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For those trying to make a little extra money, selling stuff that we no longer need or want has become the norm and online marketplaces have come and gone.
Facebook Marketplace is still a popular marketplace for buying and selling goods. It offers a convenient way to declutter your home or make some extra cash, the rise in its usage has unfortunately attracted the attention of scammers looking to exploit unsuspecting users.
In a survey conducted by the Royal Bank of Scotland, between 1 September 2021 – 22 November 2021 was the most reported site being used by scammers.
With two young children as a household, we accumulate a lot of stuff that is no longer used, so my wife often gets snap happy, posting those items on Facebook marketplace, as well as the timewasters I’ve noticed that there has been an increase in the number of scammers trying to get one over on us whether that’s through courier or payment scams.
Why have Facebook marketplace scams increased?
Several factors have contributed to the increase in scammers using the Facebook Marketplace, and as more and more of us are looking for ways to top up our income this will no doubt only increase with the scammers looking for different ways to part us with our cash as their scams are found out.
The popularity of the marketplace
With so many using the platform, the vast number of people using it is an attractive target for those wanting to find their next victim.
It’s easy to use
Is there anything easier than taking photos of the items you want to sell and then writing a short description?
The marketplace was designed to be user-friendly, making it accessible to the tech-savvy and novice user, this of course means that it is also easier for scammers to use the platform too.
Diverse scam tactics
As more of us are using the internet in our daily lives, scammers are adapting and developing new tactics to exploit vulnerabilities in the system.
This includes fake payments and overpayment scams, phishing techniques.
Economic factors
When times are hard for many and we face economic challenges or uncertainties we will often seek opportunities to make quick cash and scammers know this to capitalise on this by presenting us with fraudulent schemes that we know in our heart of heart are too good to be true but the promise of quick money is often just too powerful.
What are the Facebook Marketplace scams you need to look out for?
No matter whether you’re a seasoned marketplace seller or new to selling your unwanted items, there are a few scams that you should be looking out for.
1. The Courier scam
This seems to be very popular with the items that my wife posts at the moment and it involves, the scammer informing you that they are unable to collect the item in person so will send a courier to collect the item, though they will ask you to pay the insurance.
Scam prevention: request cash as the only acceptable transaction only insist on pickup in person without getting a 3rd party involved.
2. Personal information scams
Scammers may request personal information under the guise of verifying identity. If you’re someone who posts everything about your life on Facebook and has a public profile providing personal information will enable the scammer to piece this information together and steal your identity, potentially harming your credit score.
Scam prevention: Never share sensitive information outside of secure platforms. Be cautious about requests for unnecessary personal details.
3. Fake payment confirmation
The scammer will send a fake confirmation that they have made payment to you for the item that you are selling. These fake confirmations will look as though they are genuine and can be difficult to tell apart from genuine confirmations.
Scam prevention: If using PayPal to accept payment, ensure that you check the payment has cleared on the platform before handing over the items.
4. Local pickup scam
A buyer claims they never received the item after a local pickup
Scam prevention: Document the exchange with photos, and if possible, have a witness when making the exchange, failing that, meet in a public, well-lit location.
How to report a potential Facebook Marketplace scam
If you are looking for a way of reporting a Facebook marketplace scam, Facebook has a useful page that shows you how to do this depending on the device that you are using.
Conclusion
Safeguarding yourself from potential Facebook Marketplace scams is not just a precaution but a necessity and the importance of vigilance, thorough research, and patience cannot be overstated.
As you continue your online selling journey, be vigilant, do your research, and exercise patience.
Take your time to scrutinise potential buyers, examine their profiles, and insist on clear and straightforward transactions.
By staying informed and adopting a cautious approach, you not only protect yourself but contribute to making Facebook Marketplace a secure and reliable platform for everyone to buy and sell unwanted items
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