back to article FTC: Please stop falling for social media scams, you've given crooks at least $650M so far this year

Social media posts hyping products and investment opportunities that sound too good to be true … probably are, the FTC would like you to know. In fact, according to the US government watchdog, since 2021 people have lost more than $2.7 billion from fraud pushed via social networks. Social media is the number one method for …

  1. TheMaskedMan Silver badge

    I suppose it makes sense for younger people to be more commonly affected, in that there are more of them and, in many cases, they're still wet behind the ears. But is it really too difficult for them to simply Google the product they're thinking of buying?? Chances are, there will be plenty of pages confirming it to be a scam or complaining that the product doesn't work/ stopped working within days / never arrived etc.

    It's worrying that so many people just believe what they're told, even though it's coming from an ad (which is never, ever going to suggest that the promoted product is anything less that perfect), or from some random stranger they chat with online.

    Obviously, scamming is naughty and scammers need to be re-educated with a big stick. But do people really need to make it so easy for them? Are they really so gullible, or are they just too lazy to check things out for themselves?

    1. Yet Another Anonymous coward Silver badge

      Young people are depressingly stupid

      One of our new crop of minions (with an engineering degree !) bought Apple gift cards for our CEO

      The email was written in 'idiot speak', Outlook flagged it as "external" and why in the name of 'rm -rf /*' would the CEO want the intern to buy gift cards ?

      1. Anonymous Coward
        Anonymous Coward

        "Young people are depressingly stupid"

        Congratulations on your supreme intellect, and the fact that there's no scam that will ever trick you.

        1. Yet Another Anonymous coward Silver badge

          At least I grew up cynically distrusting everyone and everything - thanks to Thatcher

          1. b0llchit Silver badge
            Facepalm

            And we are all still suffering from the Thatcherism that she caused to spread in Europe. Only the spread of cynicism has been a good result.

            1. Dacarlo

              Last I checked Thatcherism was still alive and well doing the rounds in todays Tory party. That and Trumpism.

              1. JohnSheeran
                Trollface

                You mean that Trumpism can be blamed on the Brits? WOOHOO!!!!

                1. veti Silver badge

                  I don't know what the previous poster was on, but Trump and Thatcher had absolutely nothing in common bar the first letter of their surnames. Well, maybe hair colour sometimes, but Thatcher's hair was unashamedly dyed anyway.

          2. ITMA Silver badge
            Devil

            The advice I give to our staff when it comes these sort of scam emails/messages is this:

            Trust no one, suspect everything. If in any doubt, ask and send me a SCREEN SHOT of the email (do NOT forward the email itself).

            And they are learning.

            1. Yet Another Anonymous coward Silver badge

              >Trust no one, suspect everything

              Did they believe your warning ?

              1. ITMA Silver badge
                Devil

                A good question. LOL

                If they did, they still have much to learn hehehehe

        2. Lee D Silver badge

          There's a difference between claiming others are poor at spotting scams and the claiming that they are infallible.

          For reference - I've never had a credit card skimmed, a single unauthorised charge, an online scam or compromise, etc.

          In fact, step 1 of the plan for verifying scams in very organisation I have ever worked for is "Run it past IT if in doubt".

          We are then the arbiters of whether it's a scam or not. We haven't got it wrong yet, and that's several different workplaces over decades.

          Doesn't mean that we COULDN'T EVER get it wrong, it just means that we're much harder to fool.

          And I've had things where I literally spoke to the scammers on the phone because the phone was handed over suspecting a scam, and as soon as they realise they're talking to the IT department, suddenly their enthusiasm evaporates. Whether that's trying to authorise a transaction, install some "remote support" software, or merely click a link.

          Because we've been trained rigorously by cyber-security specialists, MI5 have shown us how to detect lies, or that we spent our lifetimes handling nothing by front-end, high-risk financial interfaces? No. Because we have a modicum of common sense and can spot a scam a mile away, and have the authority to say "Nope. That will not happen on my system." I've said that to the top level of the organisation, against their wishes. I have literally overruled "the big boss" that nobody says no to. By saying no. In some of those cases, it was "genuine", just extremely poorly handled by the other end, and in some cases it was an outright fraud trying to extricate £100,000's from our coffers. Still, I overruled until we were cast-iron certain things were legitimate. I never received any flak for doing so.

