This time of year, Facebook seems more like Scambook. Just a few days ago we warned you not to fall for the "secret sisters gift exchange" scam. This Facebook post asks you to purchase one gift for someone else at the cost of $10. In return, the scammer says that you will receive between six and 36 gifts for yourself.
The newest scam spreading on Facebook is the "Blessings Loom." Sounds legitimate, who would not want to receive a blessing, right? Do a search on Facebook for Blessings Loom and you'll see a ton of results.
This is why I want to bring it your attention before it's too late for you. As a matter of fact, anytime I bring you news like this, it's always a good
As a matter of fact, anytime I bring you news like this, it's always a good idea to share this post on Facebook. Hopefully, together we can prevent others from being taken.
How it works
By the Blessings Loom post on Facebook, you see an image. It shows a diagram that looks a lot like the image posted at the top of this article. The post tells you that you need to contribute money to a PayPal account. Usually, this is $100.
Then, you need to recruit two other people to do the same. When the diagram is full of various people's names and they also have contributed the $100 and recruited two other people, you get your payout. You are promised $800 in return for your $100 investment.
It's a Ponzi Scheme
Stay far away from this scam. These schemes are well-known for taking money and returning nothing. It's the classic stealing from Peter to pay Paul. If you do see this scam on Facebook, report the post.
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