In the News
In Scammers Target PayPal Users With Bogus Emails; ‘It Just Blows My Mind That Everything Was Fake, Dorothy Tucker at CBS2 Chicago discusses a recurring email scam targeting PayPal users in the resale industry. Tucker states that the fraud informs users that money was transferred to their account and then prompts the user to send the purchased product they are selling to an address. However, this is all fake, and no money has been added to their account. Tucker explains that the only noticeable tell that the email was fake was the email ending which was @email.com instead of the correct @paypal.com. Tucker recommends that PayPal users check their accounts before sending any items to ensure that their transaction was legitimate.
Our Take
The increasing intricacy of email scams and their legitimate appearances are designed to trick customer’s into falling prey to malicious attacks. Although these scams may be challenging to decipher, being cautious and proactive about your email and account practices are essential to realizing a fraud before you are harmed. It is vital that customers proceed with caution anytime finances are in play, especially when dealing with transactions with other individuals. The resale industry is especially vulnerable to such scams because individual to individual transactions are often less formal. However, one must always verify that a transfer of money, whether to you or from you is complete and reputable before taking any additional steps in a transaction. Making the extra time and effort to verify transactions can save you money in the future and prevent the possibility of financial damages.
Recommendations
How can you protect your finances from email scams?
- Don’t reuse your account passwords, and take advantage of multi-factor authentication whenever possible
- Know the signs of an email scam and know how to act if you are affected
- Avoid clicking directly on links, whether in email or social media – always search through your search engine to verify legitimacy and find the appropriate site
- Refrain from opening suspicious attachments
- Track your finances closely to notice suspicious transactions before they become dangerous