Latest Facebook Pyramid Scheme Circulating in Mom Groups

• A pyramid scheme is an unsustainable, illegal investment scam based on a hierarchy that often results in people losing money or personal information, making them vulnerable to an identity crime.
• The Identity Theft Resource Center (ITRC) is currently receiving reports of a Facebook pyramid scheme making the rounds inside mom groups.
• Never share your personal information or money with strangers online. If one of your friends shares a similar scheme, consider the possible ramifications of sharing your information.
• If you think you were the victim of a Facebook pyramid scheme, contact the ITRC toll-free by phone (888.400.5530) or live-chat (idtheftcenter.org) to speak with an expert advisor.

Pyramid schemes have been around for a long time. They are investment scams based on a hierarchical scheme. There are different names and variations, but they leave you vulnerable to losing your money and information.

The ITRC is currently receiving reports of a Facebook pyramid scheme happening inside mom groups. It is not the first time a pyramid scheme like this has made the rounds on Facebook. A few years ago, the ITRC received a flurry of inquiries regarding a Secret Sisterhood Gift Exchange pyramid scheme. This mom group Facebook pyramid scheme is similar – it just impacts a different group of Facebook users.

Who are the Targets?

Moms on Facebook

What is the Scam?

In this latest version of a Facebook pyramid scheme, people in Facebook mom groups pitch the idea that one mom is selected each week, and everyone Venmo’s them $1. The more people that “join in,” the more money you could allegedly receive.

What They Want

While some of these groups may truly be started by moms wanting to help other moms, the groups may also be created by scammers posing as a local mom. Scammers may also join legitimate groups. They are after your money, personal information or both. You leave yourself open to other scams and people you do not know through Facebook and Venmo to get more information and money.

How to Avoid Being Scammed

• Never share your personal information with strangers online. Oversharing can leave you vulnerable to many different forms of identity crimes.
• Beware of sending and receiving money from people you don’t know. Also, be on the lookout for requests above and beyond the challenge that may be from scammers.
• If you do not know the person, be aware there may be an underlying motive that you cannot see that could lead to lasting damage to your identity.

If you have additional questions on this particular Facebook pyramid scheme, pyramid schemes in general, or if you believe you were the victim of an identity crime, contact the ITRC. You can speak with an expert advisor by calling us toll-free at 888.400.5530 or using the live-chat function on the company website. Just visit www.idtheftcenter.org to get started.