12 OYS: Money flipping scam targets Instagram, Facebook users

As if there are not enough things to be weary about when you are online, now social media users are being targeted by some scammers promising big bucks for a small investment from you.

(MGN Online)

News 12 at 6 o'clock / Wednesday, Aug. 27, 2014

AUGUSTA, Ga. (WRDW) -- Phillip McCants makes his money helping others find work.

"I have a writing service. I help people with resumes," McCants said.

He spends hours on end making sure his work helps someone else get hired, but when he got an offer to turn his $200 into $2,000 he grew suspicious.

"When I first saw one you know, you think to yourself that would be great," McCants said.

He said he knew better than to take the bait.

"I went and paid a bill with my $100 and just hope I can get $1,000 a legit way," McCants said.

Photos popping up on Instagram and even Facebook are enticing some to give in to temptation. Pictures show piles of money and in some cases, photos of those supposedly successful investors themselves.

"If somebody's telling you that you can take $200 and within a week turn it into $2,000 dollars, no it's not going to happen," said GiGi Turner with Augusta's Better Business Bureau.

She said the scammers convince their victims to buy a prepaid debit card in increments of $100. Then read off the code on the back of the card.

"Once you do that, they have all the information they need to take the funds from that account and then they are going to block you," said Turner.

She said the con artists have only one thing in mind.

"Flip your money that they have flipped from you. So, the only people flipping money are them," said Turner.

As for McCants, he said he plans to continue earning his money the old fashioned way.

"At the end of the day I make my money legitimately," McCants said.

The BBB said do not always trust your friends' taste online. It might not be them "liking" or sharing these scam posts. Their account could have been hijacked or it may be what is called click jacking. That is a technique that scammers use to trick you into "liking" something that you would not otherwise.


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