{"id":8776,"date":"2021-02-19T05:28:11","date_gmt":"2021-02-19T10:28:11","guid":{"rendered":"https:\/\/cmitsolutions.com\/tribeca\/?p=8776"},"modified":"2023-02-17T16:56:47","modified_gmt":"2023-02-17T22:56:47","slug":"types-of-social-media-scams-fraudulent-activity","status":"publish","type":"post","link":"https:\/\/cmitsolutions.com\/tribeca-ny-1166\/blog\/types-of-social-media-scams-fraudulent-activity\/","title":{"rendered":"Types of Social Media Scams"},"content":{"rendered":"

The 2019 State of Cybercrime report found that many criminals rely on social media to commit fraudulent crimes. The rate of fraudulent attacks on social media<\/a> has increased by more than 43% from 2018 to 2019, and criminals are finding new ways to exploit social media users. Javelin Strategy and Research found that accounting for the loss caused more than $ 3.5 billion in economic losses. The company also reported that those who work on Facebook, Instagram, and Snapchat are more exposed to information sharing. Hence, they are more likely to fall prey to fraudulent activity.<\/p>\n

What are the main scams on Social Media?<\/h2>\n

According to the Federal Trade Commission (FTC) and Data Spotlight<\/a>, consumers have reported an estimated $ 117 million fraud in the first six months of 2020 that began on social media. Other common social media scams include the following:<\/p>\n

\"Fraudulent<\/p>\n

Love Scam<\/h2>\n

In a dating scam, a scam identifies people who want to date romance through social media or by creating a profile in a dating app. About half of the love scams in 2019 started on social media, usually on Facebook or Instagram. Additionally, people have reported a $ 201 million loss due to such love scams in 2019 alone. In this scam, the scam usually puts its time in building trust and relationships with the victim. After that, they asked for money for the following reasons:<\/p>\n