Money Flip or Flop? How to Avoid Falling for Online Scams

Scammers are always cooking up creative new ways to separate people from their money. The sad reality is that it often works. The latest schemes involve so-called "money flipping," and it's showing up in consumers' newsfeeds on Twitter, Instagram, Facebook and even via text messaging. Keep these things in mind when you see an enticing post or are randomly approached by someone about any form of money flipping or "get rich quick" schemes: 1. Trust your gut If it sounds too good to be true, it probably is. You can ignore the testimonials with photos of big piles of cash, the fancy cars and the flashy jewels they displayed with captions of their "success" — scammers may tell you that they work for a money transmitter and have "tricks" on how to double your money. However, monetary systems cannot be "manipulated" by adding a few "extra 0s" to any transaction in an attempt to turn a small investment into big money ...