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Every activity in today’s world is connected to various digital platforms in one way or another. From paying bills and transacting money to booking products and services, we rely so much on the Internet and its services. However, as these services and facilities increase, online fraud also increases. As science and technology develop, online scams become more sophisticated, making them nearly impossible to detect and prevent.
As online transactions have become the new normal, frauds on popular online money transaction platforms have also increased. PayPal being one of the most trusted platforms, has become the prime victim of online scams recently. With easily handleable features, PayPal has already been the favorite among users and it is no wonder why scammers choose this platform for scams. From phishing and bitcoin scams to overpayment and invoice scams, the frauds that appear on PayPal are endless.
The only good news is that by being attentive and alert, most of these scams can be prevented beforehand. However, how do you identify and prevent these scams? This article will guide you through the popular PayPal scams and tips to spot and avoid them. So, let’s dive into the details without wasting much time.
Some common scams on PayPal
As mentioned before, PayPal is slowly developing into a major hub of online scams. From phishing attacks and fake payments to job and shipping address scams, a wide variety of frauds have been reported through PayPal/ some of the most common scams among them are:
Phishing Scams
Phishing is the most common scam and first step to attack a user. In such cases, users receive a message or an email with a link to fake websites that are disguised as PayPal. As the user enters this website, the scammers gain access to the user’s personal information including passwords and credit card details. With time, these spoofed emails are getting better making them nearly unstoppable.
Overpayment Scams
Overpayment scams are increasing with an increase in e-commerce. Such scams are commonly seen against small business owners. Here, the buyers deliberately pay more money, asking the sellers to send back the extra amount. However, the scammers will cancel their payment leaving the sellers with no money and the sold item.
Invoice Scams
The invoice scams can be very tricky as in most cases the invoices sent by the scammers seem real and legitimate. These invoices will have details of the sender, the logo of the company, and other details that may seem reliable to the victim. However, in reality, all these would be cooked up to trick people. These scams may either ask you to send money or provide personal information.
Tips to spot and avoid fake PayPal payments and scams
PayPal being one of the most trusted online payment platforms sends emails only to inform certain things including payment notifications, receipts, and promotional messages. All other PayPal communications are direct, either through their website or app. Moreover, all PayPal communications will address the receiver with their names and not with impersonal greetings like “dear user”. So, look for these hints. If you find any difference in the PayPal emails you receive, make sure whether they are genuine before responding.
Another important factor to look for is the sender’s email ID. The primary email address of PayPal is [email protected]. Account statements of the user and notifications of changes are generally addressed through this email address. Another one is [email protected], which is used to send receipts of transactions. PayPal.me is also a verified email ID of PayPal for sharing your PayPal account and sending money more easily and quickly.
So, every time you receive an email from PayPal or indulge in any online activities related to PayPal, make sure that the emails are sent from or to any of these verified email addresses. Similarly, a little attention can save you from overpayment scams. PayPal has features that help you cancel a transaction. So, ensure that you never pay back for overpayments. Furthermore, if you have already paid, reverse the payment quickly so that you can save your money.
Read More: Tips To Safeguard Your Smartphone Data From Online Frauds
Conclusion
Although the development of science and technology offers various benefits for people, it can also cause potential harm. With the huge popularity of online transactions, buying and selling things and services has become more easy and convenient. Similarly, it also improved possible risks and frauds. Disguising or pretending to be someone else is easier when on a digital platform. The same led to the rapid increase of spam and fraud on online platforms like PayPal.
However, with each passing day, these PayPal scams are getting better making them difficult to identify, with a little attention and by being alert you can avoid most of these scams. Ensure that you are dealing with genuine websites and emails before responding abruptly. Make sure the emails and platforms used for communication are verified and official. Furthermore, avoid opening unnecessary links and messages that appear on your phones. So, with little attention, you can save your money and reputation.
