From fake investment schemes to shopping discounts, scammers are using social media advertisements to exploit trust, create urgency, and lure users into costly traps. In this edition of The Safe Side , we walk you through scams through social media ads and how to stay away from these. What began as a simple online advertisement promising lucrative stock market returns ended in financial devastation for a 49-year-old Mumbai -based IT professional, who lost a staggering Rs 1.16 crore to a sophisticated cyber fraud network. This incident happened in 2024, suggesting that this scam is not new. In a more recent example of how social media advertisements are being used as gateways for fraud, a Mumbai-based nurse lost nearly Rs 1 lakh after clicking on what appeared to be a simple Facebook deal for a dress for Rs 299. What began as an ordinary online shopping purchase quickly spiralled into a carefully staged scam involving repeated payment demands, fake delivery charges, and false promises of refunds.…