Fake Classified Ads & Their Repercussions Tips For Buyers & Sellers On The Internet
Introduction Classified scams have become increasingly common on the internet. This involve fraudsters looking to defraud buyers and sellers and duping them into thinking that they run legitimate businesses. As reviewed by experts, not only does this cause huge financial losses, but it also leaves their data at risk of being exposed to threat actors.
How Do Such Scammers Operate? FOR BUYERS
● Fraudsters upload fake ads on classifieds on the internet and also post about their fake offerings on social media. ● If you show interest in buying their goods, they will tell you that your order has been placed. After that, you will be requested to pay them for the order. Some scammers also go to the extent of providing fake invoices. ● However, your order never arrives. ● In some cases, scammers also send you payment links through spam, all of which are designed to copy your credit card information.
Their Modus Operandi FOR SELLERS
● Scammers may pretend to be genuinely interested in the products you are selling. ● They may contact you after seeing your ad on a classified website. ● They may send in a check to pay for the product. However, it may be more than the product’s actual price. ● After this, you will be requested to refund the remaining amount, citing the overpayment as a mistake. When you try to encash the check, it will bounce.
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Warning Signs Of Classified Scams Tips For Buyers
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Too low prices than the market norm? Chances are high that it’s a fake ad. Insists on payment first and has no online presence. Bad reviews on the net. Spammy language of ads. High pressure sales tactics employed once you contact them. The seller is unable to walk you through the features of the product clearly.
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Warning Signs Of Scams Tips For Sellers
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Overpayment. Sends checks for high-priced items without assessing their quality. May claim that they live abroad and are in contact with courier service providers who can ship your product to them. Such scams involve multiple people who would like to get their hands on your offerings for free.
How To Avoid Being Scammed?
● Make sure that you verify the authenticity of sellers on the web. ● Ask for pictures and videos of the items you are interested in. ● Do not send your personal details to strangers who reach out to you via spammy mails.
Presented & Reviewed By:
Thank You!
Sai Narula,
Manager, Marketing 2.0 Conference https://www.marketing2conf.com/