Social media fraud: everything you need to know

You have probably seen them already: social media ads with irresistible offers. 90% off branded clothing. A gadget promising unbelievable results. You want to click, but you hesitate: is this too good to be true? 

By fake ads, we mean misleading advertising on legitimate platforms such as Facebook, Instagram and TikTok. They are designed to make you click and buy something or share your details as quickly as possible. In the best-case scenario, you receive a poor-quality product. In the worst-case scenario, fraudsters gain access to your bank details or bank account. 

Why are you seeing fake ads?

“Is it possible to have fake ads on Facebook or Instagram?” Yes, because anyone can buy ads on social media, including legitimate companies and scammers pretending to be well-known brands or businesses. As these ads appear alongside normal content, it can be hard to tell the real ones from the fake ones.

On top of that, social media platforms use highly accurate targeting techniques. Based on your likes, comments, and even your search and browsing behaviour outside the app, the platforms show you personalised ads. They show you exactly the kind of gadget you are likely to fall for. Precisely the pair of shoes you were looking for.

 

"Even the comments under ads and the profiles behind them can be fake."

 

Why are fake ads now more common and harder to spot?

Not so long ago, creating a website and designing advertisements was time-consuming and labour-intensive. Nowadays, however, anyone has access to powerful AI tools that can generate text and images in seconds, as well as videos, audio files, fake profiles and testimonials. Has an ad or website been taken offline? A new version often appears almost immediately.

This form of online fraud is therefore not only becoming more common, but also increasingly convincing.

Don't get caught out. Learn to recognise the warning signs of fake ads.

How can you spot a fake ad? 8 warning signs

• The price or promised results seem too good to be true.
• The advertiser’s name or the URL linked to the ad differs slightly from the official brand or company channel.
• The visuals look amateurish (blurry images or generic stock photos), or on the contrary, 'too perfect' (AI-generated).
• The text contains spelling mistakes or appears to have been machine translated.
• The ad uses photos or AI-generated videos (deepfakes) of famous people supposedly recommending the product.
• A recognisable or emotional story is used to play on your emotions, such as a small business owner who cannot find buyers for their handmade goods or an unfairly dismissed former employee who shares a secret that could ‘ruin’ their ex-employer.
• The offer creates a sense of urgency, with limited stock, secret sales and temporary promotions.
• The comments below the ad are excessively positive or repetitive. 

What can you do to protect yourself?

• Do not click impulsively. Check the ad for the warning signs of fraud listed above.
• Check the advertiser’s profile too. How long has the account been active? How many followers does it have?
• Only use legitimate channels of well-known brands or companies. Do not click on the ad itself, but search for the official website via a search engine such as Google instead.
• Thinking of buying something from an unfamiliar webshop? First, check the European Consumer Centre's WebshopCheck. Look for reviews on an independent platform such as Trustpilot.

What if you have clicked on a suspicious link?

Have you clicked on an advert and realised that the website is not trustworthy? As long as you don't make a purchase or enter personal details, simply clicking is usually no reason to panic. Close the page and report the ad to the social media platform.

Did you buy a product or service that was not as advertised? Or has the delivery failed to arrive altogether, leaving you unable to contact the seller? The Economic Inspection Service of the FPS Economy may be able to help.

Have you shared confidential banking details outside the secure environments of Easy Banking App or Easy Banking Web, Wero, Apple Pay, Google Pay or Bancontact (e.g. PIN code, credit card CVV code or Easy Banking App password)?

• Check your recent transactions for any suspicious activity.
• Contact our customer service team at the Easy Banking Centre on +32 2 762 60 00. (They are available Monday to Friday from 7am to 10pm, and Saturday from 9am to 5pm.)
• Outside of these hours, and only if you suspect fraud, you can call the emergency number: +32 2 433 43 75.
• Call Card Stop immediately on +32 78 170 170 to block all your bank cards. Alternatively, you can block your debit card(s) directly in Easy Banking app.
• By calling the same number, you can reach FraudStop 24/7 to help stop the fraud.
• If necessary, report the incident to the police and provide your BNP Paribas Fortis advisor with a copy of the report.
• Check via Easy Banking App (Settings > Security > Devices with our apps) or Easy Banking Web (Settings > Access to our apps) which devices have your banking app installed, and remove any suspicious or unknown devices. 

 

"Have you been scammed? It can happen to anyone."

 

Forewarned is forearmed

The most important rule to remember? Stay alert when an offer seems too good to be true. In the best-case scenario, the ad is misleading. In the worst-case scenario, it is outright fraud.

Fake content is evolving rapidly and becoming increasingly convincing. Anyone can fall victim: young or old, experienced internet user or not.

Keep informing yourself and never let embarrassment stop you from reporting fraud or talking about phishing and online scams.