Flipping Money Scheme On Instagram

Flipping Money Schemes On Instagram

I still find it amazing that so many people are falling for these get rich tomorrow schemes. Money Flipping Schemes are a scam, no if, and’s, or buts about it. These people target “social media” platforms as a way to gain social influence, especially instagram.

 

How does the Flipping Money Scheme Work?

Usually what happens is there a ton of pictures posted on instagram claiming that people are flipping their money from $100- $1000, $200-$2000, and so on.

Most of these scammers claim they have inside connections with companies such a netspend, vanilla reload, moneypak, green dot reloadable prepaid cards. This is completely false, just a bold face lie to steal your money . This is where the flipping money on instagram scheme gains traction.

They tell you to either call or text a phone number that is openly advertised on the social media platforms, of course this is not their real phone number, and most likely a cheap prepaid phone so that any information can not be traced. Next, they tell you to purchase one of the above mentioned prepaid cards and load it with the desired amount that you want to “flip”.

Then these scammers tell you to give them access to your account by giving them the numbers on the back of your reloadable card. Basically you just threw away the money you loaded the card with. Once they get access to those numbers, they are gone and so is your money.

 

While these flipping money scams are not new, the use of social media networks such as Instagram, Twitter, Facebook, and online classifieds websites like Craigslist to reach their marks is a worrying trend for fraud fighters. Scammers advertise their abilities to ‘flip money’ by posting pictures of themselves or others holding stacks of cash with a caption stating how easy it was to make thousands of dollars in just minutes.

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Tips to Avoid Money Flipping Scams:flipping money schemeflipping money scheme

  • Do a quick search. Before contacting the potential scammer, do a web search of their username or phone number. If it’s a scam, chances are that other victims have posted complaints and information online.
  • Be wary of prepaid debit cards. Wire transfers used to be a scammer’s favorite way to collect payment, but prepaid debit cards are the new preferred method. Treat prepaid debit cards like cash. Once you give away the account info, you will not be able to get that money back.
  • Don’t trust your friends’ taste online. It might not actually be them “liking” or sharing these scam posts. Their account may have been hacked. But it may also be clickjacking, a technique that scammers use to trick you into “liking” something that you wouldn’t otherwise.
  • If it sounds to good to be true… Well, you know the rest. Use common sense when seeking ways to supplement your income. Anyone who claims to be able to turn a small investment into piles of cash in mere minutes is a scam artist.

 

There are plenty of legitimate businesses online, that you can earn REAL money from. Most online businesses require some sort of investment, hard work, and knowledge to be successful.

 

For more information on legit businesses that you can start from home Click Here.