Introduction to Paypal
PayPal 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
Some 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
: In the email scam method, scammers send an email and pretend that they paid the money in your account. They ask for a Tracking Number for the shipment, and then they will be released the fund. Be alert, these are the tricks used by scammers. Once the item has been dispatched, the fraudsters will get an item and the seller will eventually realize that PayPal was never holding money for them.
The phishing website looks like the official PayPal website. If the user enters their details on one of the sites automatically all the information including user name, password, phone number, and account details sent to the scammers because it is created by the scammers.
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.
Scammers use all the tricks and methods to steal your money at any cost. Fake charity is one of the methods in which they pretend to be a charity member and ask for a donation to help the people. They make a fake website with a fake charity name and ask for money for donation through PayPal or other modes.
When a fraudster purchasing from a seller overpays for the product and asks to be refunded for the overpayment but with a different account.
How to avoid PayPal scams?
- Look out for red flags before accepting payment through PayPal. If someone offers you to rush shipments, accept partial payments, or payment split up between multiple PayPal accounts are all clear indicators of scammers’ activity.
- If you want to avoid these Paypal scams, block those customers who file fraud claims. Scammers will often target the same seller several times.
- Check the email address when you get an email from PayPal to make sure it’s legitimate or not. If you have doubts about the email, log in to your account to confirm the information.
- PayPal will reimburse you for certain types of fraud if you Sign up for PayPal Seller Protection Program.
- When shipping high-value items, insist on signature confirmation on delivery because sometimes customers with valid certifications may commit fraud out of inexperience or impatience.