PayPal fraud: How to protect yourself from creative fraudsters – financial expert gives important tips

PayPal fraud: How to protect yourself from creative fraudsters – financial expert gives important tips

According to a report by www.swr.de,

The latest PayPal scam involves scammers pretending there is a problem with the PayPal payment. They call the victims and ask them to press “one”. They are forwarded to a human employee who tries to access access data. This scam uses the criminals' current technology by first calling an automated voice and only calling a specific employee after active confirmation from the victim. This shows the shocking professionalism of the perpetrators.

This type of phishing scam is not an isolated incident and occurs regularly. The fraudulent methods are interchangeable, but the underlying technology is always similar.

In the event of fraud by revealing credentials, two-factor authentication can provide protection. This additional security measure prevents fraudulent transactions from being made. In addition to entering the password, two-factor authentication requires separate confirmation of each transaction, which can be done, for example, via a security app on the smartphone.

Consumers should therefore always rely on two-factor authentication to protect themselves from fraud with PayPal and other payment providers. Although this security measure is a little more complicated to use, it offers effective protection against fraudulent transactions.

It is important that consumers are aware of the risks and take appropriate security measures to prevent fraud with online payment providers.