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  • Geebo 8:00 am on March 28, 2024 Permalink | Reply
    Tags: , , , paypal scam,   

    News channel helps victim recover $100K from scam 

    News channel helps victim recover $100K from scam

    By Greg Collier

    A resident of Woodridge, Illinois, found herself ensnared in a digital trap, losing nearly $100,000 to a cunning PayPal scam. However, amidst the despair, emerged a beacon of hope, her local NBC affiliate and their news department.

    The victim’s ordeal began innocuously with an unexpected email purportedly from PayPal, alleging outstanding bills totaling $650. Bewildered, she contacted the provided number for resolution, only to fall prey to a sophisticated ruse. The scammer, masquerading as PayPal support, manipulated the victim into granting remote access to her computer and divulging sensitive banking information.

    Under the guise of rectifying an error, the fraudster orchestrated a virtual sleight of hand, fabricating a $100,000 deposit into the victim’s account. Urged to return the purported excess, she unwittingly wired the entire sum to the perpetrator. The realization of her plight hit hard when her savings evaporated, leaving her emotionally and financially devastated.

    Predictably, Chase Bank was the entity to rebuff her plea for reimbursement, citing the lack of cooperation from the receiving bank. Notably, Chase Bank has a history of rejecting analogous appeals and purportedly levying accusations against victims, insinuating their complicity in the scam.

    Faced with rejections from financial institutions and the haunting specter of irreversible loss, she turned to her local NBC News channel. Less than two weeks after their intervention, this victim received the news she yearned for, that of restitution.

    Unfortunately, Chase Bank isn’t the sole institution to which victims resort to local consumer reporters for redress. Repeatedly, we’ve witnessed major national banks dismiss claims from scam victims until local news stations intervene. It’s imperative for these banks to improve their support for scam victims rather than relying on media intervention.

    If someone falls victim to this scam, prompt action is crucial to mitigate further damage. Immediately notify your bank and PayPal, informing them of the fraudulent activity. Freeze or close affected accounts to prevent additional unauthorized transactions.

    File a report with your local law enforcement agency and report the scam to the Federal Trade Commission (FTC) at FTC.gov/complaint. Include as much detail as possible about the incident.

    Change passwords for all online accounts, especially those linked to financial services. Enable two-factor authentication where available to enhance security.

    Even after taking these measures, there’s no guarantee that your bank will provide a refund. If you find yourself in this situation, you might consider reaching out to local consumer protection agencies or media consumer advocacy programs, like your local news station, for further assistance.

     
  • Geebo 9:00 am on December 5, 2023 Permalink | Reply
    Tags: , , paypal scam,   

    Elderly victim loses $100K in PayPal scam 

    By Greg Collier

    An elderly man, from the Boston area, recently lost close to $100,000 to scammers who were posing as PayPal. PayPal is the oldest and possibly the most reliable online payment service. However, that doesn’t mean it’s not without its scammers.

    The scammers called the man and told him that $100 had accidentally been deposited into his bank account. The man was walked through directions on his computer by the scammers, which granted them remote access.

    Then, the man was shown what appeared to be a $100,000 deposit into this bank account. The scammers claimed that it was actually $100K accidentally deposited into his account and not just $100. Typically, at this point in the scam, the scammer will claim that they’ll lose their job if the victim doesn’t help them out by sending the accidental payment back.

    It’s unknown if that’s what happened in this instance, but the scammers convinced the man to send two cashier’s checks for $49,800 each. They even ordered the man to tell the bank the money was for a new car if they asked. Unfortunately, the bank did not question the large amount being withdrawn by an elderly customer.

    Even if a PayPal employee, or any similar company’s worker, were to make a mistake this large, it is never the customer’s responsibility to pay that money back themselves. If an error was made on PayPal’s part, it would be their responsibility to fix it. If the employee claims they’ll lose their job over the error, that’s not your problem. Also, please keep in mind, if the payment was made electronically, it can be reversed electronically by the company itself. If you’re ever instructed to ‘move’ your money for any reason by someone you don’t know, it’s more than likely a scam.

     
  • Geebo 8:00 am on July 31, 2023 Permalink | Reply
    Tags: , , , , paypal scam,   

    Do banks only help scam victims when the news gets involved? 

    Do banks only help scam victims when the news gets involved?

    By Greg Collier

    When we started posting about Zelle scams is when we first discovered how unhelpful banks can be when it comes to those who fell victim to these scams. Scammers will walk the victim through the Zelle app to have them transfer money to the scammers under false pretenses. Since the victim made the actual transaction, many banks will tell the victim they can’t get their money back. To the bank, or so they claim, the transaction looks authentic to them, so they can’t issue a refund to the victim.

