While social media marketing is really a helpful tool for many businesses in promoting their products and services to a wide consumer base, it would also open up your company to a new avenue where fraud can occur.
Unfortunately, due to the highly open nature of most social networking sites, you may be open to attacks from unscrupulous persons who are just out to get your money or to destroy your company’s reputation. As such, you must always be on guard to help in falling into a social media fraud situation.
Here are some things to remember:
Avoid closing deals without a proper background check:
One of the most common examples of fraud would be dealing with people who cannot accomplish their end of the deal. You may have agreed to sell your products to them but would realize that they would not pay you after you have sent the items.
To ensure that it is not a fraudulent transaction, you may want to do background checks with the person you are talking with. You may want to ask for referrals and other information to ensure that they are trustworthy enough to deal with.
The roles could be reversed!
You may actually be the one who is committing fraud through social marketing. This would happen if you would advertise falsely, make untrue claims, or outright lie about your business’ capabilities. Some people may think that you are an excellent company, but your failure to do what you are claiming may lead them to think that you are a fraud.
As such, you should ensure that your company would be truly able to hold up on their end of the bargain and do whatever they claim on their social media marketing pages.