Over one billion people purchase and sell items via Facebook Marketplace each month–but they aren’t the only ones who cash in. Scammers are using Facebook Marketplace to steal people’s money, which makes it a hotbed of fraud. “Unlike eBay or Amazon, Facebook Marketplace shoppers have a lot more direct interaction and conversation with sellers.
That creates opportunities for scammers to trick victims into a number of scams with less oversight. They may appear appealing, but they have certain warning signs that make them easy to recognize.
Here, experts will discuss the most popular Facebook Marketplace scams and how to stay clear of them so that you can safeguard your funds from scammers while shopping. You can also learn Learn Facebook Marketplace Dropshipping in 2022 using legit ways. Other great articles about eBay Scams and Amazon Scams are worth reading to protect yourself in this online business era
Red Flag: A New Account
Check out the account of anyone you communicate with on the marketplace who you think might be a buyer or seller. Facebook accounts typically have a long history because it is a legacy social media platform. Usually new accounts are created to make facebook marketplace scams.
It may be a fraud account if you’re chatting with someone who has a new account. Before engaging in business, be extremely cautious and ask the appropriate questions.
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List of The Most Common Facebook Marketplace Scams
- Communicating or Making Payments Outside of Facebook
Beware of sellers and buyers who insist on receiving or communicating with payments outside of the official Facebook channels. “Scammers often want to get your money in a way that is irretrievable,” such as wire transfer, or Venmo transaction.
“In addition to outside payment methods, they might also convince victims to call or chat outside of Facebook, where their correspondence can’t be monitored.” Facebook’s Purchase Protection policies are only applicable to transactions made via PayPal and Facebook Checkout and there is no guarantee that you’ll receive your money back when you make a payment using a different method.
Following official procedures can protect you in the event that anything goes wrong. Using the official system will safeguard your account in the event that something goes wrong as per experts. By making the payment outside of the facebook, you may not able to provide proof against these facebook marketplace scams.
- Requesting Payments in Advance
Never agree to make a “reservation” or “pay-in-advance” payment for an item before receiving it, as this is one of the simplest ways to be deceived. A scammer can claim that the item is popular and ask that you pay a deposit or advance payment to reserve your spot. It’s likely that you won’t ever get the item, and the scammer will go off with your money. Exchange both the money and the item simultaneously, ideally in a well-lit, public area.
Facebook advises bringing a partner or sharing your meeting schedule with a friend or relative when seeing a seller in person as an extra measure.
- Overpayment To Seller
Believe it or not, fraudsters can also scam sellers. One of the typical facebook marketplace scams involves the customer paying the seller more than what was requested for the item using fake money, then claiming an error and asking for a partial refund.
The victim will pay the bill in full and refund the overage, but the original payment never makes it to the seller’s account. As a result, the victim is stuck paying the cost while the criminal keeps the cash. By rejecting overpayments and demanding that all payments be made through Facebook-approved methods, you may safeguard yourself against these Facebook Marketplace scams.
- Fake Giveaways
It’s one of the common facebook marketplace scams. Just Ignore any offers for free stuff or contests for free stuff if you see one. It’s probably a phishing scam. When you click a link to enter the competition, malware or a virus could be downloaded and get access to your personal data.
- Bait and Switch
Advertising one item, then seeking to substitute it is the classic bait and switch. When you finally find the item you’ve been looking for, the seller informs you that it isn’t available and substitutes another, more expensive one.
If a bargain is not what you had in mind, don’t be scared to back out.
- Fake Account Creation
Examine the seller’s profile carefully before making a purchase on Facebook Marketplace. Some scammers create fake Facebook accounts to deceive others into purchasing bogus or nonexistent goods, then they escape with the money.
The date the Facebook account is one of the most important things to check. New accounts should look suspicious. Nowadays, the majority of people will have a Facebook account that was set up at least five years ago. “Be careful if you see a Facebook account that was set up within the last few months.
- Selling Substandard Products
Selling a defective item on Facebook Marketplace is one of the most common frauds. “This may occur, particularly when buying computers or other technology items,” Although the item is broken, the seller is hoping you won’t inspect it before paying for it. Before you pay for products like electronics, we advise turning them on and testing them to make sure they function properly.
Additionally, “don’t let yourself be forced into making a deal,” “Walk away from the deal if the seller—or the buyer, for that matter—presses you to make a quick decision. It’s undoubtedly fishy if it smells fishy.
- Lost Package
Facebook claims that a marketplace user can claim that an item was shipped to you and that it was never received. In either scenario, the user will be asking you, the trusted party in the deal, for a refund.
To help you avoid falling victim to this scam, make sure you have tracking information for any shipments involved.
How To Report a Facebook Marketplace Scams?
Can you trust Facebook’s Marketplace? The site makes it simple to report a potential scam.
“If you are scammed, report it to Facebook Marketplace right away,”. “Report it if you see a seller or buyer attempting a scam to safeguard other unsuspecting sellers and purchasers.”
How To Report a Listing Facebook Marketplace Scams?
If you see a listing for sale that you think is fraudulent:
- Click the three dots in the upper right-hand corner of the item listing that is open on your device’s screen.
- To report a listing, click. Action items will appear in a menu.
- Choose “scam,” “appears to be counterfeit,” or another appropriate action.
- Additionally, you have the choice to block the seller.
How To Report a Seller Facebook Marketplace Scams
To report a Marketplace seller you believe is engaging in fraud:
- Tap the seller’s name while the item listing is open on your device.
- Under the seller’s name, tap the three dots.
- Click “report seller.”
- Follow instructions
How To Report a Buyer Facebook Marketplace Scams
To report a buyer scam:
- Click the “more options” box when the item listing is open on your device’s screen.
- Click “report buyer” after that. You’ll have the option to block the buyer. You also have the option to look at the person’s Facebook profile, which should enable you to tell whether the buyer has a recent or old account.