Are you thinking about buying something? Watch out for these Facebook Marketplace scams running rampant in online social selling.
As Facebook Marketplace scammers take up more time at banks’ contact centers than any other kind of purchase scam, bankers are becoming increasingly concerned about the lack of consumer protections on the site.
With the increasing number of people using Facebook Messenger for shopping, the social network now offers a marketplace where they can buy and sell products via its messenger app.
Though Marketplace was once famous because it allowed people who lived nearby to view what was for sale in their neighborhood, more and more products are being sold across greater distances.
In these instances, products are shipped out, much like other marketplaces like eBay or Amazon. However, unlike those sites, Facebook doesn’t include an in-house payment system, so buyers must rely on third-party providers such as Paypal or Visa/Mastercard. Unfortunately, this means that buyers outside of Facebook’s reach cannot pay via the site itself, exposing them to potential scams.
Three in five reports of social marketing purchase scams received can be traced back to Facebook, which often cost people up to $400. And most of these purchases come from Marketplace.
To protect yourself against scammers who may try to trick you into sending them cash through PayPal, it is best to avoid paying for items online unless you already know the seller personally.
Even then, you should check out any reviews about the seller before parting with your hard-earned cash. Scammers often pretend to ship goods via FedEx or UPS and ask buyers to sign for the package.
They’ll also ask for payment via Western Union or similar services. When the package arrives, however, it won’t contain what was ordered, and the delivery cost will be deducted from the victim’s account.
Phishing email scam involves getting someone to give personal information, such as credit card details or passwords, to a fake website. These sites are set up to look just like genuine ones, but they are run by criminals who can access your data once you’ve entered it.
Unauthorized charges on your credit card happen once a criminal has obtained your diet; they can start charging things on your card without your permission.
Be careful when using the friends and family option because there is no way to recover your money if anything terrible happens. Usually, scammers will block you after they’ve already stolen your money, making it impossible for you to file a complaint.
PayPal offers an optional buyer protection policy, which will refund you if the product is not as advertised or doesn’t arrive. However, you must choose the payment option before purchasing from a seller you haven’t met face-to-face.
Buyers should always check out any deal offered by a stranger, saying: “If somebody tells you they can sell you something for $10, then ask yourself why they would tell you that. It could be because they want to steal your money.”
When someone buys something from you using Facebook Messenger, you don’t know whether they’re buying it from you. So it would be best if you were careful about accepting payment requests from strangers.
If a Facebook user has been inactive for a long time, they might be trying to scam you. Be careful!
When shopping for a motorhome or company van, it’s essential to be careful because criminals may use similar names and descriptions to steal from unsuspecting buyers.
In addition to being an excellent resource for finding out how much your car is worth, CarScout24 also provides information about the history of any particular vehicle.
For example, you’ll find details such as whether the car was previously stolen, registered abroad, or had an insurance claim. And if you’ve ever considered selling your car privately, make sure you use the actual website to post your vehicle, not a third-party site.
Watch For These Closely: Facebook Marketplace Scams Recap:
- Bank transfers can only be made via PayPal.
- Not being able to cancel a payment once it has been sent.
- When returning products, include the original packaging and accessories.
- Text that says they do not accept returns for items purchased from their website.
- Claims that the seller does not offer refunds for shipping costs.
Social media is one of the most popular ways to spend time online. But if you’re not careful, it could be a significant source of fraudulent activity.
Meta claims it works closely with law enforcement to assist in criminal investigation and keep scam artists off its platform. Stay safe from Facebook Marketplace scams by remembering what you read in this article.