A phishing scam, such as Loyphish, is the practice of sending unwanted emails to users with the intent of tricking them into revealing sensitive information. The email may appear as if it was sent from a legitimate source, such as a financial institution, and will request that you click on a link and update your banking account information. However, the link directs you to spoofed website that looks identical to the bank's official site.
Scammers are using different phishing techniques with Facebook. They have created a spoofed verification page that attempts to steal your personal and credit card information. Instead of reaching out to potential victims via email, the scam starts out as a link to a video or image that is posted by a Facebook user. By clicking on the link, the user is taken to what appears to be a Facebook login page. After logging in, the fake website requests users to update their account security settings and provide additional information, such as a mobile phone number and credit card information. The website then steals the personal information once the user submits the data.
If you're unfamiliar with a link or suspicious of the link destination, do not click it. Pay close attention to the URL and ensure that you are on a legit webpage prior to submitting your sensitive information. If you're unsure, it's best to manually enter the URL on your Internet browser to certify you are on the official website.