    However, occasionally, victims will have their money returned to them after they tell their story to their local media. This typically involves the victim going to their local TV news consumer reporter. In turn, the reporter asks the bank for comment, which more often than not results in the bank issuing a refund.

    For example, a Massachusetts woman recently fell for a scam which resulted in her bank account being emptied by scammers. She received a call from scammers who were posing as PayPal to tell her there was in issue with her account. The scammers sent her a link to click on, and when she did, scammers took control of her phone. Before she knew it, $3500 was gone from her bank account.

    Her bank allegedly denied her claim until her local news station got involved. The bank reportedly claimed they reversed their decision after their decision after the victim provided additional information.

    But are these bank refunds a result of the plane crash principle? The principle says that we only hear about the planes that crash, but we don’t hear about the vast majority of planes that continually land safely.

    Are banks issuing refunds to scam victims without the media getting involved? We’d like to think they are, but somehow, we doubt it. As someone once told us, banks are in the business of making money, not issuing refunds. Not to mention, if banks started issuing refunds on demand to scam victims, it won’t be long before scammers start claiming they’ve been the victims of scams.

    The banks need to implement better initiatives to protect their customers from scammers. Education has not been enough, as scammers often intimidate their victims into ignoring the education. If just one major bank came forward with a new program to protect their customers from scammers, we’re sure it would not only be great PR for them, but they would probably attract many new customers.

    However, it will most likely be a long time before that happens. In the meantime, we need to look out for ourselves. If you receive a phone call from any company related to money, like PayPal, Zelle, Venmo, or even your own bank, hang up, and call them back at the company’s official customer service number. You can find these numbers, if the company has one, on their website under the contact section.

     
  • Geebo 8:00 am on May 17, 2023 Permalink | Reply
    Tags: , , , paypal scam, , ,   

    Victim sues banks for failing to prevent $500K loss 

    Victim sues banks for failing to prevent $500K loss

    By Greg Collier

    A 74-year-old woman from Hilton Head, South Carolina, is suing three major financial institutions for allegedly failing to prevent large transactions of hers being used in a months long scam. But before we get to that, please read how scammers tormented this poor woman.

    It started out when she received an email that appeared to come from PayPal. In actuality, it was a phishing email which said her account had been hacked. The email also offered customer service software that could prevent her account from being hacked. The software was actually malware that allowed scammers to take control of her computer.

    This allowed the scammers to access her bank accounts and take thousands of dollars from her. They also convinced her to withdrawal large sums of money and convert it to cryptocurrency to send them. This occurred through most of 2022.

    The victim’s son received a surprise anonymous text where he was warned by scammers that the last of his mother’s money was about to be stolen. It seems even scammers can have a change of heart. The son even received texts about how much information they had on his mother, including logins for close to a dozen of the woman’s online accounts.

    Her son then went out and bought her a new phone with a new number, and it wasn’t long before the scammers started contacting her through the new phone.

    The woman is now suing PayPal, Bank of America, and Wells Fargo for not better protecting consumers. The suit alleges all three corporations “failed to take corrective actions” while the fraud took place, which included large in-person transactions. According to the suit, the large transactions were never questioned.

    What do you think? Are the banks partially responsible for not putting a stop to these transactions? Or is the elderly woman just an unfortunate victim?

    Since this all started with the victim downloading malware from an email, it’s a good time to remind our readers not to click on any suspicious links from emails, even if they’re from a company you do business with regularly. That email may not actually be from that business. Instead, login directly into your account and address any issues from there.

     
  • Geebo 8:00 am on September 29, 2021 Permalink | Reply
    Tags: , paypal scam, , , twitter bots, ,   

    Twitter bots are scamming PayPal and Venmo users 

    Twitter bots are scamming PayPal and Venmo users

    By Greg Collier

    We didn’t intend to write three stories in a row about payment app scams, yet here we are. Apps like PayPal and Venmo have become so common, it’s almost expected for scammers to try and weasel their way into our electronic wallets. We have documented quite a number of scams that involve not only PayPal and Venmo, but Cash App, Zelle, and other platforms as well. Those scams usually involve some kind of fraudulent transaction, but it seems at least one group of scammers have stepped up their game when it comes to finding new targets.

    Scammers have recently set up bots to look for any mention of the names PayPal or Venmo. For example, if someone were to ask another person on Twitter if they had a PayPal, so they could pay them for an item or support a content creator for example, the bot picks up on that mention. What happens next borders on evil genius territory.