          Spotting scams doesn't make you infallible, but it's not difficult to spot the vast, vast, vast majority of them.

          And it's not wrong to call people stupid if they fall for obvious scams, and do so repeatedly.

          (P.S. We run simulated phishing attempts in my organisation, from a sophisticated paid-for service... it literally reads your inbox, tries to make a "genuine" email from your contacts, and hides lots of the origin information to make it more viable. They are easily spotted for the most part, but you can tweak the levels, e.g. for the IT department. I will tell you now that the people with some of the most serious responsibility and power on the system are some of the easiest prey and users fall for some ridiculously obvious things - especially the newbies who aren't accustomed to their employer running phishing tests on them).

          You don't need to be infallible to be not-stupid.

          1. ITMA Silver badge
            Devil

            I find the most serious deficiency is good old common sense.

            A simple additional layer we use is that a user's username is NEVER their email address - for anything on our internal systems at least. Not their network signin nor their email accounts.

            So these bogus emails with links which take you to fake (for example) Microsoft 365 login pages may get a password - if the user is too dense to NOT enter it because they haven't spotted that the sender's display name is totally incongruous with the actual sender email address, the MOST basic of checks.

            But still won't have a valid username to go with it since most scam login sites assume it is their (external) email address.

      2. This post has been deleted by its author

      3. GruntyMcPugh

        That happened to a member of staff where I work, a member of staff's 'boss' emailed using gmail, asking for Apple gift cards. Real boss was online in our instant messenger app, minion failed to clarify with boss and got scammed. Why are bosses too busy to buy gift cards, but able to do whatever it is they need them for, whilst so busy,... why are they using gmail when they are online,... why not communicate fully through company channels?

        1. MachDiamond Silver badge

          "why are they using gmail"

          Full stop.

          All of the scams I have seen in the last year or three have a free email address as a contact with most of them being Gmail. A Gmail account is always a major red flag.

      4. cmdrklarg

        Young people are depressingly stupid

        FTFY

    2. jake Silver badge

      "Are they really so gullible"

      Yes.

      "or are they just too lazy to check things out for themselves?"

      Yes.

      1. Yet Another Anonymous coward Silver badge

        We keep getting told how they are "digital natives" and have an inbuilt ability to understand t'internet in ways that those of us who remember life before http, never can

        1. b0llchit Silver badge

          Ehm, you mean, how they are the new elite id10t group?

        2. Michael Wojcik Silver badge

          The "digital native" theory has been widely debunked for years.

          That said, I've yet to see any methodologically-sound study supporting any claim that any generational cohort is better or worse, on average, at avoiding becoming the victim of fraud. We've had fraud for all of human history and no doubt long before that. Humans are highly susceptible to it – even (in some cases especially) educated people, people who routinely deal with fraud, people who are habitually suspicious, and so on. There are plenty of studies establishing that.

    3. veti Silver badge

      2013 called, they want their advice back.

      Googling the product will no longer work in all but the crudest cases. Yer modern scammer is well able to mock up a few dozen posts enthusing about their product, then make sure several of them appear on the first page of the Google results.

      It's part of the enshittification of Google. Where once they built their user base by showing the most useful results, then they attracted sellers by showing the most saleable results, now they're on to the phase where they'll show absolutely anything they're paid to, as a form of extortion of everyone who's reluctant to pay them.

      1. MachDiamond Silver badge

        "Googling the product will no longer work in all but the crudest cases."

        Yes and no. I look at the vendor to see if there's any history there. If I get a web address that doesn't show contact information, that screams, "Scam". I don't care how good the web site looks and how good the prices are (another red flag), there are always clues. I suppose since I'm not using Google, I'm also not "googling" things.

