Warning about fake social media profiles

Fake profiles are a major problem on social media today. These can be deceptive in several different ways. Here, lawyer Lars Olofsson and behavioural scientist Nina Jansdotter discuss online scams and red flags you should be aware of.

There are many reasons why someone might contact you via a fake profile.

It could be that the person behind the profile wants to carry out a so-called romance scam. These work by “catfishing” the victim – namely fooling them that the other person is in love with them. In reality it is nothing more than a scam to get your money.

- You are fooled into thinking that it is a love or life partner that you have just met online. The reality is you will lose a large amount of money," says Jansdotter.

According to Jansdotter, author of the book Love Scam, the new love scams of our time, many people feel so devastated by this type of fraud that they usually don’t tell anyone and do not report the crime. Those who have been victimized and deceived by a fake profile often feel ashamed that they have been, in their opinion, "stupid and naive". However, according to Jansdotter, it is important to remember that they are victims of highly skilled international gangs who are experts in social media scams.

- Every week I hear from at least several people who have been scammed by joining a crypto network and investing money based on a tip from a fraudulent source, says Olofsson.

Therefore, it is important that we increase our knowledge of how fraudsters act.

Another kind of scam that is commonly pitched online via people using fake profiles are investment scams. The person on the other side of the fake profile wants to persuade you to invest in either a traditional or more and more commonly, crypto investment, or some combination of the two. These kinds of scams also do not end well, and most people lose all their money.

These kinds of scams are increasingly endemic because they are so hard to prosecute, especially over international borders.

How is it that these profiles can be maintained and continue to commit fraud via social media such as Facebook?

- These scams have increased dramatically, mostly through social media marketing, where the control of fake profiles and claims is non-existent. This has become the scammers first choice of place to find new victims, says Olofsson.

He also adds that investment fraud will probably unfortunately increase in the future as few people are convicted of these crimes.

There are several signs that a social media profile is fake and has been created to commit fraud. Here are some common signs to look out for:

Newly created profile
Many fake profiles are newly created, but this is not necessarily the case.

Limited activity
A fake profile often has little, or no activity and few people comment or like the posts they have made. Obvious errors such as spelling mistakes of past employers with few or many followers

Stolen photos
If the profile looks like a good-looking model, this is a warning flag. Fake profiles often use pictures they have taken from the internet. Google the image and see if you can find the picture with a different name than the person writing to you.

Incorrect information
If the profile's information or details appear to be inaccurate or contradictory. Is there a person with that name in the city or country they claim to live in?

Think about it
It is always good to be critical of your sources when interacting with new and unfamiliar people on social media. Ask questions and be critical. Especially if the conversation starts to be about money. Whether it's about borrowing or investing money.

More information:
Lars Olofsson is a lawyer working on several large class action lawsuits representing a large number of victims of various investment frauds. These victims are located all over the world.

Read more about his work on these cases through the links