Whether you’re looking for a houseplant, a coffee table, or a new gaming console, online marketplaces can be great places to start. But be careful. Anonymous listings and virtual transactions are ripe for online marketplace scams, which can take a variety of forms.
While many people are aware of scams targeting buyers on marketplace sites, sellers can get scammed too. One tactic is for scammers to fake payment receipts or confirmations with an amount that’s higher than the asking price. The supposed buyer may claim to have purchased a product above your listed price and request a refund without actually having placed an order.
Another marketplace scam growing in popularity involves a fake email appearing to be from Zelle®, claiming that a transaction cannot be completed until your Zelle® account is upgraded. In reality, the scammer is tricking you into paying them for an upgrade that doesn't exist. Zelle® does not offer account upgrades.
- Sometimes an incredibly low price is literally too good to be true. In most instances, it’s best to pass on this type of offer unless you can inspect the product in person and ensure its authenticity.
- If the seller creates a sense of urgency by warning that the item won’t last long or many others are interested, take your time and think it through. Creating urgency is a technique to get you to act on impulse instead of logic, and it could lead you to overlook something suspicious.
- Keep an eye out for telltale signs of a false profile, like a generic profile picture, only one friend or connection, or a profile name that does not match the name or email address on the invoice.
*Please contact Logix at (800) 328-5328 or visit www.lfcu.com if you have any questions about this topic or would like to consider opening an account.
Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.