Our phones have made us extremely connected. You can use them to check your email, answer phone calls, respond to text messages, communicate on various platforms, etc.
Online scams are increasingly taking over all of these modes of communication.
According to a long-time cybersecurity specialist and independent journalist, Graham Cluley, "The internet is a wonderful thing and also home to criminals and fraudsters."
With that in mind, we will walk you through some of the most prevalent online scams, how to spot them online, and how to beat them, especially the classified ads scam, so you don't become a victim.
Firstly, classified ads can be an excellent way to buy and sell used products and find your next apartment or vacation rental.
However, internet marketplaces are a perfect hunting field for scammers, who have devised numerous methods to defraud customers seeking a good deal.
Above all, the Internet has become a place to find things, whether that's information, jobs, friends, love, stuff, or anything in between.
As a result, online yard sale websites such as eBay and Facebook Marketplace, as well as the general classifieds site Craigslist, are among the most heavily accessed sites today.
Craigslist receives over 50 billion views per month; eBay has over 187 million registered users as of 2021; and Facebook Marketplace is a feasible choice for most e-commerce websites with over 1 billion users.
With so many eyes and wallets at stake, it's no wonder these sites are also popular with scammers.
- Non-delivery scams where Sellers receive payment but never deliver the purchased item. They might create fake tracking numbers or disappear after receiving payment.
- Overpayment Scams where A scammer expresses interest in buying an item, sends a check or money order for more than the agreed amount and then requests a refund of the excess. The original payment is later found to be fraudulent.
- Fake Escrow Services where Scammers pose as legitimate escrow services, tricking buyers and sellers into using their fraudulent service. They disappear with the funds once the transaction is initiated.
- Fake Support Services where Scammers impersonate customer support representatives, tricking users into providing sensitive information or paying for non-existent services.
- Rental Scams where Scammers advertise rental properties, receive deposits or upfront payments and disappear. The listed property may not exist or belong to someone else.
- Job Scams where Scammers pose as employers offering remote jobs, asking for personal information or an upfront payment for training materials.
- Counterfeit Goods where Sellers advertise products at a significantly lower price, but the goods received are counterfeit or significantly different from what was promised.
- Bait-and-Switch, where Sellers attract buyers with an appealing offer but provide a different, lower-quality product or service.
- Fake Listings, where Scammers create enticing listings for products or services that don't exist. After receiving payment, they disappear without delivering anything.
There were over 6,200 reports of classified scams in 2021 alone, accounting for more than $4.5 million in losses.
● Buyer
● Seller
● Real estate agent
● A company offering a job
Unfortunately, none of these fantastic products, homes, or opportunities exist, and you won't know until it's too late.
Scammers are frequently after your money, but their schemes can sometimes be more sinister, with scammers mining for personal information that they can use to steal your identity.
So, whether it's a job posting or a hot online deal, the old saying applies more than ever: Buyer beware.
The ads have long been a catch-all area, and the frauds that use these websites are similarly diverse. Nonetheless, some forms of classified scams are more common than others.
What makes classified ad frauds so effective is the combination of the Internet's anonymity, the built-in interest of anyone browsing through one of these sites, and the somewhat unregulated environment in which these firms operate.
However, if you know what to look for, you can keep an eye out for these frauds. Here are a few generic warning signs:
● Poor or unusual grammar
● a lack of photographs or solely professional photographs
● The same job is listed in multiple cities.
● Details that are hazy or missing
● Someone who is fo impatient or employs pressure tactics to close a transaction
● Someone who is a bad or untrustworthy communicator
● Someone who refuses to use a traceable or protected payment method you choose.
Before completing a transaction, always look for red flags of scams, as listed in this article.
Scams on both the seller and the buyer. Unfortunately, as a buyer or vendor, you can be duped on most classified websites.
This type of classified scam involves forged postings on yard sale websites or other online retailers.
You'll come across something that appears too good to be true: This is a perfect example of what you're looking for at a price you never thought feasible. That's because it's not possible.
Scammers may sell false or defective products or nothing at all, preferring to take your money and run.
More expensive products, such as vehicles, phones, or furniture, may be sold online before they are completely paid off, leaving you with the remaining debt.
More sophisticated deceptions may lead to bogus escrow accounts, where scammers take your money and personal information.
Scams involving a counterfeit designer handbag can also be found on Facebook Marketplace.
These classified ad scams may be more difficult to detect since people do not usually expect a "paying customer" to trick them off.
A seemingly honest buyer can be duped frequently through forged invoices or dubious payment methods. These scammers' preferred devices include:
● Money transfer services
● Cashier's checks (which will bounce once the item is shipped)
● Incorrect addresses allow them to be repaid via the website.
● Fraudulent credit card statements "proving" they paid for something
● On classified websites, overpayment scams are fairly popular.
