Written by: Saman Khalid
Posted on: June 03, 2025 | 
Influencer scams are common these days.
"Money makes the world go round". This isn't a mere saying, but a secret code to the way everything works. It would be redundant to harp on about the significance of financial abundance. The question to be answered, however, is which lines can and cannot be crossed in the pursuit of money. The rapid rise of digitalization has levelled the ground for numerous scams and dubious money-making schemes. While there are several categories of financial scams, this article will solely focus on the gimmicks enacted by social media influencers that consumers need to be wary of.
A Ponzi scheme layout
In simple terms, a pyramid scheme is an unsustainable business model that functions by incentivising "investors" to recruit new participants. The top recruiters promise handsome gains to those at the bottom, effectively trapping them into putting thousands on the line. Most people fail to bring in fresh recruits after the initial deposit, and are left with nothing at all. As is evident from the name itself, a pyramid scheme is designed to benefit the original creators only, since it relies heavily on manipulation and the fraudulent selling of non-existent profits. In today's cut-throat world of inflation, almost everyone is looking for fast ways to make loads of cash. Influencers take advantage of this human weakness in order to sell their get-rich-quick schemes to gullible viewers.
Pyramid schemes
These are huge markets with countless opportunities. However, it takes an exorbitant amount of skill, knowledge, assessment and planning to actually utilize them. Jumping headfirst into the unpredictable world of stocks and crypto can cause investors to suffer exponential losses, unless it is backed by solid research and educated decision-making. That said, not everyone displays the willingness to put in the work. That is where social media quacks take over. They pretend to be experts on everything, from forex trading to the stock market to Bitcoin and beyond. With nothing but high-sounding claims, they persuade their audience to make extremely risky financial decisions without shedding light on the potential harm. To make things worse, there is absolutely no way to hold them accountable, as they simply get away with their deception by flagging all their statements as "general advice". This presents an incredibly messy situation; one that every social media user needs to stay away from.
Crypto scams
This is perhaps the most prevalent form of online chicanery. While other scams are more common among finance-related circles, this one fits into every genre. While there is nothing wrong with experts charging for teaching valuable skills, the real issue arises when people with zero achievement and experience launch overpriced courses for their viewers to buy. There are several ways for this to work. In most cases, influencers start off with flaunting a high-end luxury lifestyle and offering highly generic financial advice on social media platforms. When asked about their source of income, they claim to have multiple businesses. Once they have a decent audience, a ridiculously expensive course promising to make you filthy rich in a ridiculously short time is launched. People are deceived into buying such courses in hopes of achieving a lifestyle similar to that of their Favorite influencers, only to find out that their real cash-cow is teaching others how to make money.
Online frauds are prevalent
Apart from this, there are deceitful courses related to marketing, YouTube and other general topics being offered by anyone and everyone with a substantial audience. Most of these hoaxes are often exposed by people who buy the "course", and are robbed of their time and money.
Keeping the above-mentioned shams in consideration, it seems unlikely for a reasonably sensible person to fall for them. However, it is pertinent to mention that online fraudsters bank on their audience's trust, loyalty and psychological vulnerability. Humans have the tendency to follow anyone who claims to solve their problems, especially those relating to money. By the grace of social media, an unhealthy para social relationship is formed between the viewer and the content creator. This creates a power imbalance where the creator has unmistakable influence over the follower, thus leading to exploitation. In short, it is a combination of desperation, and blind trust that drives people to be entrapped by such hoaxes.
Scammers targeting impressionable users
It is actually not that difficult to steer clear of scams if one follows certain guidelines. There is a dire need to recognize that online celebrities are not necessarily our well-wishers or friends, and that worshipping them is not acceptable under any circumstances. Moreover, we need to be cognizant of all the content that we consume. All online activities should be marked by a healthy dose of scepticism so that our weaknesses aren't taken advantage of. Other than individual vigilance, it is imperative to expose social media swindlers so that others can be protected as well.
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