Do you know who your teen is in touch with on social media?
Crooks use Instagram, Snapchat and TikTok to separate teenagers from their money, either by receiving their bank details or by scamming them into acting as “money mules”.
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Crooks use social media to separate teenagers from their money, either by looking up their bank details or through money mule scamsPhoto credit: Getty
Philip Robinson, director of fraud prevention at Lloyds Bank, said: “Scammers are popping up on social media with offers to make quick cash by withdrawing money from their account. They use fake photos and profiles to attract people. “
The Sun has seen dozens of accounts that promise easy ways to make quick money.
However, these are scams in which young people lose their money or even have a criminal record.
Ashley Hart, chief of TSB fraud, said, “The overwhelming majority of scams now involve social media, either directly or through the use of personal information from the platforms, and money mules recruitment is widespread.”
Here we introduce some of the most common tricks used on social networks.
Recognize disadvantages in social networks
THE Lender TSB has the following advice:
- WATCH OUT FOR CELEBRITY REGULATIONS. Scammers often use fake pictures or celebs or quotes to scam you on social media. As The Sun reported on Friday, an NHS nurse lost a month’s salary to a fake currency dealer recommended on Katie Price’s Instagram page. Don’t trust something because it has a familiar face.
- GO DIRECTLY. When you see an ad for a product you like, go straight to the company’s official website. Don’t buy through messaging or social media.
- PAY SECURELY. Avoid bank transfers and insist on paying by card or PayPal (use the ‘goods and services’ option, not ‘friends and family’). That way you can get a refund.
- NEVER SHARE YOUR DATA. Payment options for “borrowing” your bank account for money transfers or using your card details are all disadvantages. You will act as a money mule and could go to jail. You will find it practically impossible to get a loan for years to come.
Money mule
CROOKS post pictures of bundles of money claiming that social media users can make quick money by “cash flipping”.
For example, they could send you £ 1,000 on the condition that you send most of it. . . but can keep £ 200 for your efforts.
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Scammers post pictures of bundles of money claiming that social media users can make quick money by “cash flipping”Photo credit: Getty
It sounds simple – tempting even. But it’s money laundering and a criminal offense.
Money laundering allows fraudsters to use money that they have acquired illegally – for example through fraud, drugs or other criminal activity – without it being traced.
Even if you don’t realize that you are being used as a money mule, it is possible that you have a criminal record.
You may be prohibited from having a bank account or opening credit accounts in the future, e.g. B. to buy a cell phone or take out car insurance.
Almost 6,000 14 to 18 year olds were made to become money mules in 2019.
According to the fraud prevention agency Cifas, that means a 73 percent increase in two years.
Good business goes wrong
WHEN Sam *, 15, saw a seller on Instagram selling Nike Air Jordan sneakers for £ 200, he thought he’d found a brilliant offer.
He wrote the seller a message and agreed to pay the purchase price by bank transfer.
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Sam * saw a seller on Instagram ad coaches for £ 200Photo credit: Nike
But it was all a scam and Sam never received the goods he paid good money for.
Fortunately, his bank – Lloyds – returned the sum after telling her what had happened.
Sam admitted, “Now I feel stupid for falling for a bargain.”
- * Names have been changed to protect identities
Debit Refund Fraud
KELLY * was struggling to pay her bills when she saw an Instagram post promising to get them refunded.
But it was a scam and she ended up taking £ 2,181 out of her pocket.
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Scammers use social media to lure victims by claiming they can recover direct debit and debit card paymentsCredit: Alamy
Scammers are using social media to lure victims like Kelly by claiming they can reclaim direct debit and debit card payments for services like Netflix and Uber Eats, as well as auto insurance and phone contracts.
Once you provide your online banking details, they will request refunds on your behalf via direct debit – a system that allows real customers to dispute payments that they believe have been incorrectly charged.
The refund will appear in your account and you will pay the fraudster 50 percent of their fee.
But the companies making the refunds will question them and if they prove that the payments were indeed made correctly, your bank will repay them so you don’t pay the fraudster’s “fee”.
Why Electricity Bills Are Up By £ 150
ENERGY companies are urged today not to increase their bills to the new, higher price cap.
On Friday, Ofgem will raise the typical user cap by £ 150 to £ 1,288.
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Ofgem will raise the typical user cap by £ 150 to £ 1,288 on FridayPhoto credit: Getty
Large energy companies usually have tariffs set up to the ceiling or within £ 1.
But the upper limit should be an absolute limit, not a target price.
The move affects 11 million families on “standard” tariffs – those who have not changed provider in the past year.
Your annual bill will grow from £ 1,138 to around £ 1,288 – a high since the cap was introduced in January 2019.
Ofgem sets the upper limit, taking into account the wholesale cost of gas and leccy to suppliers.
The chief of supervisors, Jonathan Brearley, explains the climb and what you can do.
NEWS that energy costs are rising will be especially difficult for many families grappling with the effects of the pandemic.
As countries emerge from lockdown, global gas prices have hit record highs.
Unfortunately, this drives up prices for families, including electricity and gas.
There is an upper energy price limit for customers who have not changed.
It acts as a safety net by setting an upper limit on how much energy companies can charge for each unit of electricity and gas they supply to their customers.
The cap allows them to pass on only legitimate costs and prevents suppliers from making improper profits.
They can’t charge customers more than the cap even though they charge less.
As the energy regulator, Ofgem updates the upper limit twice a year.
RECORD PRICES
Record gas prices will be reflected in the new cap and could add around £ 150 to bills from October 1st.
This will affect around 11 million customers with variable or failure rates and four million with prepayment counters.
Record gas prices have already driven up the prices of fixed-contract deals entering the market.
My message to all Sun readers who are concerned about paying their utility bills is to contact your supplier to access the support available.
Shop around for a better deal.
We have strict rules to make sure they are helping their customers, especially the weak.
Where no help is given, we will not hesitate to act.
How to switch
- USE price comparison websites or call various energy companies to find out what you can save by switching provider.
- Be aware that price comparison sites won’t take into account the higher price cap until October 1st. By comparing deals beforehand, you should be able to save even more than advertised.
- FOR those who do not want to or cannot change their utility, contact your utility company. It should be able to get you a better deal.
- It can take up to 21 days for a switch to complete. Usually it takes about 17 days.
Conman, who led a high life on £ 24,000 Porsche and £ 1.2 million cash, was sentenced to 37 years in prison
