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Everything You Should Know About Paypal Scam – Facts!

Everything You Should Know About Paypal Scam –  Facts! >> The guide below helps you to save from online phishers that have become common nowadays. Please look at it.

Where there is money, there are scammers. The digital world is rewarding, making our life so easy; however, it has few drawbacks also, and the scam is one of the major issues.

PayPal is the popular way of transferring and requesting money easily yet quickly Worldwide. As a result, it is one of the top service providers among its competitors.

Today, we will discuss Everything You Should Know About Paypal Scam. So please stay tuned with us until the end and make sure you don’t miss any crucial data.

About PayPal

PayPal is the United States-based company that runs an online payments system in most of the countries. It supports digital money transfers and retail as a replacement to a traditional paper transaction. In 2015, PayPal became an independent company and ranked 204th on the 2019 Fortune 500.

Some More Details

  • Type: Financial Services.
  • Founded By: Elon Musk, Ken Howery, Yu Pan, Luke Nosek, Peter Thiel, and Max Levchin.
  • Founded Year: December 1988, 22 years ago.
  • Headquarters: The United States.
  • Area Served: Worldwide.
  • Products: Payment system and Credit cards.
  • No. of Employees: 21,800.

No doubt it is a safe and secure method to transfer your money, but within limits following are the things you need to know everything about the PayPal scam.

Everything You Should Know About Paypal Scam

  • Too Good to be True: If the offer in any way looks too good, stop right there. It may be a trap. Scammer tries to attract you, saying you have won the huge prize for paying some small fee. Isn’t it strange? No reputed firm offers you such mishaps.
  • Hoax Charity: During any crisis like natural disaster or terror attack, frauds try to strike kind people. Saying donate some money to help the needy and create a fake link. Please don’t use the link, instead please try to research about the charity.
  • Spoofed Emails: Scammers send an email saying that your account will be suspended if you don’t take action now. Normally, people rush to open the link and enter the original PayPal password. Like this, you easily get into the trap.
  • Overpayment Scam: Frauds send you a catchy message or an email saying that you paid extra for goods or services than needed, so let’s settle and get back your extra paid money. Please don’t go for it, and don’t use the link; instead, check on the official PayPal app.

How to Protect yourself from PayPal Scam? : Some Tips

Following are the range of measures one can take to save themselves from a scam:

  • Use Secure Network: First simple step anyone can take is not to conduct any activity on the PayPal app when your device is connected to a public network or unknown device. Because scammers hack your account in no time, and the chances of losing money is high.
  • Verify: Suppose you receive any message or email that says you have received some amount. Hold on, don’t open that link. Instead, you can go to your PayPal account and check your transaction history. Doesn’t the idea is smart and simple? Apply it.
  • Take a Note: PayPal will never ask you password unless you are on the login page.
  • Create a Strong Password: Whenever you create a password for any personal app, make sure you create a strong password. Avoid rearranging passwords and noting them in unsafe text.
  • Smartphone: Suppose you are using the PayPal app on your android device; make sure you set a few-digit pin to open the app or fingerprint lock.
  • Security Product: To add an extra layer of security to finance operation, you can install a full-featured security application into your system. That makes your transaction safe and secure.
  • Enable Two-Factor Authentication: One best way to keep your account safe is to enable two-factor authentication. PayPal’s system is compatible with many 2FA apps, including Google Authenticator and others.
  • Keep Updated: Whether it is the PayPal app, mobile, or a system, keep updating it to the latest version.
  • Last but not least: Never wire money to an unknown source or a person. And deal with only verified buyers.

How To Get a Refund if you Scammed on PayPal?

PayPal has designed excellent refund policies for customer use. But we are going to explain three versatile policies here; please have a look at them:

180-day Refund Policy

Below are some of the points Everything You Should Know About Paypal Scam and how to get the refund under this section:

  • Suppose you have ordered something online and you have not received the item or received the wrong or damaged item.
  • Then you can cancel the order from your end only by visiting the activity page.
  • This policy works only if the transaction is pending.
  • PayPal allows user to charge disputes against the scam within 180 days of shopping.

Purchase Protection

This policy holds good if you have been scammed. Purchase protection policy is applicable only if the following conditions are satisfied:

  • If you have charged extra, or for no reason.
  • Received the wrong or damaged product.
  • Make sure you take action within 60 to 180 days of purchase. 

Chargebacks

  • Chargebacks are helpful if you have been scammed.
  • Simply chargeback and relax, PayPal will enter into the matter.
  • PayPal understands that something mischief is happening; they immediately freeze the amount you filed for until the issue is solved.
  • Moreover, this is the quickest and safest way to get your refund back.

The Final Verdict

PayPal is one of the safest methods to send or receive money. For more details, you may click here.

However, being so popular, few scams have been reported on the name of it. So, we suggest you please stay alert and use maximum cybersecurity to save you hard-earned money. This is Everything You Should Know About Paypal Scam. We hope it is helpful to you.

Have you experienced any online scams? Then, please do share your perspective in the comments section below. We are here to assist you. Moreover, if you want to know everything about the refund policy of PayPal, then please hit the link here.