Instagram has become a hotbed for scams lately, with fraudsters taking advantage of people searching for work amidst prolonged high unemployment after COVID-19. What’s worrying is these scammers are getting far more sophisticated, actually investing money into official-looking Instagram ads to better trick vulnerable job seekers into their schemes. Let’s explore how these employment cons operate, the common Instagram scam types to be aware of, and how to avoid getting duped.
Fake job postings running rampant
While phoney job scams used to be predominantly perpetrated through shifty Instagram DMs, comments and Stories, scammers have now started shelling out cash to run slick Instagram ads for fictitious openings. The appeal? High-salaried roles at reputable firms like Amazon, Netflix, or Flipkart designed to grab attention.
The scam process typically goes like this – you’ll come across an Instagram ad for a wonderful employment opportunity offering unusually high compensation compared to similar positions. Which already hints that it’s likely too good to be true. To “apply”, sensitive personal information is requested like your bank details or copies of your ID cards. Armed with this data, fraudsters can then open fake credit cards or drain your bank account. Or they can go the shorter route and trick you into sharing your credit card information directly.
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To keep suspicions at bay after you’ve shared info, they may even pay small returns on an initial “investment” to further encourage bigger deposits from you over time. However, the moment your payments hit their desired target, they disappear without a trace along with your hard-earned money.
Other Instagram scams running wild
Unfortunately, fake job ads are just the start when it comes to Instagram cons. Here are three other common ploys I recommend watching out for:
Fake influencer accounts
Have you ever gotten a follow or DM from a mysterious private “wealth advisor” account, likely an attractive female persona with enormous followings? There’s a strong possibility it’s a fraudster puppet profile packed with inauthentic followers and engagement. Here’s how this grift works:
You’ll get a follow or DM from a seemingly “popular” private account proclaiming insider tips to get wealthy through crypto, stocks or real estate. However, a quick look through reveals content totally unrelated to finance – just quotes and memes copied from elsewhere. Next, they inform you of some “exclusive” can’t-miss investment opportunity that gives off obvious too-good-to-be-true warning signs.
Sponsorship scams
Influencer sponsorships are a thriving business on Instagram. However certain brand partnership offers turning up in creator inboxes can in fact be scams targeting those with decent follower bases. The formula goes:
A fake brand account reaches out proposing an influencer sponsorship deal for your monetised account. Grand promises are made of lavish weekend trips, comped luxury hotel stays and lucrative payouts to feature their product. But there’s a catch – you may first need to pay ‘upfront travel costs,’ which they vow to refund. But once you pay up, the fraudsters disappear without a trace along with your money, leaving you without sponsorship.
Get-rich-quick schemes
Lastly, dubious accounts constantly sell far-fetched “get rich fast” pitches and nonsense cash-flipping programs. The model is:
The account incessantly shows off private jets, yachts, watches, dinners at 5-star restaurants and most importantly – piles of cash. Then they claim they can teach you to attain the very same level of success very rapidly. All that’s needed to begin is an initial “investment” payment for them to generously invest in crypto or stocks on your behalf. However, as soon as the funds are sent, the scammer predictably ghosts without a penny seen in return.
Recognising and avoiding Instagram scams
The key principle to remember is never to send money or sensitive personal data to strangers making unbelievable offers. No job requires you to pay first and if someone requests dubious amounts of identification data, that’s a major red flag. Besides this, here are some vital red flags to watch for:
– Requests for upfront cash for any reason
– Vague investment “opportunities” seeming unrealistic
– Pushing conversations off Instagram
– Sob stories requiring you to send emergency money
– Poor spelling and grammar
– Unverified accounts acting as brands or celebs
– Fake security alerts asking for login information
Staying alert for suspicious behaviour will help you steer clear of Instagram scams and keep your money safe.
© IE Online Media Services Pvt Ltd Zohaib Ahmed
Zohaib is a tech enthusiast and a journalist who covers the latest trends and innovations at The Indian Express's Tech Desk. A graduate in Computer Applications, he firmly believes that technology exists to serve us and not the other way around. He is fascinated by artificial intelligence and all kinds of gizmos, and enjoys writing about how they impact our lives and society. After a day's work, he winds down by putting on the latest sci-fi flick. • Experience: 3 years • Education: Bachelor in Computer Applications • Previous experience: Android Police, Gizmochina • Social: Instagram, Twitter, LinkedIn … Read More