Examining the Relationship between Social Media and Intention to Invest in an Investment Scams among Students

Abstract

The advancement of social media platforms has enhanced communication sharing, interaction and information access. Importantly, the platforms become an integral part of the lives of today's students in updating themselves with current issues around the world and staying informed. Social media offers scammers opportunities to create fake profiles, leading to confusion between genuine investments and scams. However, alongside the benefits, social media also exposed students to deception such as being scammed. Students can be susceptible to falling prey to investment scams that offer high yields with low risk. Students must exercise caution online to avoid falling for fraudulent schemes. Vigilance in evaluating online content is crucial for their financial safety. Therefore, this study was conducted to examine the influence of social media on the intention to invest in investment scams among students. Data was collected among students at Universiti Teknologi MARA, Cawangan Negeri Sembilan. This study employed a quantitative method to collect primary data through an online questionnaire survey. The findings indicate a significant association between social media and intention to invest in investment scams. This study contributes to the existing literature on both social media and investment scam context and offers valuable insights to the policymakers, regulators and social media operators in combatting the fraudulent investment issue.