Fargo, N.D. (Valley News Live) - The Fargo Police is warning the public about an increased amount of "flipping" scams circulating on apps such as Snapchat. Social media sites like Instagram, Twitter, and Facebook are prime for scammers to promote get rich quick schemes to unsuspecting victims.
Posts promoting “money flipping” are showing up more often in consumer’s news feeds and stories. Usually the post contains a photo of cash and the caption boasts of how easily a small amount can be “flipped” into a large amount. The profile of the poster seems legitimate including photos, followers, and even thank you messages from other “investors”.
Just remember to:
Search Online – Before contacting the social media account promoting the “investment,” search online for their username and phone number. You might find other victims have posted complaints and other information.
Prepaid Debit Cards = Cash – Remember to treat prepaid debit cards as if they were cash. Anyone with the card number and pin will be able to withdraw the money. If you wouldn’t give a stranger cash then don’t give them the account information.
Trust Your Instincts – If it sounds too good to be true it most likely is. Users should trust their instincts and use common sense when trying to supplement their income. Get rich quick schemes rarely have the payback they promise.
Be Aware of Hacker Hostages – While you may share similar interests with your online friends, you shouldn’t trust their online content as it may not actually be them liking and sharing the posts you see. Hackers may have taken over their accounts or they may be victim to clickjacking, a technique used by scammers to trick people into clicking something they normally wouldn’t.