Paypal Scams
PayPal scams has become an omnipresent payment method in e-commerce. It is founded in the year 1998. It is easy to use, and users enjoy making payments within a seconds. Rather than PayPal in other traditional methods, the user has to enter their credit/debit card number, security code, expiry date, and address needed every time before login.
Due to the popularity of PayPal among customers, most brokers or merchants offer PayPal as one of the available payment methods. With so many advantages, it also faces a disadvantage like Paypal Scams
Common types of PayPal Scams
Advanced fee scams
In this advanced fee scam method, scammers encourage users to send a small amount of money with the promise of a much larger return. They targeted PayPal users easily because of the difficulty of getting money back.
Email Paypal fraud
Beware of a prevalent email scam where scammers send misleading emails, feigning payment into the recipient’s account. These fraudsters then ask for a Tracking Number for the shipment, stating that funds will be released once the item is dispatched. Remain vigilant, as these tactics are commonly used by scammers. After shipping the item, the fraudsters will receive it, leaving the seller to realize that PayPal never held any money for them. Stay cautious to avoid falling victim to such scams.
Phishing websites
Phishing websites, skillfully designed to mimic the official PayPal site, deceive users into unknowingly disclosing their sensitive information. When users enter their details on these fraudulent sites, scammers gain access to their username, password, phone number, and account details as these sites are created by the scammers themselves. Stay cautious to avoid falling victim to such deceptive tactics.
Hyperlink scam
In hyperlink scams, links may be present within a scam email and claims to be the official PayPal website. But the reality is not true. These links are made by scammers and they will take you to the phishing website.
Fake charities
Scammers resort to multiple tricks and strategies to unlawfully obtain your money. A common ploy is the use of fake charities, where they masquerade as charitable organizations seeking donations to help those in need. These fraudsters establish counterfeit websites under fictitious charity names, urging individuals to make contributions through platforms like PayPal and other payment methods. Stay vigilant to avoid falling victim to such scams.
Overpayment scams
Scammers resort to multiple tricks and strategies to unlawfully obtain your money. A common ploy is the use of fake charities, where they masquerade as charitable organizations seeking donations to help those in need. These fraudsters establish counterfeit websites under fictitious charity names, urging individuals to make contributions through platforms like PayPal and other payment methods. Stay vigilant to avoid falling victim to such scams.
How to Avoid PayPal Scams?
Remain cautious and spot potential red flags when accepting payments through PayPal. Beware of customers pressuring for rushed shipments, partial payments, or dividing payments between multiple PayPal accounts, as these actions may indicate scammer activity.
To protect yourself from PayPal scams, consider blocking customers who have a history of filing fraudulent claims, as scammers often target the same sellers multiple times.
Always scrutinize emails that claim to be from PayPal, verifying the sender’s email address for legitimacy. If uncertain, access your PayPal account directly to confirm any information.
Enroll in the PayPal Seller Protection Program to avail reimbursement for certain types of fraud.
When dealing with high-value items, request signature confirmation on delivery to safeguard against potential fraud, even from customers with valid certifications who may act out of inexperience or impatience. Stay vigilant to thwart potential scams.