Giveaway Scams Are All Over Facebook and Cash App – Don’t Fall For The Trap

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Scammers often target victims with fancy schemes to increase their wealth. Whether investing in cryptocurrencies or filling out forms, there will always be a catch. Pro tip: Get Kim’s Cryptocurrency 101 eBook for sound advice on how to invest in crypto.

While phishing emails and text messages are frequently used scam methods, social media is also part of the criminal arsenal. A popular scheme is known as the free scam. It may seem like a lot, but you probably won’t be happy with the results.

Think you can tell fact from fiction? Read on to see how Facebook and Instagram serve as the primary delivery method for these types of scams.

Here is the backstory

Everyone likes a lot, but there is no free money. Anyway, an advertisement on Facebook and Instagram promises users $750 in Cash App rewards. He also appeared in WhatsApp and Facebook groups.

The principle is simple: complete a short survey and you will receive a reward for your efforts. But that alone should send alarm bells ringing. According to fact-checking website Snopes, the scam has been around since at least May last year.

“Most of them seemed to lead to brief surveys in Google Docs or sites.google.com pages before finally asking users for personally identifiable information (PII),” Snopes explains. As a result, criminals can commit identity theft, launch phishing attacks, or steal your social media and bank accounts with your personal information.

A book-swap program that’s also making the rounds on Facebook and Instagram promises the return of reading material for one thing.

This idea is spreading through social media and WhatsApp groups and urging recipients to sign up for the book exchange. All you need to do besides providing your name and email address is send the names and contact details of a few friends.

You then send a book to a random participant for the book swap to work, and you will allegedly receive 36 books in return. The fact is that there is no guarantee that you will receive any books. Not only that, but it is an illegal pyramid scheme.

What can you do about it

The Better Business Bureau (BBB) ​​points out that this is rapidly deteriorating. “This type of gift exchange is actually an illegal pyramid scheme. Eventually, new people will stop participating or responding to messages. Then, new recruits will never receive the books they were promised,” the BBB explains.

Not only would you have lost the money it costs to buy and send a book, but you have also compromised your contact details and those of your friends. To stay safe, here are some tips from BBB:

  • Ignoring plays on your emotions. Don’t fall into the trap of participating in a book exchange because you’ll “brighten someone’s day” or “pay it forward.” Think about it logically. Is it sustainable to give a book and receive 36 in return? Offers like these are sure signs of a pyramid scheme.
  • Too good to be true? There is probably a catch. We all love getting things for free, but don’t let that cloud your judgment. Keep in mind that any program that offers big returns for a small contribution is probably doing something illegal.
  • Protect your personal information. Never give your name, address, email address or other sensitive information to a stranger. This will make you vulnerable to other scams and identity theft.
  • Report social media posts that promote pyramid schemes. If you spot a pyramid scheme on social media, report it by clicking “Report Post” or “Report Photo.”

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