Cheshire Police warn teenagers to be wary of social media scam

Police are warning young people to be on their guard over a social media scam.

Teenagers and students are being targeted on social media with so called ‘lucrative’ opportunities to get rich quick, which are actually very likely to make them lose money quick.

Cheshire Constabulary’s Economic Crime Unit are aware of reports from teenagers who have been conned out of hundreds of pounds or tricked into ‘money muling’ - laundering criminal funds through their own bank accounts – on the promise of easy money.

The scammers place ‘job adverts’ on social media, generally on TikTok, to make initial contact with victims before they are invited into a WhatsApp chat.

They provide their bank details and are paid a small amount, normally £5, for liking an online video before the conversation moves to messaging service Telegram.

They are then given ‘jobs’ as either traders or cashiers.

Traders are asked to complete several tasks earning £2-3 each time and their earnings appear to be accumulated in an investment or cryptocurrency account.

In order to receive the funds they must pay a release fee of between £80 and £300 to account details provided by the fraudsters. Some victims have made two or three payments before they realise they have been tricked and will never see any money.

Cashiers are encouraged to provide their bank account details and falsely believe they are working for TikTok. They receive funds, which appear to be the ‘release fees’ paid by other victims, before passing these onto the fraudsters’ accounts, while also paying £5 ‘reward’ payments to unsuspecting victims joining the scam. Allowing their accounts to be used in this way constitutes money muling, which is a criminal offence.

PC Jim Day from Cheshire Constabulary’s Economic Crime Unit, said:

“Despite what some ‘influencers’ profess online, there are, unfortunately for us all, no get rich quick schemes. If it sounds too good to be true, then it’s usually a scam. Online fraudsters have continued to become increasingly sophisticated in the ways that they target victims, particularly teenagers, to gain their trust and trick them into parting with their money or allowing their bank accounts to be used to launder criminal funds.

“If you’re bombarded by stories of influencers and others making money online, it’s understandable that you might begin to believe them. These scams lure you in on the promise of easy money but prey on you and leave you significantly out of pocket or at risk of further consequences.

“We urge teenagers and their parents or carers to be alive to the risks of such scams and to steer well clear and avoid being taken in.”

Incidents can be reported to Report Fraud, the UK’s national reporting centre for cyber crime and fraud, on 0300 123 2040 or by visiting its website:

https://www.reportfraud.police.uk/

Further advice on fraud and financial crime is also available at:

https://www.cheshire.police.uk/advice/advice-and-information/fa/fraud/online-fraud/