        Social media sites exist to serve up ads and PII back to their customers (the advertisers). They aren't marketplaces. If you are still willing to buy something from a person via a SM site, it should be a local direct sale and not a big purchase. I buy/sell/trade all of the time through Craigslist. Some things eBay won't let me sell and some things are too difficult/expensive to ship.

        A few years back I spotted a good deal on a new Canon telephoto lens listed on eBay. Not just a good deal, but too good and the seller had something like 18-20 of them for sale. A seller with no feedback. In about a week the negative comments started coming in and a week after that the seller's account was removed. I had a feeling that would be the case. I expect this is why eBay now severely limits the listing values of items of new sellers. I always pass on buying expensive items from new eBay sellers. It's not a guarantee I'll never be scammed as there are places that sell established eBay accounts, but sellers with a good history are backed by eBay with a money back guarantee.

    4. Anonymous Coward
      Anonymous Coward

      "I suppose it makes sense for younger people to be more commonly affected"

      It doesn't say that. It says young people are more affected by scams using social media as a vector.

      In my experience it's mostly oldfolk who get ripped off. Via phone and emails.

      1. Doctor Syntax Silver badge

        "In my experience it's mostly oldfolk who get ripped off. Via phone and emails."

        e.g. someone I know in his 90s. Ex maths teacher, and, I think, ex-headmaster but fell for a banking scam. Fortunately his wife caught on what had happened and was able to stop it. She explained that he was from a family who'd worked in banks and therefore believed anyone who said they were from a bank must be reliable.

      2. Michael Wojcik Silver badge

        It says more younger people report being victims of such scams. Since it's self-reported, we don't know whether that correlates to actual victimization rates.

    5. GruntyMcPugh

      Seems people are still a bit naive. I saw a story recently that a gang in Nottingham were approaching young adults, and telling them about some Crypto investment that was a sure fire winner. They then asked for the mark's mobile phone, so they could add them to a social media group, and just walk off with the phone, at which point accomplices appear, and tell the mark to let it go.

      I'm an ABC'er, Assume nothing, Believe nothing, Challenge everything, seems a lot of people skip these steps.

      1. Michael Wojcik Silver badge

        Seems people are still a bit naive.

        Seems people are still people. FTFY.

        I'm an ABC'er, Assume nothing, Believe nothing, Challenge everything, seems a lot of people skip these steps.

        Perfect vigilance is impossible. While we're playing Dueling Anecdotes, see Cory Doctorow's 2010 account, for example. Or the NCC Group study showing IT services workers are more likely than average to click on phishing links, possibly due to overconfidence.

  2. jake Silver badge

    Well, seeing as ...

    ... so-called "social" media is a scam, why on earth wouldn't the crooks go there to find the easily scammed?

    As Willie Sutton didn't put it when asked why he robbed banks ... "Because that's where the money is!".

    1. ITMA Silver badge
      Devil

      Re: Well, seeing as ...

      Anti-social media.

      1. Doctor Syntax Silver badge

        Re: Well, seeing as ...

        No, that's us, here in this home for cantankerous old gits.

    2. Michael Wojcik Silver badge

      Re: Well, seeing as ...

      And, of course, it's economically effective. Greatly reducing the cost of approaching each potential victim is obviously a competitive advantage, so simple scams will adopt it.

  3. Anonymous Coward
    Anonymous Coward

    Meanwhile, here in the UK

    According to government statistics, 40% of all crime is digital or telephony enabled and cost UK citizens around £2.35bn in 2021. Meanwhile, the same source notes that this gets 1% of police resources.

    Apparently the government have a plan to do something about it. Believe it when you see results.

    1. DJV Silver badge

      Re: Apparently the government have a plan to do something about it

      Yes, they plan to burn down all the chicken coops or something similar and just as relevant...

      1. Yorick Hunt Silver badge
        Boffin

        Re: Apparently the government have a plan to do something about it

        The chickens are up to something; they're organised, Mrs. Tweedy!

    2. b0llchit Silver badge
      Coat

      Re: Meanwhile, here in the UK

      ...or telephony enabled...

      Then we must outlaw telephony. No good comes from ringing tones anyway.

