Social Media Scams - New Dog, New Tricks
In an age where scrolling through social media is as common as your morning coffee, scammers have followed the trend—and they’re not subtle about it. According to Chase, nearly 50% of scams reported by their customers begin on social media. From fraudulent ads to fake relationships, these scams are not only widespread but dangerously effective—especially when they trick users into sending money using methods that offer no protection.
Let’s break down what’s happening, why it's risky, and how you can keep your money (and sanity) safe.
Why Social Media Is a Scammer’s Playground
Scammers aren’t lurking in dark alleys anymore—they’re in your Facebook Marketplace, Instagram DMs, and fake business pages. These fraudsters push fake ads for:
Tickets
Cars and car parts
Pets
Apartment rentals
Electronics
Clothing and jewelry
Home services
Even jobs
Many of these ads look legitimate at first glance, using stolen images and believable prices. But there’s one thing they all have in common: a request for risky payment methods.
Zelle®, Wires & Other Payment Traps
Chase has issued a major warning: If you're paying someone through social media with Zelle® or a wire transfer, you’re likely out of luck if it’s a scam. These payment methods don’t come with purchase protection.
Here are the forms of payment that do not offer purchase protection:
Zelle®
Wire Transfers
Cash
Checks
Cryptocurrency
Gift Cards
That means if the item never arrives, is damaged, or not as described, you’re unlikely to get your money back.
In contrast, credit cards often include purchase protection, making them the safest option when you’re unsure.
Red Flags to Watch For
Before you hit "Send" on any payment, ask yourself: “Am I sure this isn’t a scam?” Then check for these warning signs:
The price seems too good to be true
You’re being rushed to pay quickly
The listing includes images that can be found elsewhere via reverse image search
The seller only accepts payments via Zelle®, crypto, or wire
The business doesn’t exist outside social media
You’ve never met the “friend” or “romantic interest” in person
Common Scam Examples
Fake Pet Sales
Scammers post adorable photos of pets for sale. Once you send a deposit, they disappear.
Apartment Listings
They’ll copy real rental ads and ask for a security deposit via Zelle®. Once you pay—poof, they’re gone.
Job Offers
Scammers offer fake remote jobs that require a fee to apply or “training costs”—or worse, trick you into laundering money.
Investment Tips from Strangers
If someone you’ve never met tells you to “invest” in crypto, stocks, or startups via social media—don’t.
Selling? You’re Not Immune Either
Scammers aren’t just targeting buyers. Fake buyers will:
Send fake screenshots of Zelle® payments
Claim they overpaid and ask you to refund the difference
Say you must “upgrade your Zelle® account” or “increase your limit” by sending them money first
Fact: There is no such thing as a Zelle® business upgrade or payment limit fee.
Chase’s Response: Blocking High-Risk Zelle® Payments
To help prevent fraud, Chase will now block Zelle® transactions that appear to come from social media interactions. It’s a step toward stopping scams before they start.
How to Protect Yourself
Don’t send money to people you don’t know or haven’t met in person.
Only use payment methods with purchase protection—like credit cards.
Verify listings and sellers independently—especially for apartments, pets, or cars.
Never pay for job applications or training materials.
Report fraud immediately to your bank.
The Takeaway
Social media is a powerful tool—but it’s also a hunting ground for scammers. Before you send money, slow down. Ask questions. Verify everything. And remember:
If something feels off, it probably is.
When in doubt, walk away. Your wallet will thank you.
