Your cart is empty
by J. Scott Drake
In the digital age, online marketplaces have become a ubiquitous part of our lives. We use them to buy everything from groceries to furniture and yes, firearms, and the ease with which we can send and receive payments has only made these platforms more appealing. However, with the rise of online transactions comes an unfortunate increase in scams involving payment methods like Zelle, Venmo, and Cash App to name a few. Typically, the fine print with these payment methods says something along the lines of, and I'm very loosely paraphrasing here (always read the privacy and usage information from the app), that if you send money to someone, it's on you and there is nothing they can do to help you if something goes sideways. These scams can be sophisticated and difficult to spot, but by being aware of the common types and knowing how to protect yourself, you can avoid becoming a victim.
The first and perhaps most common scam is the "too good to be true" deal. You come across an item on an online marketplace that is being sold at a significantly lower price than its retail value. The seller is eager to make a quick sale and offers you an irresistible deal. Sounds too good to be true? That's because it probably is. In most cases, these items are either counterfeit or stolen, and the seller is using the platform to launder money or simply steal your personal information. Always exercise caution when encountering such deals and do your research before making any purchases.
Another common scam is the "phantom item" scam. You find an item you want on an online marketplace, make the payment, and wait eagerly for the item to be delivered. However, weeks go by and the item never arrives. You try contacting the seller, but their profile or account has disappeared without a trace. In this scenario, the seller has taken your money and vanished into thin air. To avoid falling victim to this scam, only purchase from reputable sellers on sites that verify identity and who have a good reputation and track record on the platform. Also, be cautious of sellers who don't accept popular payment methods or have limited contact information.
The "shipping and handling scam" is another scam that targets online buyers. You place an order for an item, only to find that additional shipping and handling fees are added to your total at the last minute. These fees can sometimes be exorbitant, leaving you feeling cheated and frustrated. To avoid this scam, always check the seller's shipping and handling policies before making a purchase. Look for sellers who have transparent policies regarding these fees.
Then there's the "bait and switch" scam, where a seller advertises an item at a certain price, only to tell you later that the item is out of stock or no longer available at that price. They then offer you a similar item at a higher price as a replacement. This scam is often used to trick buyers into paying more than they originally intended. To protect yourself from this scam, always confirm the availability of the item before making a purchase and only buy from sellers with a solid return policy.
Finally, the "identity theft" scam should not be overlooked. When you provide your personal information, such as your name, address, email address, and credit card number, to a seller, you are putting yourself at risk of identity theft. Fraudulent sellers on unverified sites may use this information to steal your identity or commit other crimes. To minimize this risk, only provide necessary personal information when making a purchase and only to reputable sellers. Also, be cautious of sellers who ask for sensitive information such as your social security number or bank account details.
How to Protect Yourself:
In my own opinion, the best way to protect yourself using a payment app that doesn't offer consumer protection is to never send money to anyone unless you have met in person to exchange. But if you choose to purchase goods in online marketplaces:
Verify Identity: Always confirm the identity of anyone asking you to send money through Zelle, Venmo, or Cash App. If it's a friend or family member, call them directly to discuss the transaction. If it's a stranger, meet them in person before proceeding with any financial transactions. Do not trust pictures of identification such as a driver's license or other issued ID, these are super easy to fake with photo editing.
Check the Recipient's Information: Make sure you're sending money to the correct recipient by double-checking their name and contact information. If the recipient's information appears to be off, it could be a sign of fraud.
Be Skeptical of Unusual Requests: Be wary of requests for large sums of money, unusual urgency, threatening and demanding tones, or requests that seem out of character. Trust your instincts and don't be afraid to ask questions, or to just walk away from the purchase altogether. You are never obligated to continue dealing with anyone who makes you uncomfortable!
Use Secure Connections: Always make sure you're using a secure connection when logging into your payment service account or sending money through these platforms.
Monitor Your Accounts: Keep a close eye on your account activity and transactions, especially after sending money through Zelle, Venmo, or Cash App. If you notice anything suspicious, contact your bank or the payment service immediately.
In conclusion, while online marketplaces can be convenient and safe, it's important to remain vigilant when it comes to protecting your personal information and financial assets.