Fraud Exposed: Breaking Down Fraud on Social Media

Social media has transformed the way we interact, receive news, and even date. Users spend hours on end scrolling through social media, whether it’s Facebook, Instagram, or TikTok. With nearly 5 billion social media users worldwide, social networking has become one of the most popular online activities.  

But because of its popularity, social media platforms have become a breeding ground for marketplace fraud, romance scams, and misleading advertisements. However, these aren’t the only types of fraud and abuse that can take place on social media platforms. 

Social media apps are a popular target for fraudsters because of how easy it is to make an account without having to spend too much time or money. Accounts on these platforms are also easy to hide behind, maintaining anonymity. This makes it easier for fraudsters to conduct a wide range of fraud attacks without getting caught.