● Prices or offers that are too good to be genuine
● Any mention of a "guarantee," whether supplied by the website or the seller, should be avoided.
● Using or requesting unusual payment methods, such as money wires, Western Union, gift cards, cashier's checks, or escrow accounts
● Offers to buy something for more than you're asking for. Suggestions for unconventional methods of transporting or picking up an item
● Accept unusual kinds of payments.
● If feasible, make all payments through the website or app. Additional security provided by the website usually accompanies this.
● Only do business with locals. Meet/examine an object in person before purchasing it. Make certain that you do this safely by:
● If possible, bring someone else with you.
● Informing a close buddy of your location and activities
● Choosing a well-lit, heavily frequented activity parking lot in an open grocery store
● Look into any sellers to discover if there have been any past complaints filed against them.
Aside from classified ads scams, here are other online scams, how to spot them, and how to beat them.
Job Offer Scams
Classified websites can be a terrific location to locate odd jobs, but many postings may need more accuracy.
Scam job offers might result in a fraudster taking your money and personal information via a phoney application process.
They could, however, involve scammers luring you into their deceptions, such as pyramid scams.
Other popular job frauds that are marketed include:
● Scams involve reshipping jobs, in which you are requested to accept shipments at your home, replace the box, and then send it off somewhere else.
● Job placement service scams, in which you are requested to pay a fee for a phoney company to locate your work.
● Any form of online work in which you may be dumped when it comes to payment
● Any form of online work in which you may be dumped regarding payment. A job provider who will not meet with you in person or via video chat
● Unverifiable business information
● A job offer was made right away.
● An urgent request for confidential personal information.
● Get-rich-quick schemes or promises of little or no work
● Any method of upfront payment is acceptable.
● Never hand out sensitive information such as your Bank verification number, bank account or financial information, passwords, or PIN codes to anyone.
● Before proceeding, thoroughly research any firm or individual.
Real Estate Scams
The real estate scam is one of the most common classified scams.
These are advertisements for rooms, flats, and houses for sale or rent. The houses are usually inexpensive and beautiful—but not for sale.
Scammers generally act as landlords or friends of the homeowner, claiming to be out of town or telling dramatic sob tales to "justify" their too-good-to-be-true posting.
They may take any information you provide on a housing application and charge you for everything from that application to months of upfront rent without ever meeting you in person or allowing you to tour the place.
● A salesperson or landlord who is out of town or will not meet with you in person
● Over-the-top social stories/dramatic explanations for the fantastic offer
● Requesting payment before viewing the property.
● Requesting advance rent payments.
● Telling you that you must act quickly or utilise various pressure forms.
● Before signing anything, insist on visiting the property with the landlord.
● Never give away personal information such as your Bank verification number, bank account, or financial information.
● Confirm with a third party that the property is for rent/sale.
You can still take steps if you believe you have been duped. Here are a few steps:
● Report the scam to the website or app where the fraud occurred.
● Through the website or app, you can block or flag the scammer.
● Determine how to get your money back.
● If you handed away anything other than money, especially personal or financial information, you should immediately Freeze any accounts linked to the incriminating website.
● Inquire about the occurrence with your bank and credit card firms.
● Cancel your existing credit and debit cards and apply for new ones.
● Change your PINs and passwords.
Please report the incident to:
● NIGERIA POLICE FORCE CYBERCRIME OFFICE
● Economic and Financial Crimes Commission (EFCC)
Follow the procedures below to recover from identity theft.
Depending on the nature and severity of the scam, you may want to inform local authorities.
If something or someone appears to be "too good to be true," it is likely that they are attempting to defraud you. Try to be personable, but something is odd: online scammers often pose as a friend or family member to acquire your trust rapidly.
● They want you to pay in a specific way.
● They claim to be from a government agency or a firm.
● Phishing scams.
● Travel insurance scams
● Grandparent scams.
● Tech support scams
● Formjacking and retail scams
● Scareware (fake antivirus) scams
Whether you feel you're dealing with a catfish, use a reverse image search to see whether the person's images appear on any other internet profiles.
You may also look up their messages on the Internet. Take any particularly distinctive or romantic lines they've written to you and see if they appear elsewhere.
Don't blame yourself if you feel you've been a scam victim. Scammers' methods are continually refined and can be very convincing.
It is critical to respond swiftly and notify the site administrators.
While the Internet provides tremendous opportunities, it also presents obstacles in the form of scams. Keeping yourself safe in online classifieds necessitates awareness, prudence, and sound procedures.
This article detailed information on how to spot online scams and deal with any form of fraud in classified ads. You may reduce your risks and enjoy the benefits of online classifieds with confidence if you follow the suggestions mentioned in this article.
Remember that staying secure online requires ongoing work and that remaining aware is your best defence against scammers.
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