Let’s get straight to the point: PayPal identity theft is a very real crime. So if you’re using this online payment service, or considering it, here’s a couple of things you need to know.
1. We all have flaws, and PayPal is no exception. Their flaw is centered on a new service which allows you to open a new account and start shopping on it immediately. Sounds great, until PayPal fraudsters hear about it. They can hack into your account and create a new secondary one. The flaw here is that the fraudster doesn’t need to wait on the new card to be issued, they can start shopping right then and there, using their mobile number and PIN number that they assigned to the account.
Tip: Passwords are the best way to prevent this. Make sure you don’t have the same password for your bank, your email and your PayPal, and be sure to change your passwords periodically. Check out this blog on the importance of updating and varying your passwords.
2. Fake emails are a nuisance, but become much more serious when they involve accounts with your bank information. There have been reported fake PayPal emails requesting users to confirm or reject fake purchases; they urge users to click on a link to access a seemingly legit site, but which in fact takes them to a corrupt website, totally unrelated to PayPal. Here they are asked to enter their login credentials and other personal information. If you fall for such a scam, cybercriminals can get their hands on all the details they need to steal your identity!
Tip: It’s important to remember that reputable sites like PayPal will never ask you for personal information like that. Another golden rule – never trust a sign-in or payments webpage that doesn’t have a padlock symbol followed by https://.
It’s a bad, bad world out there, especially for online shopaholics! PayPal offers a great service, but as with doing anything online, it’s important to keep your wits about you (there are always clues that something’s not right) and stay educated.
You definitely need all of your web shields working for you when you make an online payment, so make sure you have BullGuard protecting you so you don’t fall victim to PayPal fraud!