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Scammers have found a way to manipulate PayPal’s features and are now using it to exploit victims.
They try to con people out of their hard-earned money for nothing. We must be vigilant and aware that these schemes exist – don’t let them get away with preying on your wallet.
It’s no surprise that scams have been on the rise lately. According to Scamwatch, an Australian government service by the Australian Competition and Consumer Commission, Australians have tragically lost over $520 million this year. This mind-boggling figure is only getting worse each time we look closely at it.
This week, a scam was uncovered that might shock experienced security experts. Fraudsters have been employing PayPal’s payment service to send fake invoices and solicit payments using the “request money” feature. If you receive an alert from PayPal claiming that you owe money, it could be part of this malicious campaign. Be sure to exercise caution when dealing with these types of inquiries.
Fraud Protect Officer Tammy Barnes warned, “If you check the details of who these emails have been sent from, it will appear as the official PayPal address as the system sends the emails. If you’re not expecting a payment request, we would advise ignoring these emails, and if you think the email may be genuine, you should always verify the request via a trusted contact method before making payment.“
“This is also a timely reminder to ensure your online accounts are secure by using unique, strong passwords and enabling two-factor authentication ahead of the busy online shopping season,” Barnes added.
Unfortunately, our email addresses and phone numbers can easily be obtained by scammers, allowing them to exploit PayPal’s request money feature with a seemingly legitimate text and reason.
While fraudulent websites and fake PayPal emails often get attention regarding phishing, we must also be aware of request money scams that appear authentic because they originate from the simple PayPal site. There are cases similar to this with the PayPal invoice trick ever since earlier in 2021 – don’t let yourself fall victim.
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