Keep your online banking secure by avoiding these 4 social media scams

Millions of dollars are lost to scams every year, and increasingly this is happening through social media channels. According to Scamwatch, social media scams have already cost Australians over 5 million dollars so far this year. We have heard of internet based credit card scams before, but here are an additional four risks to look out for in your online social networks.


Clickjacking relies heavily on outrageous, attention grabbing headlines. You’ve probably seen this type of headline before – a public figure arrested, a beloved celebrity has passed away, a well known company is suspected of committing a terrible crime. These sensational headlines create just enough curiosity to grab attention and encourage victims to click on it. When people do so, it will take them to a page with malicious code that can be used for any number of reasons. To avoid clickjacking, don’t be tempted by potential scandal and get your news from reliable sources.


Pharming is a form of phishing that takes place on social media platforms. Scammers using this technique will usually share a link to a common website, whether it’s a bank, online store or news outlet. The link will actually take you to a page that is a superficial clone of the official website in an attempt to have you log in. Your login details will then be recorded providing scammers with access to your account at the real website, or even multiple accounts at varying websites if you use the same login details across these platforms. Make sure you check the URL’s are genuine and keep your security software up to date to avoid falling victim to pharming.

“Free gift cards”

These are social media posts that offer you free gift cards in exchange for some of your details. They will frequently ask you to create an account in order to receive the gift card, and sometimes this may include credit card or bank account information. These scams often take the position of a new company that has partnered with a well known brand and are offering the gift card as a membership incentive. Be wary of unknown companies offering gift cards for other businesses.

Facebook cons

There are a number of scams unique to Facebook that disguise themselves as being services that Facebook offer. These include the dislike button, the option to see who has viewed your profile, and a fake alert that your page has been deactivated. Facebook does not offer a dislike button nor does it record who is viewing your page. By engaging with posts like this you are often required to fill in a survey and provide personal information. Further, the account deactivation scam is merely trying to get your Facebook login details to target more users. Don’t be tempted, Facebook will alert you to new services via alerts.

Keeping up with scams can be difficult, but regularly visiting you can stay up to date on social media scams. For more information about financial security, get in contact with Beyond Bank today.