'Flipping Money' scammers lurking online in social media ads

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We've recently learned of a new twist on a classic "Flipping Money" scheme that is scamming people out of hundreds of dollars at a time. Fraudsters are luring victims via social media by advertising how easy it is to turn just $100 into $1,000. Younger consumers who are active on social media are taking the bait, responding to ads posted on social media, forking over cash, and coming up with nothing in return. The basic scam isn't new, but the way con artists are hooking victims is. 

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