Instagram has started to deceive users who have subscribed to the pages of banks - ForumDaily
The article has been automatically translated into English by Google Translate from Russian and has not been edited.
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Instagram started to fool users who subscribed to the pages of banks.

Scammers use Instagram to lure money from users. Photo: pixabay.com

Scammers use Instagram to lure money from users.
Photo: pixabay.com

Company ZeroFox, which specializes in cybersecurity, including in social media, has published a report stating that more than two million public announcements were found on Instagram with offers to “make some money”.

This kind of fraud is called Money Flipping.

Пользователю предлагают сделать небольшую инвестицию в сумме от $100 с возможностью потом получить значительно большую сумму — $1000 and more. Scammers explain that they broke popular money transfer systems, like MoneyGram or Western Union, and can change the amount of the transfer. Thus, $ 100 can turn into $ 1000. Of course, gullible users, transferring money, get nothing back.

Другой вариант — пользователь дает мошенникам доступ к своему счету и, в конце концов, тоже остается ни с чем.

ZeroFox notes that in place of one closed account of scammers on Instagram, 3 new ones appear. For banks, this is fraught with large losses, because often they go to meet victims of fraudsters, compensating them for losses or covering part of the losses.

One of the banks even created a department of 6 workers who moderate similar posts on Instagram. This happened after the bank suffered a loss of one million dollars from Money Flipping.

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