    The bot will then make an almost duplicate Twitter account of the person being asked if they have PayPal. They’ll block the account they’ve cloned, then respond to the person who asked about their PayPal account with a link that goes to the scammers account. So the person who is supposed to be receiving the money doesn’t even see the fake account responding to the person who asked them about their PayPal account. In a normal Twitter conversation, it would go something like this.

    Person 1: Hey, I like your content. Do you have a PayPal?

    Impersonated Account: I sure do. (With attached link to scammer’s PayPal)

    Meanwhile, Person 2 never sees the impersonated account respond, and loses out on a sale or support.

    If you feel the need to discuss someone’s PayPal or Venmo account with them on social media, make sure to do it through private messages and not in a way where everyone can see it. Also, if you’re someone who solicits donations for their work through PayPal, it’s best not to list your PayPal details in your public profile as bots could be targeting you.

     
  • Geebo 8:00 am on September 28, 2021 Permalink | Reply
    Tags: , , paypal scam,   

    PayPal scam targets the elderly 

    PayPal scam targets the elderly

    By Greg Collier

    Yesterday, we talked about Venmo has been used in various scams, but today is all about Venmo’s big brother, PayPal. For those who may not know, Venmo is owned by PayPal. Anyway, PayPal is also no stranger to scams. Scammers have been fleecing PayPal users before Venmo was even a thing. Historically, PayPal was used as a scamming tool by shady eBay sellers. This was around the time when eBay owned PayPal, but has since spun off the payment app. We’re not saying that PayPal is responsible for the scams, but since PayPal has become so common in internet commerce, it has become a major avenue of scammers.

    A report out of Southern California says that there is a PayPal scam going around targeting elderly users of the platform. Most PayPal users get an email every time they make a purchase using PayPal. PayPal users will be most familiar with the email that comes with the PayPal logo that tells you where you made the purchase and how much the purchase was. A 67-year-old woman from San Diego received one of these emails, but it was for a purchase she didn’t make that was for an exorbitant amount. Legitimate PayPal emails also contain PayPal’s customer service number. This scam email also contained a phone number, but it went to a scam call center instead of PayPal.

    The phony customer service representative asked to log into the woman’s account in order to reverse the charge. The woman was also asked for banking information, since PayPal accounts are required to be linked to a bank account. Thankfully, the woman caught on that this was a scam and did not give up any of her information.

    If you are a PayPal user, and you receive an email that claims you were billed for a purchase you didn’t make, the first thing you should do is log into your account. Then check the transactions to see if the fraudulent purchase is there or not. If it’s not there, you can delete the email and forget about it. If a fraudulent transaction is there, call the customer service number listed on PayPal’s website or the back of your PayPal debit card. Whatever you do, don’t Google for the phone number, as that could lead you to a fraudulent call center. Also, avoid using any phone numbers contained in emails, as they could also direct you to a group of scammers as well.

     
  • Geebo 9:00 am on March 4, 2021 Permalink | Reply
    Tags: alaska, , , paypal scam, ,   

    Scammers use missing persons to commit fraud 

    Scammers use missing persons to commit fraud

    By Greg Collier

    We’ve often said that scammers will stoop to any lengths to try to get one over on their victims. We also say that scammers will try to take advantage of any kind of tragedy to make a quick buck. Now, think of one of the worst tragedies that can befall a family. Then imagine that family having to deal with a scammer that’s trying to take advantage of that tragedy. That’s what’s been happening to many families in Alaska.

    Due to the sheer amount of untamed wilderness that Alaska has, the state has an inordinate amount of missing persons cases per capita. This has led to scammers trying to extort money out of the families involved in these cases. Even we were taken aback when we read about this scam as it’s beyond cruel.

    The scammers take to social media looking for posts that deal with a missing person. They’ll then use that information to contact the missing person’s family. The scammers will say that they are holding the missing person hostage and that the missing person is now ill. The family will be instructed not to contact police and that their loved one will be released if they make a ransom payment. The ransom payment is then demanded to be paid through a payment app like PayPal or Cash App.

    This is a variation of the virtual kidnapping scam with the only difference being is that the person being used in the scam is actually missing. The reason this particular scam is doubly cruel is that not only are the scammers harassing an already distraught family but in some cases, it’s giving them a false sense of hope that they may be getting their family member back.

    Whenever one of these scams come up, we like to remind our readers that kidnapping for ransom is actually very rare in the US.

    We hope that anyone reading this never has to deal with a missing person in their family. However, if the unthinkable happens, and then you receive a scam call like this, you should contact your local police immediately.

