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ECU Fraud Talks: Don't Fall for the Scroll

Social media is a great way to stay connected, but it's also one of the fastest-growing ways scammers reach their victims. In 2025, consumers reported losing an estimated $2.1 billion to scams that started on social media.

Knowing how these scams work can help you recognize the warning signs and protect your personal and financial information.


Common Social Media Scams

Fake Online Shopping

Scammers create fake advertisements or Marketplace listings offering products at prices that seem too good to pass up.

You may pay for an item that:

  • Never arrives
  • Is significantly different than advertised
  • Turns out to be counterfeit

The goal is to convince you to act quickly before you have time to verify the seller.

Remember: Research the seller, read reviews, and be cautious of deals that seem too good to be true.


Investment Scams

Investment scammers use social media to promise quick profits or promote expensive programs that claim to teach you how to build wealth.

They may claim:

  • You can earn guaranteed returns
  • You'll make money with little or no risk
  • A limited-time opportunity requires immediate action

These scams are designed to create excitement and pressure you into making a payment before doing your research.

Remember: Legitimate investments never guarantee profits or pressure you to act immediately.


Romance Scams

Romance scammers build relationships online by using information from your social media profile to gain your trust.

Once they establish an emotional connection, they often ask for money by claiming they have:

  • A medical emergency
  • Travel expenses
  • Financial hardships
  • An unexpected crisis

Their goal is to manipulate your emotions and convince you to send money.

Remember: Never send money to someone you've only met online, no matter how convincing their story may seem.


How to Protect Yourself

To reduce your risk of becoming a victim:

  • Limit who can see your posts and personal information by updating your privacy settings.
  • Be cautious about what you share online, as scammers often use personal details to make their stories more believable.
  • Verify sellers before making purchases by checking reviews and researching the business.
  • Be skeptical of offers or investment opportunities that promise easy money or unbelievable deals.


If You Think You've Been Scammed

If you believe you've fallen victim to a social media scam:

  • Contact your financial institution immediately.
  • Report the scam to the social media platform.
  • Report the incident to the Federal Trade Commission.
  • Monitor your accounts for unauthorized activity and report suspicious transactions as soon as possible.


We’re Here to Help!

If you believe your personal information or ECU accounts may be compromised, contact us immediately.

For additional fraud prevention resources and security tips, visit ecu.org/security.