A few years ago, buying products overseas used to be a hectic and an unpleasant hassle. However, with the introduction of electronic money, everything became easier and convenient. PayPal is used all over the world to make and receive payments. Despite its sophisticated security systems, there are gluttons who manage to find their way around oblivious sellers. Below are 5 of the most common scams that you should be conscious about as a seller.
The inexistent shipping address scam
To execute this scam, the scammer pretends to be an authentic buyer and actually pays the agreed amount In full. As per routine, you embark on shipping and making sure that they receive the item. You will then try to find the address in vain. As per protocol, you thereby describe the item as вЂnot-deliverable.’ The scammer then will call in and provide an alternative address which you will deliver to without realizing that you are falling into their trap. Once they are in receipt, they contact PayPal claiming a failure of delivery. As per PayPal’s records, you have not delivered to the original address. Therefore, they refund the money to the scammer, and you end up losing your item.
The overpayment scam
For this one, they make use of both PayPal and their bank account. They call in as a buyer and make the payment, only this time, higher than agreed. They will then proceed to apologize for the deed describing it as a basic typo. They go ahead and ask you to reimburse the surplus through their bank account. Afterwards, they file a complaint with PayPal saying that they did not intend to make the payment and since you have no evidence of any shipment, PayPal channels back the money. The scammers elope with the cash you sent to their bank account.
Fake email scam
The malicious practitioners disguise as PayPal customer support with a fake email account. Normally, they claim that PayPal is withholding the money until they receive a shipment tracking number from you. With your quest to make a sale, you release the item and provide them with the number as requested. From that point, they will buy time by delaying replies and providing lame excuses as to why the payment has not matured. By the time you realize what is going on, they already have the item and probably blocked you.
The email- phishing scam
This is probably one of the most dangerous scams; they use hacking techniques to acquire your login details. You then receive a seemingly genuine email from PayPal indicating that payment has already been made and will reflect in your account once you confirm. The confirmation button provided redirects you to a cloned PayPal website where you are required to key in your login details. As you do so, they get the details on their end and log in. You might end up losing quite a huge amount.
Hacked PayPal Scam
Using the hacked PayPal accounts, they rip others off their money. They will pay you for an item as agreed and you go ahead to ship. Assuming that the original account owners reported their case, PayPal will sooner than later catch up and reverse the transaction as per policy and circumstances. Sadly, you lose your already shipped item.
There are many scams that revolve around PayPal. You should acquaint yourself with their seller protection programs to lessen your chances of falling victim. Despite them providing fraud control systems, it is imperative to do your research and protect yourself as well. Learn all common scams and how to avoid them. You may also hire a team that is able to detect and dodge such bullets.