“Money Flipping” Scams Target Social Media Sites

Social Media Money Scam
Photo Credit: TheStar.com

Scam Alert – A fast cash scam going around social media, promising a big return on small investments. Be aware, as the “flipping money” ploy will only leave you in the red.

Kendra Rollins in Spartanburg admits her boyfriend was blind-sided.

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“He showed it to me and he was like look, this person sent in $200 and got back you know $1200. He was like, I can do that, you know we have the extra money, let’s send it in and then we’ll get money back and save that up and then we send some more in,” said Rollins.

The flipping money scheme works like this. Scammers post flashy photos of hundred dollar bills fanned, stacked and stuffed in envelopes on bogus Instagram or Facebook accounts. They claim they can multiply your money through foiling the card system. All you have to do is give them a loaded prepaid card number and pin.

“They’ve got their act together and they have all the right answers when you start asking questions, and it’s just a big setup and they have a network, they can actually say we’ll let you talk to my supervisor and they’ll give you someone else,” said Andre Kerr, the Spartanburg Community College Campus Police Chief.

RELATED: 12 Types of Fraud to Watch For

Fraud.org says in some cases they are even convincing people to send their debit cards in the mail. It sites one victim who says she lost $6000.

The scam is so prevalent, that if you do a search for #flippingmoney, you find more than 45,000 posts, and it’s that shear number that is making more and more people believe.

“Every day there would be someone new claiming to have gotten $1200 to $5000 back after sending money so, that’s why to him it was like this has got to be real,” said Rollins.

Her boyfriend is one lucky guys because Rollins has a good head on a her shoulders.

“Scam alert just went off in my head,” she said.

And she saved him from becoming the next victim.

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