Headed for a PayPal Fiasco? Stay Alert to New Scams and Secure Your Money
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Got an unexpected payment on your PayPal account? Before you rejoice, think twice! Scammers are pulling off a new con, and you don't want to be their unsuspecting mark.
Here's the lowdown. Scammers send a phony payment, pretending it was an accident. They immediately demand a refund through the "Friends and Family" option. Fall for it, and you'll find yourself flat out of luck! You won't be able to get your money back once it's been sent this way.
But wait! As soon as they get a refund, scammers start a dispute, claiming their accidental payment was made via the "Goods and Services" transaction mode. PayPal jumps into action, pulling back the money from your account. Before you know it, they have their cash back, and they've stolen your hard-earned dough!
Tips on How to Act
Want to get the last laugh on these sneaky scammers? Here's how to do it: Instead of falling for their refund scheme, send the money back using the original transaction method. In your PayPal app, select "Send Refund," and in a browser, go for "Refund this amount." See them squirm as their trick blows up in their face!
For more detailed guidance, head over to the PayPal website.
Did you know: Scammers may use the "Friends and Family" mode to catch you off guard and lure you into their trap, so always be on the lookout for this trick.
To avoid scams like this:
- Verify Senders: Always verify the identity of the sender, and check that you expected the payment.
- Decline Suspicious Payments: If you receive an unexpected payment, don't accept it. Report the transaction to PayPal right away.
- Use the Right Mode: When selling goods or services, stick to the "Goods and Services" mode. It offers better protection against scammers.
- Monitor Your Account: Keep a close eye on your PayPal account for any shady activity.
Pro Tips:
- Beware of Refund Ploys: Never send money back if someone promises a refund or additional money. It's a scammer's trick to lure victims.
- Avoid Pressure: Scammers rush things to keep you off balance. Take your time to check and confirm details before taking action.
- Enable Security Features: Activate two-factor authentication and keep your account up-to-date.
Report Scams: If you suspect a scam, reach out to PayPal customer support and file a report with local authorities.
Stay alert, stay safe! Don't let these scammers have a chance!
The Commission has also adopted a proposal for a directive on the protection of consumers in the context of the single market, addressing the rise of scams like the PayPal fiasco. In light of the current spike in technology-based general-news scams like this, it's more important than ever to stay vigilant and financially secure.
