Scammers Using Instagram to Pull Off Money-Flipping Schemes

A person poses with an iPhone displaying the Instagram logo on Aug. 3, in London, England. Carl Court / Getty Images If the 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 investment. The venue may be relatively new but these are old tricks, Phil Tully, a senior data scientist at ZeroFOX, told NBC News. “Although its newer on social media, these techniques hearken back to the most classic scams in history,” Tully said. The ZeroFOX team built a machine-learning classifier to help predict whether a post is a scam. It looked at everything from hashtags used to advertise money flipping to…

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