Scammers are hashtagging their posts with the same tags banks use in order to initiate a scam.
Who Is It Targeting: Instagram users
What Is It: Scammers are targeting people who follow banks on Instagram by hashtagging their scams with the same tags a bank might use. The scammers use fake accounts to comment on the credibility of the “service” and emojis to spark interest. The scammers then send a direct message to the individuals about their “services.” The goal of the scammers is to convince victims to give them generally between $50 and $1,000 with thepromise it will be returned 10 times as much.
What Are They After: Account information, money orders.
How Can You Avoid It: Prioritize your social media privacy and update your account settings. If an offer is too good to be true, it usually is. Never send a stranger your account information or personally identifable information. Report a scam account to Instagram at https://help.instagram.com/
Anyone can be a victim of identity theft, anyone can use our services and anyone can help us help others. If you think you may be a victim of identity theft, please contact us for free assistance at (888) 400-5530. If you found this information useful, please consider donating to the Identity Theft Resource Center to help us keep our services free to the public.
For full details of this scam check out this article from NBC4i.