SCU Credit Union Go to main content

Perspectives, Financial and Otherwise,
from SCU Credit Union

SHARE THIS:
Facebook Twitter Print Email

Beware of Social Media Scams

5/22/2018

Over the last few years, social media scams have exploded, with fake Twitter and Facebook profiles increasing by 100% in just one year. That also means there are several types of social media scams, most which involve a phishing scheme component.

Here’s how it happens: Scammers try to “friend” you by creating a bogus profile or cloning the profile of someone you know. Then, they’ll get you to share personal information by asking you random questions. Meanwhile, you’re unknowingly giving away the security questions for your personal passwords. By the time you realize what’s happened, it’s too late.

Other social media scams involve fake offers and promotions. To get your hands on the goods, though, you’ll first need to share your personal information.

In another scam, fraudsters reach out to you while impersonating your financial institution. They’ll claim to have incredible rates on loans. And, if you apply for this “loan,” the scammers might empty your accounts or trick you into making upfront payments to qualify.

Here’s how to spot, prevent and react to social media scams:

How to spot a scam

Watch for these red flags:

  • The posted offer sounds too good to be true.
  • You’re asked to make an upfront payment for a loan application.
  • You’re urged to act immediately or risk missing the offer.
  • The scammer claims to represent Sharon Credit Union, but when you call us to discuss the offer, no one knows what you’re talking about.
  • You’re asked to share sensitive information in the initial stages of the application.
  • A social media “friend” keeps asking you random questions.

Preventing social media scams

Preventing social media scams isn’t difficult. All it takes is some common sense and practical steps.

  • Think before you click. Ignore anything suspicious or intrusive.
  • If a lender has contacted you, check their legitimacy with the BBB at bbb.org.
  • If you need to take out a personal loan, contact us directly at 781-784-7725.
  • Never share personal information online with someone you don’t know.
  • Look for a publicly listed phone number that corresponds with the name of any “company” that has contacted you.
  • Never agree to pay for a product upfront without being certain of its legitimacy.
  • Check your social media privacy settings on a regular basis.
  • Never post anything that can be used to steal your identity.

If you are a victim

If you’ve been victimized, here’s how to minimize the damage:

  • Shut your computer and use another device to change your passwords.
  • Put a fraud alert on your credit.
  • Let us know. We’ll watch your accounts and refuse to honor sketchy charges. Also, if the scammer used our name, we’ll do all we can to take them down.
  • Alert the Federal Trade Commission (FTC).
  • Tell your friends to be aware of any random requests that may come from you.

Your Turn: Have you ever been targeted by a social media scam? Tell us all about it in the comments! 



« Return to "Blog Home"
  • Share:
Comments
BG/SBLC/LOAN
5/21/2021 10:19 AM Alex J. from Bristo, CA


SIGNET UK FINANCE PLC is a British based financial consulting company with years of experience in the international and local finance market. Be it lease bank guarantee, Stand by letter of credit or any type of refinancing, talk to our team at SIGNET UK FINANCE PLC and certainly we will set your business on the right path with our sound and quality financial advice and services. Our bank instrument can be help you fund you projects in Trading, funding project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kind of projects.Having years of professional, invaluable experience in the banking and finance industry, and having access to dozens of different prominent trusted and reliable providers, our Financial Services consultants will crawl through hundreds of products to find one that perfectly matches your needs.

Purchase Instrument of BG/SBLC : 38%+2% Min Face Value cut =5M- 10B EUR/USD
Lease Instrument of BG/SBLC    : 6%+2% Min Face Value cut = 5M- 10B EUR/USD

Contact Name: Alex James
Email:signetukfinanceplc@gmail.com
SKYPE:signetukfinanceplc@hotmail.com
Whatsapp #:+971 55 178 0389
loan
11/12/2020 8:16 PM Tom B. from tx, FL
I am Tom Brandy, currently living in Texas, USA. I am a widower at the moment with two kids and i was stuck in a financial situation and i needed to refinance and take care of my children. But as God would have it, i was introduced to WILLIAN LOAN FIRM by a friend of mine, whom is Brian Walker, i was given a loan at a very low interest rate (3%) to start up a business. I would advice anyone seeking for loan to contact Mr Willian via Email: willianloanfirm6@gmail.com or what’s app him on +1 214 305 8945.......................
Post Comment

(Only last initial will display on comment)

(Not displayed on Comment)




Security Code:
What's this?