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Released: October 19, 2011
Watch out for social media scams
Source: Michelle Singletary, Washington Post (Free Registration)
Your social media account on Twitter or Facebook may have connected you to a forgotten classmate or sweetheart, but it can also lead you straight into the hands of a predator.
All this Internet openness has made it much easier for people to be preyed upon by con artists who specialize in affinity fraud, using someone’s connection to certain groups to gain their trust and ultimately their life savings.
The North American Securities Administrators Association (NASAA) recently warned investors to look out for shady investment deals pitched by people they connect with on social networking sites. State security regulators warn that con artists are using the information you post to make highly targeted pitches within your social group.
Read Full Article: Watch out for social media scams
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