antivirus software will help you detect threats on your computer and prevent unauthorized users from accessing it.  
• Keep operating systems up to date – It is important to keep your software updated regularly to prevent hackers from gaining access to your device through vulnerabilities in older and outdated systems.  
• Do not use public Wi-Fi to log into social networks – these open networks often have unencrypted connections and are vulnerable to hacking.  

• Be suspicious of too-good offers: Be skeptical of unexpected offers, prize notifications, or promises of money. If something sounds too good to be true, it usually is.  
• Report suspicious activity : Report suspicious profiles or activities to the social media platform administrators and block users who attempt to harass or scam you. 
• Education : Stay up to date on the latest scams by educating yourself. Social media platforms and government agencies often offer cybersecurity information and resources. 
• Use trusted apps : Download (social media) apps only from official app stores and avoid third-party apps.  
• Secure connection : Use a secure connection (HTTPS) when accessing social media to protect your data. 
• Regular Review : Regularly check your social media profiles for suspicious activity and remove unwanted contacts or posts.