Social media safety from social media scum
Nearly 50% of scams reported to major banks originate on social media. Social media is flooded with fake ads for things like merchandise, cars, property rentals and home services.These scams can show up in marketplaces (mainly), spoof/fake websites and groups you follow.
Keep in mind that sending money with Zelle® or a Wire transfer is just like sending cash. It’s highly unlikely you’ll get your money back if something goes wrong.
Know which forms of payments offer purchase protection
Purchase protection is a benefit you often get with some forms of payment, such as credit cards.
- This means you could get your money back if you pay for an eligible purchase and don’t receive it.
These forms of payment don’t give you purchase protection:
- Cash
- Checks
- Crypto
- Gift Cards
- Wire Transfers
- Zelle®
This means it’s highly unlikely you’ll get your money back if it’s a scam.
Social media tips:
- Watch out for sellers who require forms of payment that do not provide purchase protection.
- Use a form of payment that does offer purchase protection when sending a deposit for a service.
- Before you pay, always ask yourself: “Am I sure this is not a scam?”
10 most common scams on social media:
1) tickets
2) property rentals, sales or leases
3) car/car parts
4) puppies/pets
5) furniture
6) electronics
7) moving/shipping services
8) clothes/jewelry
9) home contractors
10) household pppliances
Take a careful look at the ad
Are there any of these red flags?
- Does it look like the photos were simply pulled from the internet?
- Have the pictures been used in other postings online? (You can do an image search to find out.)
- Is the price ridiculously low?
- Does it seem too good to be true?
Credit the source: Thank you Chase Bank for the email article and warning. Full credit to their article- to read more visit here
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