    3. Lee D Silver badge

      Re: Meanwhile, here in the UK

      As someone who reported several sophisticated attempts to take £100,000's from previous employers, including some of the best build-up to accustom people to their interaction, several live phone calls, very detailed supplier impersonation, etc. and each time stopping and recording it officially as a cyber-crime with reams of evidence...

      Not once did we ever have any follow-up whatsoever. Not even "no conviction" or "radio silence so they could investigate", but literally not even someone bother to contact us regarding more information, gathering evidence, etc. etc.

      I think the national cybercrime reporting sites just end up in a black hole and the data only ever used for statistical reporting.

      1. Michael Wojcik Silver badge

        Re: Meanwhile, here in the UK

        Hey, there's a lot of boot-putting-in to be done. The police can't investigate every white-collar crime.

    4. MachDiamond Silver badge

      Re: Meanwhile, here in the UK

      "According to government statistics, 40% of all crime is digital or telephony enabled and cost UK citizens around £2.35bn in 2021. Meanwhile, the same source notes that this gets 1% of police resources.

      Apparently the government have a plan to do something about it. Believe it when you see results."

      Jurisdiction becomes an issue with a lot of these crimes. Many times the crimes are committed by people outside of the country and the local constabulary has zero resources for that. Not having any police on patrol or available to respond to calls is going to be very hard to explain with " they were all at desks trying to track down the perps in yet another gift card scam".

      You are also not defining how the percentage of resources are calculated. To have officers on patrol is going to be more expensive than having them sat in downtown offices behind a computer. Not having patrol officers is a non-starter.

  4. Howard Sway Silver badge

    These usually involve someone buying something advertised on Facebook, Instagram or Snapchat

    Make the companies liable for reimbursing customers then if they're scammed via an advert that they've accepted money to run on their platform. Might dent their profits having to check trustworthiness, but boo hoo hoo.

    eBay is excellent when people get conned, I contacted them when helping a neighbour who'd been sold crap and returned it but he didn't get reimbursed. They refunded his money in seconds.

    1. Yet Another Anonymous coward Silver badge

      Re: These usually involve someone buying something advertised on Facebook, Instagram or Snapchat

      Does that include red buses?

    2. Michael Wojcik Silver badge

      Re: These usually involve someone buying something advertised on Facebook, Instagram or Snapchat

      It wasn't clear to me from the article whether these were primarily advertisements or just regular posts, offering (bogus) goods for sale from private sellers, as with e.g. Facebook Marketplace.

      I mean, in either case I wouldn't engage – I don't even like buying online from (ostensibly) reputable vendors, if I can find a local source. But policing regular SM posts for scams would be technologically infeasible and potentially cause a lot of false positives. And getting rid of things like Facebook Marketplace and Craigslist would largely destroy the private-individual markets in many areas, now that such things have largely destroyed the newspaper classified ads, flea markets, and the like that came before them.

      (Yes, I know there are still newspaper classified ads; I read them every week in our paper. And yes, I know there are still flea markets; there's one that happens weekly not far from here. They are greatly diminished.)

      1. alexinalnwick

        Re: These usually involve someone buying something advertised on Facebook, Instagram or Snapchat

        " I read them every week in our paper"

        What's a paper?

      2. MachDiamond Silver badge

        Re: These usually involve someone buying something advertised on Facebook, Instagram or Snapchat

        "And yes, I know there are still flea markets"

        I get loads of stuff from estate sales and some of those can be combinations of several households. It's more efficient for the seller to take a few snap shots of the sorts of things being sold than to list every item individually. The really good sales are where the goal is to clear out the house more than make a bunch of money (save money on rubbish tips/roll offs). I lack for nothing in my kitchen when it comes to pots, pans and utensils. A big favorite is hardware collections that are nicely organized although I need to stop buying those since I'll never use what I have. Too often I just get a wave to take it away when the sale is ending.

