Watch Out for This Scam if You Follow Banks on Instagram

There are lots of good reasons to follow companies on social media — to gain insight into the brand’s priorities, learn about deals, seek inspiration, get behind-the-scenes looks, berate them for bad customer service, and so on. But who you follow on social media isn’t always private, and there are people out there who will use who you follow to try and steal your money. A new report from ZeroFOX, a security technology company, suggests that following banks on Instagram could make you a target for scammers. ZeroFOX used machine-learning tactics to analyze 2 million Instagram posts related to 37 of the biggest U.S. financial institutions and identified more than 4,500 unique “money-flipping” scams among those posts. The good news is the math: Because only 0.24% of the posts were…


Link to Full Article: Watch Out for This Scam if You Follow Banks on Instagram