Mobile apps such as PayPal, Zelle, Venmo, etc. have become an easy way to make and receive payments. And scammers have found numerous ways to try to fool you into sending them money or giving them your account information.
A recent Reader’s Digest article has identified 10
mobile app scams that include order confirmation, fake fraud alerts, password
reset requests, promotional offers, refund requests, overpayment scams, and
more.
Many of these scams are simply phishing or smishing
scams that pretend to be from the payment app provider and ask you to click on
a link to “confirm” your information or fix an alleged problem. The problem is
that the link may take you to a website that looks like a legitimate website
but is run by the scammers to collect your account information so that they can
use your account for their own purposes.
Other scams, such as fake charity or overpayment
scams, try to get you to send the scammer money. With a fake charity scam, the
scammer will pretend to be an established charity, or a charity formed to help victims
of a disaster, such as the flooding in eastern Kentucky, to solicit “donations”
for the cause. The money does not go to help but goes into the scammer’s
pocket. With an overpayment scam, you might have sold something to someone who
turns out to be a scammer. They overpay with a fake or stolen credit card. Then
contact you and ask for the overpaid balance, usually to a different account. Then
they cancel the transaction with PayPal or Zelle leaving you out of your
product and your money.
Some things you can do to prevent getting caught up in
a payment scam include:
·
Protect your account with 2 factor
authentication, 2FA, (multifactor authentication, MFA). 2FA/MFA is being
recommended by more and more cyber security professionals because this
technique protects your accounts from being hijacked by someone who should not
have access to your accounts.
·
Use strong passwords of 12 characters or
more on your accounts.
·
Be leery of certain requests or demands
such as a “requirement” to make a payment to claim a prize or collect a
sweepstake winnings or a “financial institution” having you transfer your funds
from one account to another account to prevent fraud. Scammers sometimes demand
actions that normally are not needed to take, often requiring some sort of
payment. For example, if you have won a sweepstakes, your do not need to pay
anything to the people running the sweepstakes. And “transferring” money only allows
it to be deposited into the scammers bank account.
·
If you receive an email or a text message
requesting money, don’t click on any links. If you want to see a website of the
organization, or you want to call an individual who sent the email/text find
their contact information through a web search.
Payment apps provide a new level of convenience. With
some precautions, you can use them with confidence.
Reader’s Digest:
https://www.rd.com/article/paypal-scams/
Federal Trade Commission:
https://consumer.ftc.gov/consumer-alerts/2020/02/making-mobile-payments-protect-yourself-scams
Identity Theft Resource Center:
The following links to AARP tells the story of how a
scammer defrauded a individual out of her savings through a Zelle scam.
AARP:
https://www.aarp.org/podcasts/the-perfect-scam/info-2022/zelle-scam.html
https://www.aarp.org/podcasts/the-perfect-scam/info-2022/zelle-scam-part-2.html
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