FBI Alerts Companies, Consumers of Social Media Money Rollover Scam

The FBI Las Vegas Field Office wants to inform the public of a scam that takes place using social media platforms and banking apps to solicit large sums of money from victims.

Money flip

The FBI has alerted social media companies to a series of legitimate accounts hijacked by scammers advertising unrealistic money transfer opportunities. These scam artists claim that they will exponentially increase a victim’s funds once provided through Cash App. These scam artists will often have legitimate-looking profiles displaying strangers with large sums of money resulting from their participation in the fraudulent investment.

How is it implemented

The crooks contact the victim directly via a private messenger, often using stolen accounts to the friends of the victim. The scammers will offer higher returns than the victim’s investment without interest or risk. If the victim sends money, the communications are interrupted or the crooks will send fake Cash App screenshots showing that the victim’s money has already increased. They then ask for more money with the promise of more returns than the victim will ever see. Whether the victim has sent money or not, scammers often suggest that the money is pending in the victim’s Cash App account, but require replacing the email address connected to the victim’s social media account. victim by the one provided by the crooks. Once done, the crooks reset the password and take control of the account. Once they have control, the cycle continues, now against the victim’s supporters.


Use two-factor authentication (DFA) when available. Although many find it annoying, the DFA prevents accounts from being diverted simply by reset by e-mail. This avoids many forms of account hacking and can also alert users of hacking attempts.

Do not change your account information based on outside requests. There is no legitimate reason to replace your account information with someone else’s. The Cash app is not locked by social media settings and anyone trying to convince you otherwise is likely trying to access your information. Be careful.

Do not click on links and check who you are chatting with. If you have an unusual conversation with someone on social media and they’re trying to solicit money or information from your account, ask them and call them. Talk to your friends live, ask questions, be skeptical and do not click on the links because they can go to a malicious web page. Online, anyone can be anyone else. Trust, but verify. If the money transfer application has a safety pine function which requires a spindle input before allowing a transfer, use it!

Learn more about the FBI

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