Social Media Scam Awareness

Why Social Media Safety Matters

Social media scams have skyrocketed by over 1,000% since 2017, and in 2023 alone, people like us lost a staggering $2.7 billion to these schemes, according to the FTC. More than half of all online purchase scams now start on social media, making it the biggest source of fraud. Even more concerning, one in four fraud victims last year said their scam began with a social media ad or message. That’s why it’s so important to stay informed and take steps to protect ourselves. Learn how to spot scams and keep your finances safe—start by exploring our security tips today.
 

Common Social Media Scams to Watch Out For

  • Fake Marketplaces & Sellers – Fraudulent sellers promote counterfeit or non-existent products.
  • Phishing Messages & Account Takeover Scams – Hackers send fake messages asking for login information, sometimes pretending to be customer support.
  • Romance Scams – Scammers build fake online relationships to emotionally manipulate victims into sending money.
  • Investment & Crypto Scams – Fake "get-rich-quick" investment opportunities that lead to financial loss.
  • Giveaway & Lottery Scams – Scammers claim you’ve won a prize but request personal or payment information.
  • Fake Job Offers – Offers that require an upfront payment, sensitive personal data, or involve fake check deposit scams.
  • Impersonation Scams – Criminals pose as banks, celebrities, or influencers to gain trust and steal money.
  • Subscription Traps – “Free trials” that lock users into expensive, hard-to-cancel subscriptions.
  • Fake Charity & Disaster Relief Scams – Exploiting emotions to trick people into donating to fake causes.
  • Delivery Scams – Fake shipping notifications with links to steal personal information.
  • Survey & Data Harvesting Scams – Scammers ask for seemingly harmless details that can be used for identity theft.
 

Best Practices for Safe Online Purchases

When buying products online, follow these guidelines to protect yourself:

Use payment methods with purchase protection:

  • Credit Cards: Our Visa credit cards come with Zero Fraud Liability, ensuring you're not held responsible for unauthorized purchases if your card is lost or stolen.

  • Debit Cards: Equipped with EMV chip technology, our Visa debit cards provide enhanced security against financial fraud and identity theft.

  • Digital Wallets: By linking your Paducah Bank cards to Apple Pay, Google Pay, or Samsung Pay, you can make secure, contactless payments. These platforms use tokenization to keep your card information confidential during transactions

 

Avoid payment methods that offer little to no protection:

  • Wire Transfers (Western Union, MoneyGram, Zelle, etc.) – Once sent, money is gone.
  • Cryptocurrency Payments – No recourse for fraud.
  • Gift Cards & Prepaid Debit Cards – Often used by scammers to avoid traceability.
  • Venmo, Cash App, or PayPal Friends & Family – No purchase protection for these transactions.
 

Red Flags for Online Purchases

  • Too-good-to-be-true prices – If it's significantly cheaper than competitors, it’s likely a scam.
  • No clear contact information – Legitimate businesses provide real addresses and phone numbers.
  • Stock photos & generic descriptions – Indicates a scam page.
  • Only accepts risky payment methods – If a seller refuses credit cards, it’s a red flag.
  • High-pressure sales tactics – Scammers urge you to act fast to avoid missing a "deal."
 

Tips to Stay Safe on Social Media

General Safety Tips:

  • Set your profiles to private – Limit who can see your personal information.
  • Don’t share sensitive details – Scammers use personal info to impersonate or target you.
  • Use multi-factor authentication (MFA) – Extra security prevents account takeovers.
  • Be skeptical of messages from "friends" asking for money – Their account may be hacked.
  • Avoid clicking on suspicious links – They may lead to phishing sites.
  • Look for verified accounts – Scammers often impersonate brands or influencers.
  • Monitor your bank statements – Regularly check for unauthorized transactions.
  • Use strong, unique passwords – Reusing passwords makes it easier for hackers to gain access.
 

How to Spot a Scam Message or Post:

  • Poor grammar and misspellings – Scammers often have noticeable errors.
  • Urgency & pressure tactics – "Limited time only!" or "Act now or lose your account!"
  • Requests for sensitive information – No legitimate business will ask for your password.
  • Strange payment requests – If someone asks for gift cards, crypto, or wire transfers, it’s likely a scam.
 

What to Do If You’re Scammed

  1. Stop all communication with the scammer.
  2. Report the scam to the social media platform.
  3. Contact Paducah Bank or credit card company if you sent money.
  4. File a complaint with the FTC at ReportFraud.ftc.gov or your local law enforcement.
 

How Paducah Bank Helps Protect You from Online Scammers

At Paducah Bank, your security is our top priority. We provide advanced fraud protection, secure banking tools, and expert guidance to help you stay safe online. From monitoring for suspicious activity to offering secure payment options, we’re here to protect your finances. If you ever suspect fraud or need advice on staying safe, our team is ready to help. Stay informed, stay secure, and bank with confidence at Paducah Bank.