     
  • Geebo 9:00 am on February 5, 2021 Permalink | Reply
    Tags: , , paypal scam, ,   

    Police impersonation scams using payment apps 

    Police impersonation scams are one of the more stressful scams you can find yourself in. Scammers will spoof the number of your local police department and try to convince you that there is a warrant out for your arrest. For most people, this will catch them off guard and probably instill more than a little fear into them. The scammers like using high-pressure tactics like this to get their victims to send them a phony payment. Often, the scammers will ask for the payments in untraceable ways like gift cards and wire services. Now, some of these impersonators have switched to a new way of taking money from their victims.

    In the San Antonio area of Texas, police there are reporting that police impersonation scammers are now asking for payment through PayPal. Meanwhile, in South Florida, police there are reporting something similar except the scammers are using Cash App. Just like in most police impersonation scams, the scammers are saying the victims have a warrant out for their arrest, but it can be resolved if the victim makes a payment to the person on the phone. We can guess that some scammers are moving to these payment apps because not only do they get their payment instantly, but it’s also easy to block the victims from trying to get their payments back.

    As with most scams, the scammers are trying to get you flustered emotionally, so they can pressure you into making a payment. If you get one of these calls, take a moment to think about the situation. We know this is easier said than done sometimes, but it is imperative to avoid being taken in a scam like this. If there was a warrant out for your arrest, even an erroneous one, police are not going to call you. They will send officers to your house. If there is a warrant out for somebody’s arrest, you can’t just resolve the warrant by making a payment over the phone. Any payments that need to be made in regard to the process almost always need to be made in person.

     
  • Geebo 9:00 am on January 5, 2021 Permalink | Reply
    Tags: , , paypal scam, , ,   

    Two PayPal scams you should be aware of 

    Two PayPal scams you should be aware of

    PayPal is probably one of the most trusted online payment systems today. There aren’t many online retailers that don’t accept PayPal as a payment option. PayPal also allows those who are underrepresented by banks to not only shop online but to also have a debit card that the consumer can use like any bank debit card. However, this post isn’t meant to be free publicity for PayPal. While PayPal does offer many protections to their users, it can still be used in various scams as we’re about to take a look at now.

    Security experts are warning about a new series of text messages going around that are designed to steal your PayPal login information. The text messages claim that there has been fraudulent activity on your PayPal account and that your account is now limited. That would mean that you would be restricted in the use of your own PayPal account. The text then directs you to click on a link to verify your account. If you click on the link, you’ll be taken to a phony PayPal page that resembles the genuine article. If you enter your login information on this phony page, your information has just been stolen. Since many PayPal accounts are linked to bank accounts, your bank account could be in jeopardy as well. If you feel like you’ve clicked on one of these links and given them your information you should immediately change your PayPal password.

    The other scam is more hands on so to speak. A woman in Georgia was selling a cell phone on Facebook Marketplace. She met a buyer at a local restaurant. The man agreed to buy the phone using PayPal. The buyer showed the woman a fake email that looked like he had just paid her through PayPal. However, the woman wasn’t seeing the payment in her account. The man then made it appear as if he was calling PayPal himself and told the woman that the payment would be in her account in a couple of hours. As you can expect, the payment never showed up. PayPal doesn’t work like this as payments are almost instantaneous. Once you make or receive a payment you should be notified by PayPal right away. If you’re not notified you shouldn’t take a stranger’s word for it that you’ve been paid.

     
  • Geebo 8:00 am on October 21, 2020 Permalink | Reply
    Tags: , , , paypal scam, , ,   

    A Cash App scam that could happen on the street 

    A Cash App scam that could happen on the street

    Most scams that happen on payment apps like Cash App happen online. However, we just came across one that happens on the street.

    The report we found about this scam comes out of Nashville, Tennessee but could happen in any city. In Nashville, the city is known for its music scene so there are a number of street musicians looking to get their name out there. There are also a number of scammers looking to take advantage of those interested in the music scene.

    The scammers will pose as a street musician and will approach a victim. The scammer will ask for the victim’s phone so they can pull up their music video on YouTube. Instead, the scammer accesses one of the victim’s payment apps like Cash App, Venmo, or PayPal and sends the victim’s money to themselves before fleeing the scene.

    While this particular approach may be exclusive to Nashville or any other city with a vibrant music scene, this scam could happen anywhere. You could be approached by someone asking to use your phone for an emergency where instead of calling someone they could be draining one of your payment app accounts.

    There are several ways to protect yourself against a scam like this. First off, it’s generally a good idea to never hand your phone over to someone you don’t know. Secondly, most of the leading payment apps have security features that prevent other people from accessing your account on your phone. Known as two-factor authentication, you can have a PIN set up to open the payment app or you could use your phone’s fingerprint reader to access your account. When these features are enabled, it goes a long way in preventing others from accessing your accounts on your phone.

     
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