NBC News: Scammers Using Instagram to Pull Off Money-Flipping Schemes

NBC got their hands on a copy of ZeroFOX’s latest research, Post Grams Not Scams: Detecting Money flipping Scams on Instagram Using Machine Learning.

NBC broke down how money-flipping schemes work: ‘Scammers often flaunt wealth and talk about investment opportunities target people who have just begun following a financial institution on Instagram. If a person accepts a scammer’s request, they will then receive a direct message offering a way to get in on the deal if they just hand over money and are willing to share a cut of the fake investments.’

Read the full article here.

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