    3. MachDiamond Silver badge

      Re: These usually involve someone buying something advertised on Facebook, Instagram or Snapchat

      "eBay is excellent when people get conned, I contacted them when helping a neighbour who'd been sold crap and returned it but he didn't get reimbursed. "

      Step one is doing it properly. This usually means opening a case with eBay and letting the red tape unwind. If you were to just send a thing back to the seller, eBay might not do anything. I give the seller the first chance to make it right and the good ones will just refund my purchase with nothing more said about it if it's not too expensive of a thing. They don't even want it back and only occasionally want a photo.

  5. Anonymous Coward
    Anonymous Coward

    Thank God for age related gullibility decline.

  6. Primus Secundus Tertius

    In my case

    "don't believe messages from a "friend" claiming to need money and asking you to pay with crypto or gift cards"

    I had such a message, apparently from one of my cousins. I checked with a mutual cousin, and that account had indeed been hacked.

    1. MachDiamond Silver badge

      Re: In my case

      ""don't believe messages from a "friend" claiming to need money and asking you to pay with crypto or gift cards"

      I had such a message, apparently from one of my cousins. I checked with a mutual cousin, and that account had indeed been hacked."

      The thing with those is it's often a Text message. I discourage anybody texting me and if a friend did need some cash, I would expect them to call since it would be time critical and they'd want to know one way or the other as soon as possible. Buying gift cards or crypto is non-sensical since they aren't easy to turn into cash without costs and time.

  7. Ian Johnston Silver badge

    In further news, stupid people do stupid things.

    1. Doctor Syntax Silver badge

      You've got to remember that people can be deliberately deceitful and quite cleverly so. It's not necessary to be stupid to fall for a con if it looks convincing. Going through life with heightened wariness is obligatory these days; it's not a good way to have to live.

  8. Terry 6 Silver badge

    I don't think that the youngsters are more gullible. I do think that the social media, and in particular the way that social media is presented as some kind of oracle, makes it a very effective trap for those that are gullible.

    It's very effective at herding the sheep into pens and then taking them off to be fleeced. Most (old or young) people are very good at recognising that an advert that mysteriously appears in their feed offering them their dreams at half price is going to be too good to be true. But the ones that aren't get caught. In a way that they couldn't be before t'internet. (No Martin Lewis is not telling you to invest your entire pension fund into the Acme Dodgy Crypto and Fake Antiques Investment Co.)

    Watching consumer programmes on the TV it's pretty depressing how often someone says the fake holiday rental or dodgy investment they paid for with their hard earned was something they saw "on Facebook"..

    But I have to force myself to remember that these are still a tiny minority who fall for these types of obvious* scams.

    *There are plenty of less obvious ones out there too. And it doesn't help when real banks' marketing idiots send out enticing emails that look just like the stuff the scammers are sending! "Click here [ ] for our very special offer just for you!!!!

    1. Doctor Syntax Silver badge

      And it doesn't help when real banks' marketing idiots send out enticing emails that look just like the stuff the scammers are sending! "Click here [ ] for our very special offer just for you!!!!

      This above all. It should be stamped on with maximum force by the regulators. Banning the executives (ir)responsible from the industry would be a good start.

      1. Andy Non Silver badge

        I had an email today from my bank containing several clickable links, including one trying to induce me to download their banking app. Geesh, talk about encouraging dangerous behaviour.

        1. Anonymous Coward
          Anonymous Coward

          We routinely see similar things from our IT security organization. "Don't fall for email phishing attempts! Click here to learn more."

          I was particularly annoyed that the mandatory KnowBe4 anti-phishing training we used to do required clicking on a link in an email, to an external server. Of course no one running a phishing scam would ever think to imitate that.

          Some of us in the software-security group would routinely raise tickets against IT security every time they did this, just to annoy them (since they were clearly never going to change).

        2. MachDiamond Silver badge

          "I had an email today from my bank containing several clickable links, including one trying to induce me to download their banking app. Geesh, talk about encouraging dangerous behaviour."

          When I had Paypal, I'd forward their emails to their spam@ account since they'd look just like phishing attempts, and get a reply "no, that was us" from an address that was unmonitored. I would then send the chain to higher ups with a note that their marketing looks and smells exactly the same as phish. They never changed, but I did.

