Social media is a convenient tool, but it can be costly.
In 2021, over 25% of people who reported losing money due to a scam said it started with a social media post or message, according to the FTC.
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Randy Hutchinson, Better Business Bureau (BBB) of the Mid-South President & CEO, told Wake Up Memphis Wednesday crooks love social media because it’s so easy to create a fake persona.
He also said scammers will use social media user’s heart strings to drain their bank accounts.
More than a third of people who lost money in a romance scam say it started on Facebook or Instagram, the BBB reported.
“If someone appears on your social media and rushes you to start a friendship or romance, slow down. Never send money to someone you haven’t met in person,” he shared with morning show host Tim Van Horn.
For more advice on avoiding a social media scam, listen to the full interview below:
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