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Indianapolis, IN - August 6, 2015– Instagram, a popular service and fun way to share photos and videos has become joined other social media networks, as a platform for unscrupolous schemers to target unsuspecting consumers.
One particular scheme is similar to the classic money-flipping scheme. For example, a schemer posts an advertisement instead of a photo claiming a small investment of $100 can be turned into $1,000. When an interested party inquires on how to invest, they may be asked for pin numbers, bank accounts, etc., exposing crucial personal information that could result in wiping out bank/credit card accounts or identity theft, or sending money that will never be “invested” therefore yielding no return.
In particular this new generation of social media schemers seems to take advantage of the prepaid debit cards over wire transfers or money orders. Once they have your PIN number, all funds are removed.
Remember to always protect your personal information, including PINs, and if it sounds too good to be true, it probably is.
If you encounter such advertisements, contact Instagram through their Privacy and Safety Center at https://help.instagram.com/285881641526716.
For more information, please contact BBB at info@bbb.org or 1-866-463-9222. To start with trust, research business reviews at www.bbb.org/indy.
About BBB® Serving Central Indiana
For more than 100 years, Better Business Bureau has been helping people find businesses, brands and charities they can trust. In 2014, people turned to BBB more than 165 million times for BBB Business Reviews on more than 4.7 million businesses and Charity Reports on 11,000 charities, all available for free at bbb.org. The Council of Better Business Bureaus is the umbrella organization for 113 local, independent BBBs in the United States, Canada and Mexico, as well as home to its national programs on dispute resolution, advertising review, and industry self-regulation. BBB Serving Central Indiana was founded in 1916 and serves 46 counties in Indiana.
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