You do not necessarily have to dig it deep either. Instagram has expanded access to authentication for "noticeable" public figures, brands, and organizations. You can now apply for the coveted blue mark by submitting a form via the app, complete with a place to submit photo ID as proof. This increases the potential number of verified users and should reduce the chances of following a fake account.
And yes, it's a security upgrade that comes for everyone. Instagram's two-factor authentication will soon support third-party authentication programs like Duo Mobile and Google Authenticator instead of old-fashioned text messages. Although it's a modest addition, it can protect your account if someone hijacks your phone number. It will be widely available in the coming weeks.
In some ways, these improvements were too late. Instagram has been exposed to Russian-related election interference campaigns, like Facebook, and it's no secret that scammers have been masking as superstars for a while. As imperfect as these solutions may be ("If this account requires you already suspicious), they could ward off deceiver debits that had previously been undiscovered.