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PayPal fraud scam cost UK users £1 million in last quarter

PayPal fraud scam cost UK users £1 million in last quarter

PayPal users in the UK lost over £1 million to fraudsters in the last quarter of 2019 after being tricked into sending goods by fake e-mails.

Crime fighting site ActionFraud says that between October 2019 and December 2019, 3,059 crime reports were made bout fake PayPal emails. Victims reported losing a total of £1,121,446 during this time.

Those targeted, which include people selling electronics, vehicles, phones and household furniture via online marketplaces, received an email purporting to be from PayPal verifying payment for an item.

The fraudsters typically send a follow-up email requesting a tracking number in the hope that the victim will be rushed into shipping the item before they have had a chance to check the payment.

A spokesperson for eBay, says: “Fraudsters use very sophisticated methods to try and circumvent trusted website security and we continuously enhance and update our security infrastructure to tackle new fraud trends.We encourage all members to take precautions that will improve the level of security protection on their accounts.

“Don’t get caught by fake payment emails and always confirm you’ve received a PayPal payment before sending an item - check your PayPal account and ensure the payment icon in your My eBay is highlighted."

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