  9. mark l 2 Silver badge
    Joke

    "Same goes for online romances — especially with super-hot individuals who never seem to be able to meet up in person but suddenly need cash to pay for their elderly grandparents' medical bills or flight costs to meet their supposed partners to be. "

    I bet there are hundred of extremely attractive men/women who genuinely have this problem who wonder why no one is willing to help them. LOL

    Reminds me of the Mitchell and Webb sketch where the eccentric billionaires are trying to give away a massive yacht, but everyone just hangs up on their calls.

    1. Michael Wojcik Silver badge

      Indeed, I've found it better to be beautiful and rich, rather than just one or the other. Recommended.

  10. Anonymous Coward
    Anonymous Coward

    But What About The Benefits?

    (1) Social media....and billions of dollars lost to scams

    (2) The Cloud.....and billions of dollars transferred to billionaires

    (3) Subscription services....and billions of dollars lost

    (4) GDPR...and millions of personal records transferred to unknown places....many of them bad places

    (5) Online Safety Bill....guaranteeing even less "online safety"

    (6) AI and GAN applications....guarateeing even more theft of intellectual property

    (7) ....and the beat goes on......

    Yup....spiffy, sexy, cool......let's adopt LOTS MORE interweb......

    1. Pascal Monett Silver badge
      Trollface

      Re: But What About The Benefits?

      Yes but, haven't you heard ?

      Soon we'll have AI in our PCs. Surely we'll be protected then, right ?

      1. ecofeco Silver badge

        Re: But What About The Benefits?

        Exactly! The leopards would never eat MY face!

  11. Tron Silver badge

    For those unwisely enticed...

    ...I would urge El Reg readers not to try to bank some easy money at the expense of the young, the elderly and the gullible, with illegal scams.

    Instead, run with a legal scam and start your own online church. The judiciary cannot prove your deity of choice does not exist, is not worthy of worship, and should not receive a proportion of your flock's cash. And don't forget those will bequests, before the charities bag them all.

    1. Yet Another Anonymous coward Silver badge

      Re: For those unwisely enticed...

      I tried, but the message "send me all your money and when Great Cthulhu rises, you too will be destroyed along with everything else" didn't seem to resonate.

  12. Blackjack Silver badge

    Still way way way less that crypto scams.

    https://web3isgoinggreat.com/

    1. Michael Wojcik Silver badge

      Yep. Not much of a comfort to the victims of the small-time scams, though.

  13. Doctor Syntax Silver badge

    "These usually involve someone buying something advertised on Facebook, Instagram or Snapchat, and then never receiving the product."

    As opposed to buying from some of the more regular sites and not receiving the product.

    But did they try looking on the doorstep? Somebody else's doorstep.

    1. Terry 6 Silver badge

      But they normally get a refund from a regular e-retailer ( in the UK at least).

      Happened to Younger Daughter last week. Amazon delivery said item had been left in lobby of flats.She didn't receive it. They refunded her.

  14. Anonymous Coward
    Anonymous Coward

    A life free of social media is bliss

    I comment here, otherwise I have no true social media presence.

    I get a few scam SMS messages but these are outrageously obvious.

    Stop.

    Think.

    Don’t act.

  15. Anonymous Coward
    Facepalm

    "8 percent were due to online shopping trickery, 53 percent were related to investment scams, 14 percent romance bait, and 27 percent".

    I totally and blindly believe those percentages.

  16. Anonymous Coward
    Anonymous Coward

    Facebook are benefiting financially from these scams

    Facebook refuse point blank to remove scam sponsored adverts, claiming that they do not go against community standards, at least until the purchased ad exposure runs out.

    Facebook refuse point blank to remove scam Marketplace adverts, in fact many get listed as "today's picks", with the same car being listed by different people hundreds of miles apart. Not against community standards.

    Facebook refuse point blank to remove catfish accounts, even when the photos used are easily found online, claiming that they do not go against community standards.

    Call a scammer a scammer, however, and that's Facebook Jail time.

    Until Facebook are held legally accountable for their deliberately lax attitude towards scams, these scams will continue to proliferate.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Other stories you might like