Preventing PayPal Fraud and Identity Scams

July 12, 2006 by

Sabah Karimi

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Protect Yourself with These Smart and Practical Tips

With the growing rise of internet shopping, banking, and personal data transmittal, PayPal that offers convenience, efficiency, and a smooth transaction process to thousands of members worldwide. The ease of use and flexibility for accounts make PayPal a great choice for many auction sites, online t

ransactions, and banking processes. PayPal offers its services to over 20 million members, and both Merchants and Buyers can enjoy the benefits of its VeriSign protected software. Yet in spite of the heavy security and encryption measures offered by PayPal, there are numerous scams, alerts, and fraud-related incidents that are becoming increasingly common than other monetary transaction websites.

A personal experience with two recent fraudulent e-mails within the same month encouraged further research for better protection. It is becoming increasingly important to seek out a strategy for understanding PayPal Fraud, identity theft schemes, and other scams. PayPal’s website offers some great tip son preventing these occurrences as a Buyer, and offers Merchant tips for frequent sellers as well. Still, there are some additional practical tips to keep in mind:

• Sharing personal information, as always, is a definite ‘no.’ PayPal ensures that they will never ask you for your password or social security number directly via e-mail, and so you should never share this information with any request.

• Phishing occurs across a variety of websites, moreso related to those with banking information and social security numbers available. E-mails from ‘PayPal’ that are fraudulent often ask you to simply click on an embedded link to ‘update your information for verification.’ Other e-mails even look like they come from the ‘service@paypal.com’ sender, but a closer look reveals that the actual address is typed as ‘service@paypa1.com’granting it absolute fraudulent rights! Without a keen eye and smart attitude for reading e-mails, any consumer can easily get stuck in the web of PayPal abuse.

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Takeaways

PayPal's authentic URL always begins with 'https://'
Never click through in a PayPal e-mail to another site; verify it for accuracy
Do make sure to login to your PayPal account frequently to check for questionable activity