The most Dangerous PayPal Scam you Shouldn’t Fall For!!
We all know that PayPal is legitimate and one of the Fastest means of Paying and Receiving Payments online, But at the same time we may not think that Scammers and fraudsters may Utilize this medium to Scam peoples Hard earned money.
PayPal Uses about 6 six Security technologies to Encrypt and Secures each profile information on Their platform so that it'll not get Stolen, allow access from Suspicious identities, or any kind of money laundering.
1, PayPal Security Key; This is a Method in which PayPal Automatically adds Another Extra Layer of Security to your account in addition to your password, and A One time code.
2, Fraud Detection technology; PayPal Utilizes this technology to prevent Fraud monitoring and Fraudulent Charges on your PayPal account.
3, A Transfer Layer Security Connection; which helps prevent imposters from intercepting Into your PayPal account.
4, Data Encryptions; which Secures your digital Data on Paypal.
5, Authentic and Authorized Email anytime you make a Transaction on your PayPal account.
And Other Security methods they Automatically impose on your account to ensure a Good and tight security on each account Profile.
Well I even thought about this myself until I Experienced it personally myself,
How?
I was trying to Exchange my PayPal funds into my local currency, due to the Unnecessary Restriction imposed by Paypal
Well I feel like not to blame PayPal anyway!!
I came across a business identity that seem to be Legit on Instagram, which says they're Changing PayPal Funds which is USD to my local Currency, I was excited because I needed to change it, I Clicked on Their profile I massage them and they responded Normal to me, we had a Good Conversation like a normal business minded people.
We chatted on the Rate they're going to Change the USD for me, we Concluded.
It was time for payments, of course I was the one to make payments hence it's Exchanging of money, I was double minded and I felt the fear of losing my money, I told them that I would send the money but I I'll split it Into three 3, that if I transfer the first and I Receive the money, then I'll transfer the Rest with the agreed exchange rate.
They were kind of persuading me to do the whole money which I wanted to change on my Paypal Account. I couldn’t because I already felt the fear of losing my money. They insisted, but I Also insisted on doing the transaction as I wanted, but they later agreed and replied that there’s No problem.
They now raised Their Scam System that I should do my transfer with PayPal family and friends Only.
I already know that if I do the transaction with PayPal family and Friends, PayPal isn't Gonna do anything When they find out that it's a scam, Rather they'll say that it's my family Members, My Friend or who I Know, so I should go sort it out personally, it's a family and friends issues.
Also I'm not being Covered with PayPal's Buyers protection which is Disconnected on Family and friends transactions.
Before then I’ve gotten an this two massages from my relatives about how they’ve been Scammed through PayPal family and Friends.
well I said to myself to That that’s for them, as for me I’ll Never fall for them.
I did a little amount of transfer to them which I'm Comfortable losing, although no money is worth losing, I did it like I was paying for Goods and services and not with friends and family, which I know I can get it back if disputed, but they Said they'll not accept if not PayPal family and friends, I said ok I'll transfer to you the charge on which PayPal is going to take from you, because I Know so that PayPal may charge him Hence I purchasing from Him.
Thank God I later got the little one I sent them back after almost 19 Hours of Dialogue with the Help of PayPals Buyers protection.
As for that I learnt my lesson!!!
You too reading this Should basically Learn from this;
1 If anyone or anybody you're doing business with whom you Haven't seen before or know insist that you should first pay him or her with PayPal friends and Family, It's a Red flag Don't!!!
If you want to try you can do a little with the amount you're Comfortably losing, Except that don't do the transaction.
2, if anyone asks you to pay with a special link or Contact him or her before paying, Don't, because once you click on any Link or phone number he provides for you, You've Automatically Grant him access to remotely regulate your Mobile device, if you must Confirm anything on your PayPal account, Log In with the official address through Chrome, or Is other Trusted and Secured Browser.
3, if he asks you to install anything, For secure and faster payments, that may be another way of Submitting your Valuable informations to the Scammer, because once you Install anything or app on your Phone, it'll Automatically have all the access he or she may need to move your funds, without you granting these Access yourself on your Device.
If he disturbs or calls you tell Him or her that you're no longer interested in the business and that he or she should forget About that, OR that you insists in Paying with the Goods and Services Option, If the Scammer insists on his Choice Blacklist him and don't take any call from Suspicious Calls or phone numbers.
No call No SMS No interaction and No Loss.
Remember, " PREVENTION IS BETTER THAN CURE"
Stay safe, stay good!!!
Peace!!!
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