Scam of the day – March 21, 2017 – European Commission acts to reduce social media based scams

Social media is an integral part of the lives of all of us and therefore it is often used by scammers to convey scams because people often put too much trust in postings and messages they receive through social media. Cognizant of this fact, the European Commission, led by French consumer authorities have given Facebook, Twitter and Google+ until April 16th to come up with proposals to address the growing number of scams using their social media.  If the proposals of these companies are deemed not satisfactory, the European Commission has indicated it would resort to enforcement actions.

TIPS

This is a positive step by the European Commission.  It starts with the recognition that scams are rampant on social media and then permits the various social media companies to have substantial input as to how they will constructively deal with this problem.  However, if the companies fail to act responsibly in this matter, the European Commission is ready to impose regulations.

As for all of us as consumers of social media services, the most important way to avoid scams on social media is to follow my motto, “trust me, you can’t trust anyone” and always be skeptical of any offer you receive on social media, particularly ones that require you to provide personal information.  In addition, never click on links or download attachments unless you have absolutely confirmed that they are legitimate.

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