Scammers are utilizing adverts and offers on social media to promote their schemes. People reported losing a record high of about $117 million to social media scams in the first six months of 2020. People sent money to non-deliverable online retailers, romance scammers, and false financial assistance offerings. Over half of those who claimed to have been cheated by online frauds said they were defrauded through online social networking applications. Scammers will use various web-based social media apps such as Facebook, Instagram, Twitter, and others to promote bogus and counterfeit ideas under the guise of an opportunity, in the hopes that people will invest in those so-called opportunities, and the scammers will then take their money and vanish.
There Goes my Reward of $23,000…
They make connections with people in order to establish trust, and then they pitch their opportunities to them. Honest people who are committed to the venture invest their money and never see it again. To be more specific, I was one of the people that was duped into purchasing a $23000 diamond ring. Allow me to share a story with you about how I was duped.
I chose to hunt for diamond rings to give myself on April 27, 2021. A modest ring was the only way I could thank myself after years of hard labor and dedicating my life to work. I performed a lot of research, and my Instagram advertising gradually became diamond rings with fantastic deals. I came upon a 2-karat diamond ring with an unbelievable price tag. I went to the page and checked for client testimonials and other information. I bought the ring when I was satisfied with my decision. My payment was made on May 15, 2021. The jewelry store sent me a confirmation email, but that was the end of it. I was promised that I would be given a tracking number and that my order would be shipped right away. To my amazement, I was completely unaware that I had been duped. An Instagram ad fraud cost me $23,000. In a nutshell, I lost my pay for all the late nights and sleepless nights I had put in at work.
The Day Was Saved & I Got My Diamond Back!
Never say never, though, because Chargeback helped me get my money back by following their methods, compiling evidence against them, and filing a lawsuit to recover and retrieve my stolen funds. This recovery fund company had been recommended to me by a friend. I phoned them and made certain to share any and all evidence I had that could assist them in locating the organization. The company then went straight to the target and confronted them once the documentation and pertinent facts were available. The fraud company backed down after seeing the facts and papers and quickly reimbursed me for the money I believed I had lost.
To say the least, if I didn’t have charge backing on my side, I would never have recovered my money, and neither would have been the scam company exposed.
Consumers have been doing more and more internet purchasing for years, and the coronavirus pandemic accelerated the trend. According to retail research firm Digital Commerce 360, e-commerce sales exceeded $870 billion in 2021, up more than 50% from 2019. Cybercriminals are keeping up with the times. The most prevalent sort of scam reported is online shopping. To maintain a sense of balance, I believe companies like Chargeback are here to save people’s lives and money.