Protecting Money – Important Overview: Beware of these PayPal scams

Overpayment fraud

In overpayment fraud, fraudsters intentionally send a higher amount than agreed upon. They then demand a refund of the difference before the customer has even checked the alleged overpayment. If the customer pays back the difference in good faith and without checking, this method can lead to significant losses. The dealer association advises only accepting the agreed amount to protect yourself from this scam.

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Triangle fraud

Another common method is the triangle scam. Fraudsters order goods using a stolen PayPal account and have them delivered to an address of their choice. The legitimate account holder demands payment back, while the seller loses both money and goods. According to the dealer association, it is essential to be careful with unusual requests and to check the delivery address in order to avoid such fraud.

Phishing emails

Fake emails claiming to come from PayPal are also among the most common scams. They are trying to access sensitive data such as passwords or credit card information. Such emails often appear urgent or contain links to fake websites. PayPal recommends ignoring these emails and reporting them as phishing directly.

False payments from strangers

Sometimes scammers send unsolicited money asking for a refund – often through the “Friends & Family” feature, which does not offer buyer protection. However, you yourself take advantage of buyer protection for the original payment. Anyone who falls into this trap risks losing the amount permanently. According to ZDF, PayPal support should always be contacted for such requests to check the legitimacy.

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Fraud protection measures

The security of the PayPal account can be significantly increased by taking simple measures. Strong passwords that are updated regularly provide a first layer of protection. Even safer is activating two-factor authentication, which makes unauthorized access much more difficult.

In addition, it is important to regularly check account transactions. Suspicious transactions should be reported immediately. Sensitive data should never be passed on to third parties, especially in response to requests in suspicious emails or messages.

Editorial team finanzen.net

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