In a recent statement from his office, Delaware Attorney General Beau Biden
warned investors to be on the lookout for social media scams. His concern
comes because more and more people are using social media sites like Facebook
to connect with friends and family. In the statement, Biden said that
scam artists are also using these sites to lure in their victims.
Fraudsters are taking advantage of social media sites to create a sense
of affinity with potential victims before selling them on stock scams and
investment fraud. In other words, the fraudster will use the cozy, friendly environment
of a social media site to manipulate your trust. The statement from Biden
specifically named Facebook, Twitter, LinkedIn, and eHarmony as popular
places for scammers to operate these
social media investment scams.
Biden advised investors to be careful of offers that come through these
avenues. He reminded investors to always ask for a prospectus, do some
background research, look out for promises of
high returns, and limit the access others have to your personal information on these sites.
Delaware investment fraud attorneys with Meyer Wilson concur, and hope all investors will heed this word to the wise.