One recent survey found that 1 in 6 respondents (17%) had experienced online fraud. Of course, a lot of the business on Facebook’s “classified ads section” is legal, but like any other online market, it also draws a lot of scammers.
Will you be surprised if we tell you that Andrew Weinreich created the first social networking platform, which debuted in 1997? He gave it the name Six Degrees.
Its goal was to bring people together, and this innovation paved the path for different social media networks, eventually leading to one of the most well-known platforms, Facebook. In fact, as of the second half of 2021, Facebook will have approximately 2.89 billion monthly active users. It is outstanding and has elevated Facebook to the most popular social networking site. Woah!
Yes, Facebook has, without a doubt, given us the capacity to get past the obstacle of separation from our family and friends. It permeates people’s lives; we use it to keep in touch with old friends, make new friends, shop, and have fun. But according to allegations submitted to the Federal Trade Commission, scammers are increasingly using Facebook to defraud us.
Now, you may be wondering how? Basically, the most common scams on Facebook today involve shady buyers on the ever-famous Facebook marketplace.
Each month, Facebook Marketplace handles more than a billion transactions. In fact, it reached one billion global users in the previous year. As a result, it has grown significantly in the consumer-to-consumer market, enabling straightforward trade between Facebook users.
For many reasons, it has eclipsed Craigslist in terms of popularity. Since most individuals already have a Facebook account, it is also free and easy to use. Users can look for postings in their neighborhood, which makes pick-up considerably simpler. Additionally, users are more confident in the site’s safety and security because they can examine the profiles of merchants. Unfortunately, this is often a false sense of security.
One recent survey found that 1 in 6 respondents (17%) had experienced online fraud. Of course, a lot of the business on Facebook’s “classified ads section” is legal, but like any other online market, it also draws a lot of scammers.
The question that arises is, how to avoid these shady buyers? Continue reading; this article is all about it!
How These Scams Work
On Facebook Marketplace, con artists will knowingly mislead you into purchasing something you didn’t want. Your order will either not arrive, have significant defects, or be a completely different (and typically much less expensive) product.
On the other hand, a Facebook scam may involve deceiving sellers into believing they have found a reliable bidder. These fictitious purchasers utilize cunning strategies to defraud the seller of their money rather than paying for a good.
If you’re a victim of a similar scam please get in touch with us to that we can help you get your money back!
Spot The Red Flags!
Advance Payment Yet No Delivery
The most common trick shady buyers apply on the Facebook marketplace is selling something, getting the money, and then never giving it to the customer. Obviously, only things supplied from beyond the buyer’s local area are covered by this.
Defective & Counterfeit Products
Sellers may advertise a product that appears fine from the image they posted. However, once it has been delivered, or you get it home, it turns out to be broken.
It’s particularly tricky when buying electronic items because you usually can’t check through every bit of functionality before handing over the money. This is likely due to a dishonest salesperson or a skilled con artist.
Secondly, it might be a fake product if it isn’t broken. Targets for counterfeiting are frequently designer clothing, perfume, jewelry, and cosmetics. It can be difficult to tell whether they are real or not from a little photo, much like frauds with damaged goods. Everyone is searching for a good deal. However, when offers seem too good to be true, it usually is.
Overpayment
On Facebook Marketplace, fraudsters may also scam sellers.
One typical instance is when they share a screenshot purportedly documenting the transaction and claim to have overpaid for anything you’re selling. They’ll request a return of the difference. However, as there was no initial payment, you now owe the refund sum. How devastating!
Google Voice Scams
Similarly, Facebook Marketplace is used to perpetrate fraud of other kinds, possibly on different platforms. In one instance, the con artist consents to make a purchase.
After moving the chat to an open channel, such as WhatsApp, they ask the seller to verify their identity with a code. The two-factor authentication code that was really delivered to the seller’s phone was started by the fraudster and sent by Google Voice. They can now set up an account using the seller’s phone number, which they can utilize for future fraud. They might try to access or register new accounts in your name with more information.
Fake Giveaways
Spamming Facebook Marketplace with giveaway offers is one of the approaches that scammers use to obtain that extra information.
The victim believes that by simply clicking on a link and entering some personal data, they will automatically be entered to win free luxury goods, cryptocurrency, or other exclusive offers. Of course, the con artists only need their data to commit subsequent identity fraud or theft.
Lost money to online fraud? We will recover your funds !
Tips & More!
Internet users must exercise caution and remain vigilant when dealing with online fraud of any form. The following tips will help you use Facebook Marketplace safely:
- Only purchase products from nearby vendors and inspect them before buying.
- Always meet in a public location rather than at your home, and ideally during the day in a well-lit area.
- Keep an eye out for recently created accounts and look at user reviews on buyer/seller profiles.
- Check the item’s original price, and if there is a big difference between it and the price it is being sold for, be aware that it might be fake, stolen, damaged, etc.
If the worst happens and you think someone is defrauding you, you should seek help from Global Payback.
Global Payback is a professionally run business with the immediate purpose of recovering whatever money you have lost due to fraud. They have an extensive network of key players, including legal experts, data miners, previous workers for companies in this industry, and our knowledgeable staff of experts.
Hence, if you ever become a victim of one of these shady sellers and buyers on Facebook Marketplace, you know who to contact!
Sources
- Author: Alina Bradfor – https://www.cnet.com/tech/mobile/how-to-protect-yourself-when-using-facebook-marketplace/
- https://www.redpoints.com/blog/facebook-marketplace-scams-an-overview/
- Author: Nathan Daniels – https://vpnoverview.com/privacy/social-media/facebook-marketplace-scams/
- Author: J. Wrobel – http://chicagobankruptcy.com/beware-of-scams-on-facebook-marketplace-tips-to-protect-yourself-and-others/
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