Identity theft is rampant in online marketplaces, and the Facebook Marketplace is no exception. Scammers are taking over legitimate user accounts to add authenticity to their scams.
Paying with instant transaction services is the easiest payment method. There are a lot of well-known peer-to-peer money transfer services like Venmo that are used on the Facebook Marketplace. But they bring some potential danger to their users.
In this article, we’ll talk about the most common Venmo scams and how to prevent them.
Is It Safe to Use Venmo on Facebook Marketplace?
The “buyer” on the Facebook Marketplace requests to pay using Venmo. If the seller agrees, payment comes in several installments costing less than $100. Naturally, the seller doesn’t suspect the buyer once the money starts coming in.
But as these transactions are irreversible, they’re ideal for a variety of scams. If you’re selling something on the Facebook Marketplace, beware of possible scammers posing as interested buyers. To avoid becoming a victim of the same malicious practices, you need to educate yourself about the tricks used on Venmo.
Selling Something to a Complete Stranger
Always double-check who you’re selling to on Venmo. Con artists might ask you to supply goods or services without making a legitimate payment. They may send you screenshots of faked emails or use stolen bank account or credit card information. They could also claim to have sent you a payment that won’t go through to your Venmo…
