Beware of This New PayPal Scam Targeting Your Bank Account

PayPal is undoubtedly one of the most popular online payment platform used by millions of merchants all over the world. Because of security reasons such as scams, PayPal was restricted in some countries in a bid to make the system safer and trusted for users and that has yielded so many positive results. However, currently there is a security issue in as some scammers are sending a phishing scam targeting your PayPal account to get access to your bank information.

According to the report, the Better Business Bureau is now warning PayPal users to be on alert for the scam.

THIS IS HOW IT WORKS

The Scammers sends a purchase confirmation email that is similar to the official one sent by PayPal. The message will tell you that you recently had a purchase on your PayPal account.

Then they will add a link in the email to cancel the transaction but the link is disguised and will instead download malicious malware to your computer. Once this is done, it will start collecting your bank information on the computer. Here is an example of the scam mail below

PayPal Scam Mail
Photo Credit: mytwintiers

HOW TO STAY SAFE

For now, if you are not sure of the message on your PayPal account, don't try clicking the links attached to the email sent to you. The best thing to start doing now is to contact PayPal directly if you have doubts.

CHECKOUT SOME TIPS FROM THE BBB FOR IDENTIFYING PHISHING SCAMS:

✔️ Protect Yourself from Phishing Emails:

✔️ Call before you click: If something sounds suspicious, confirm it by calling the company or checking the company website. Type the URL directly into your browser or do a web search. DON'T click on any links in unexpected messages.

✔️ Look for misspellings: Look out for spelling and grammar mistakes when dealing with a suspicious-looking email claiming to come from well known companies. Additionally, check the copyright at the bottom of the email - if it looks even slightly different, then it is most likely a fake.

✔️ Be cautious of generic emails: Scammers try to cast a wide net by including little or no specific information in their fake emails. Always be wary of messages that don't contain your name, last digits of your account number or other personalized information.

✔️ Check out more BBB Tips: Many phishing scams use similar techniques; click here for more advice on how to avoid these scams.

SEE ALSO: How To Open PayPal Account

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