The internet is now the primary source of communication, entertainment, and shopping for many consumers. And social media is one of the biggest channels available.
Online scammers are increasingly using these platforms to steal personal information and data or money from social media users, and there’s been a sharp rise in cases.
Now, the Better Business Bureau (BBB) is warning users about a new scam that’s recently surfaced on social media platforms that could pose a risk.
What is the scam?
The scam works by encouraging users to take part in a book exchange. It may seem innocent but, in reality, it’s actually operating as an illegal pyramid scheme.
Users are asked to provide their name and contact information, along with the names and details of a few friends who enjoy reading. They are then allowed to send one book to a stranger and they receive 36 books from other members from around the world.
However, the books eventually stop being sent and the scammers are left with the contact information of the user and some of their friends and family members.
Social media users should always be vigilant when it comes to spotting online scams. If it’s too good to be true, then it usually is.
Remember, scammers will often use incentives to click on links and provide details. They will also create the impression that they are a reputable company to gain your trust.
If in doubt, make sure you perform a Google search on any company you find on social media. If there’s a suspicious URL, the branding doesn’t look genuine, or something else looks wrong, always avoid giving any details and report the company to the social media platform.