social media scams

SEC Warns of Social Media Schemes After Fraud Case

Regulators are warning the public to be wary of social media sites that could be offering bogus investment schemes. The warning follows civil charges filed by the Securities and Exchange Commission against an Illinois-based investment adviser who tried to sell fraudulent securities through Linkedin.

Facebook Says Data Broker Was Buying User Info

Facebook said that a data broker has been buying information on users from application developers. Certain Facebook apps were sending users%u2019 Facebook ID numbers to third-party marketing or data firms, violating the site%u2019s privacy policies, The Wall Street Journal said. Companies can use an ID number to look up a user%u2019s name and other information.