There is currently a phishing email circulating in which Instagram threatens to close accounts. If you do not fill in a web form within 24 hours of receiving the message, your account will be lost. In reality, it’s nothing more than a way to collect credentials from unsuspecting Instagram users.
Various media are writing about the latest scam, including Scammed?! †
The scammers get straight to the point. Your account will be deleted within 24 hours for allegedly violating Instagram’s rules. To lodge an objection, you must complete an online form. The link to this web form is included in the email.
Whoever clicks on this URL will be redirected to a page where you have to enter your username and password. What many may just realize is that it is a fake page and fake form. Your login details don’t end up with Instagram but fall into the hands of shrewd cyber criminals.
For these reasons, cyber criminals want your credentials
With this data, they can take control of your Instagram account. Another possibility is that the scammers pose as you to steal the login details of family, acquaintances, friends or colleagues. We also call this identity fraud.
Finally, some internet criminals look to see if you use the same login details for other online accounts. For example, if you use the same password for your PayPal account, they can access your money and finances. It is for this very reason that it is unwise to use the same password for multiple online accounts.