Facebook Marketplace offers an abundance of options; however, it also presents an inflow of scams, ranging from fraudulent deals to identity theft. Here are all the main types of scams you should be aware of, and how to avoid them.
Payment scamsGift Card Fraud:
Scammers demand the use of prepaid gift cards and then disappear.
Venmo, Cash App, Zelle Schemes:
Although it may have a good intention, a rental scam is commonly executed by sending a fake surplus of money or just disappearing after they collect a rental deposit. If someone won’t accept other methods of payment, such as a cheque, or cash, they are likely a scam and you should go away and find a safer buyer or seller instead of losing your money.
Wire Transfer Scams:
Scammers selling items will tell you to wire them the money. Once you’ve wired them the money, they disappear. Even worse, some scammers provide fake wire confirmations to convince you to wire the money.
Overpayment Scams:
Scammers often send more money than required and then ask the victim to refund the extra amount. Once the refund is sent, they reverse the original payment, making it seem like the victim stole their money. This trick leaves the victim at a loss and struggling to recover their funds.
Product & Inventory scams
- Bait and Switch: The item shipped to the buyer is not what they ordered/advertised
- Shipping Scams: Sellers require shipping before payment clears and buyers ship items before payment clearsCar Scams: Fake VIN reports, escrow scams, linking to bad websites – inspect and or test-drive vehicles for purchase.
- Fake/Stolen Products: If pricing is dirt cheap, there is a sense of urgency, or the product description is vague, you should be aware that the seller may be selling stolen goods.
- Rental Scams: Listing requires a deposit before viewing, is a hijacked real listing, or lease-free listings that require wire payment before viewing.
Social engineering Scams
- Phishing Links: Phishing surveys or phishing login requests sent to you through messenger
- Fake Giveaways: “Prize” promotions that gather your personal information
- Verification code request: Scammers will ask for your code to take over your Facebook profile
- QR Codes attack: A QR code may install malware or steal information
- Immediate Interest Tactics: Bots inundate your listing, be cautious about buyers you do not know.
Security Fundamentals
- We recommend using Facebook Messenger for all communication is a safer and more traceable form of communication.
- If something sounds too good to be true – it probably is
- Always independently verify payment receipts through your bank, or app.
- If you can arrange it, also meet in person and exchange in a public place (ex: a police station, shopping mall).
Conclusion:
Facebook Marketplace can provide lots of great deals-but it does come with some risk. If you take the steps to minimize your risk-options are still available to trade with confidence using Messenger as the only communication, independently verifying payments, and avoiding remote transactions.
Take Action Today
Do not hesitate to act if you are a victim of a Facebook scam. Contact us for a free consultation to find out more about your options and start the recovery process. Protecting your financial interests starts with being proactive and knowledgeable.
Remember, at Lycan Retrieve, we build trust, recover losses, and deliver results. Allow us to assist you in receiving your money back.
Contact us right now to safeguard your future and take back financial control.
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