Welcome once again to the world of Internet Patrol. Today, we’re drawing your attention to a sinister new scam flourishing on social marketplaces like Facebook’s Marketplace. This time, digital wallets are under threat, with the likes of Venmo, PayPal, and other cash transfer apps falling victim to these deceptive practices.
Imagine you’re selling an item on Facebook Marketplace. You’re contacted by an enthusiastic buyer who’s eager to make the transaction via Venmo. In a world increasingly reliant on digital payments, this is not an unusual request. Things begin to unravel, however, when you receive an email, seemingly from Venmo, stating that your payment is on hold.
Why? According to this official-looking email, it’s because you’re not a business. But here’s the kicker: they’re willing to “expand your account” in exchange for a payment. Sounds suspicious, right? Well, it is.
Here’s the play-by-play from a friend of The Internet Patrol, who recently became entangled in this elaborate scam. After receiving the ‘Venmo’ email, our friend decided to send the requested money. It was only after this, they reached out to Venmo’s customer service, who confirmed that authentic communications only come from ‘@venmo.com’ email addresses. Thankfully, our friend was able to stop the payment to ‘Venmo’ through their bank.
This is a typical example of a phishing scam, where fraudsters impersonate a reputable company to trick individuals into providing sensitive information or transferring money. In this case, the phony email was designed to look like it came from Venmo, adding an air of legitimacy that can be particularly convincing to those not on the lookout for such scams.
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So, what’s the moral of this cautionary tale? Always cross-verify. If you’re selling on a social marketplace and a buyer chooses to send you money through a digital wallet like Venmo, PayPal, or any other cash transfer app, make sure the transaction is successful and the funds reflect in your account before you proceed. If you receive an email stating otherwise, don’t follow the instructions blindly.
For instance, real Venmo notifications come from ‘venmo.com’. An email from ‘venmo.net’, ‘venmo.org’, or any other permutation is a scam. You can apply this rule to other platforms as well – if it’s not from ‘@paypal.com’, it’s not from PayPal.
Phishing scams like this can be quite sophisticated, often leveraging our trust in these popular payment platforms to fleece unsuspecting victims. It’s always prudent to approach such transactions with a healthy degree of skepticism.
Remember, cybercriminals thrive on exploiting human error and complacency. We cannot stress enough the importance of vigilance and common sense when navigating the digital marketplace. When it comes to your hard-earned money, don’t let convenience trump caution.
Stay safe, friends, and always be on the lookout for these increasingly complex and deceptive digital scams. Keep patrolling the internet with us, as we continue to bring you the latest updates, trends, and pitfalls in this ever-evolving cyber landscape.
The Internet Patrol is completely free, and reader-supported. Your tips via CashApp, Venmo, or Paypal are appreciated! Receipts will come from ISIPP.
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