Back to School Savings Revisited
Did you know there are TWO Back-to-School Sales Tax Holidays each year in the state of Florida? Traditionally, families have taken advantage of these...
1 min read
What are Social Media Scams? In social media scams, scammers use social engineering to bait victims into
sharing personal or financial information, clicking on links, or downloading harmful software or applications.
It is important to be wary of social media attacks; as social media is known as the golden goose for scammers, particularly when it comes to investment scams. The Federal Trade Commission has a good article on this topic: Social media: a golden goose for scammers.
The best investments do not come from social media solicitations. These scammers may make it seem like you can get huge returns, but if that was truly the case, legitimate financial advisors would offer those same investment opportunities. “Investing” in cryptocurrencies is big business for scammers, but can have devastating costs for victims. If someone tells you to download a specific platform to invest in crypto, run. There are programs out there where the scammers can control what you see on these platforms, making it look as though you are making big gains, only to steal your money.
Another type of social media scam is the online shopping scam. If you are buying from a company, do your research first. Check them out online. Read reviews and check if they have any complaints against them. Next week, I will share information on another exploited vulnerability that particularly targets young adults: employment scams and student loan repayment scams.
The content on this site is intended for informational purposes only and should not be considered accounting, legal, tax, or financial advice. First Federal Bank recommends that customers conduct their own research and consult with professional legal and financial advisors before making any financial decisions. Links to third-party websites may be provided for your convenience; however, First Federal Bank does not guarantee the reliability, accuracy, or safety of the information, products, or services offered on these external sites. We are not liable for any damages resulting from the use of these links, and we do not investigate, verify, or endorse the content or opinions expressed on any third-party sites. First Federal Bank | Equal Housing Lender | NMLS # 408902
Fraud Talk: Employment and Student Loan Scams
Young adults are particularly vulnerable to employment scams and student loan repayment scams. If not actively seeking employment, it might seem...
Watch Out for These Customer Service Scams
It feels like AI is everywhere today. And while it can be used as a helpful everyday tool, it unfortunately has also been seized on by those who want...