Every year, billions of dollars are lost due to cyberattacks and online scams. Scammers are looking for new ways to lure in unsuspecting victims all the time, and they are employing increasingly creative methods to do it. Since the beginning of the pandemic, scammers have become more aggressive towards businesses using social media. Let’s explore some of the most common scams that attack social networking accounts and what we can do to detect them before it’s too late.
Scam artists often take advantage of employees by convincing them to apply for a job that doesn’t exist, and eventually tricking them into revealing sensitive data or paying a fee. Most often, these fees are disguised as study materials, payment for certifications, business starter kits, or training.
Financial Relief Scams
Many businesses have faced financial hardship over the past year, and scammers are aware of that. They’re also aware that many legitimate government backed programs have been introduced as a means to offer financial relief to small businesses. Financial relief scams take place when scammers pose as legitimate debt relief programs and swiftly steal funds or personal information from those who fall for their act.
Of all the scams covered thus far, romance scams are probably the least likely to occur on your business’ social media account. Even still, over $304 million were lost in 2020 alone due to romance scams. With such massive losses in this category, it isn’t outside the realm of possibility that a scammer would target business accounts and quickly try to obtain personal information.
These scammers strike up a relationship with their targets to build their trust, sometimes talking or chatting several times a day. Once trust is built, the attacker strikes, usually by telling a creative story that involves requesting a wire transfer or the purchase of prepaid gift cards.
Several Commons Signs of Social Media Scams
- The interaction begins with an unexpected approach
- Immediate commitment is desired throughout the entire interaction
- Requests for gift card purchases or wire transfers
- Refusal to meet in person
- An offer presented that seems too good to be true
- You are directed to an unfamiliar site to claim a gift
Revitalize Social Media Marketing for Your Business with My Content Co
My Content Co knows how to create relevant, engaging, and timely digital content, just like you know how to grow your business. We specialize in creating SEO friendly websites, blogs, social media posts and newsletters that are consistent with your brand. Partner with us to get your customers reading your blog. Visit us online or contact us today at 410-324-3934 to get started.