Instagram users are being warned about the scam scheme that has targeted a large number of Instagram users. An investment scam that has caused thousands of pounds of many users on Instagram.
The investment scam was advertised through the Instagram app. The fraudster offered the user to invest their money in some scheme with the title “get rich quick.” This squarely influenced the users, and they spend their money via bank transfer to the fraudster’s bank account. The fraudsters then send screenshots showing thousands in profit crediting in users’ accounts, which they claim can be released free. But when the users tried to withdraw their amount, the fraudsters prohibited the connection with the users and closed their Instagram account. It is found that the users aged between 20 and 30 are most likely to encounter this type of scam.
In a blog post, it is revealed that 356 reports have been received of the scam between October 2018 and February 2019, with the standard amount of losing £8,900.
Fraudsters are taking benefits of unsuspecting victims who share their day to day lives on social media.
It is essential to keep yourself safe from such fraudulent activities and scams. Here is how to stay safe from scams-
- Never accept any request to send money to any organization you don’t know and trust. These types of appeal are mostly scams and dangers. If you feel something wrong with the organization or the scheme then it usually right to question it.
- Do not immediately agree to any offer which demands advance payment or as to sign any contract. Always check the authenticity of the organization and speak with your friends and family member first.
- Always check the certificate or credentials of any financial company. Check if they are registered or not.
- Act smartly and do not trust any scheme too quickly.
Social media platforms are for enjoyment, knowledge, and promotion but not to spend money. Do not let your social media platform to be a reason behind any casualty. Act smartly and don’t let anyone take advantage of your investment and activities.