Paypal job scam

February 18, 2010

Stocks, Mutual Funds, Forex, Finance Philippines

Make Money Online, Stocks, Mutual Funds, Philippines

Here’s another job scam you should know about. This time, it involves the online currency Paypal.

I almost got scammed! Someone posted a freelance job on a very legitimate freelancing site. The job was called Currency Exchanger. The job is for me to accept Paypal payments from their customers as they are in a country where Paypal doesn’t permit money withdrawals.

I went through a test transaction as they call it. Somebody sent $300 into my Paypal and I was asked to withdraw it to my bank account. Then I am to send this money through Western Union after taking my “commission” of $20.

After a few days (while waiting for the money to appear on my bank), that guy who sent $300+ to my Paypal complained to Paypal that that payment wasn’t legit. Paypal issued refund leaving my account on a NEGATIVE balance!

Thank God because that money is yet to come to my bank account! I could have been $300+ broke had I sent the money through Western Union before Paypal made the refund. Scammers can really appear legits. Beware!

This is an old scheme used by Paypal scammers. They exploit Paypal’s “reverse transaction” option where a legitimate owners can request Paypal to reverse a transaction and issue a refund, if that owner can prove that he did not authorize the transaction.

Another version of this scam is when a person would contact you requesting to exchange Paypal funds to cash. He’d reason out that he needs cash badly and that he cannot wait anymore to withdraw his funds to his bank account. He’d offer you to “sell” his Paypal funds at a very attractive exchange rate. If you agree to the transaction, he’ll send you the funds and you pay him cash.

Then a few days or weeks later, Paypal will contact you that the account of the person you supposedly transacted with has been hacked and Paypal is reversing the transaction and returning the funds to the original owner. You end up with a negative Paypal balance and loss due to the cash you paid to the scammer.

Make sure you deal only with legitimate Paypal owners before entering into any transaction. Paypal transactions can be reversed so protect yourself and make sure you won’t be scammed.

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Written by James | PinoyMoneyTalk.com · Filed Under PayPal Philippines

Join the discussion! Post a comment below

http://showbizrenegade.com showbiz renegade

Damn! These scammers are really not getting tired of fooling people. Does Paypal have the mechanism to prevent scammers from using their network and so save poor innocent Paypal users from falling prey to these criminals?
.-= showbiz renegade´s latest blog ..Roxanne Guinoo is Two Months Pregnant!? =-.
http://www.pinoybisnis.com Pinoy Bisnis

Thank you so much for sharing this post. This is an additional to the lists of scams that we have to watch out for. Scammers will always find a way to trick other people just to get money and we could not blame paypal because the person will always appear legit on the other end. This is a big disadvantage doing online transactions involving money.

Marami ngang naloloko offline, online pa kaya. The best way to fight paypal scam or any other scam is to learn how to avoid becoming a victim and avoid falling for this scam in the first place. As much as possible do not make any transactions to strangers in the web especially when you have not dealt any transactions before. Research first and be vigilant.
PMTfan

http://tipidpc.com/viewtopic.php?tid=198361&page=1

To the owner of this site…
Please feature the Bank Deposit Transactions Scam done by some people in Tipidpc. Information regarding the scam is found on the link I gave above. That is the Advisory given by tipidpc so that users could avoid these kind of Scams…
http://www.diabetis.biz Diabetis

Ibaiba ang gimik!
.-= Diabetis´s latest blog ..Vinegar to control diabetes =-.
http://online2cash.net Leo Wattit

this is very shock.first time i heard of these thing.I dont use paypal frequently
.-= Leo Wattit´s latest blog ..How To Make Money With A FREE Blogger Blog =-.
http://www.youwanttoberich.com Issa / You Want to Be Rich

I also wrote about almost being had by a Paypal scam on my site: http://www.youwanttoberich.com/2009/09/27/on-paypal-internet-scams-and-phishing/

Let’s be careful, everyone!
.-= Issa / You Want to Be Rich´s latest blog ..Investing in Another Person’s Business =-.
JAP

Thank you for publishing this Paypal job scam. Though my Paypal account is still not verified, many already offered me businesses like that. At least I have not made a transaction with them yet. Thank you again. God bless!
http://www.blsoftmarketing.com Blsoftmarketing

Thanks for the effort you took to expand upon this post so thoroughly.
Your post is nice, I learned a lot of information from this post. I think oDesk is the best place for freelance job. Because it is a payment guaranteed site and hourly jobs available. If you want to learn & discuss more about oDesk visit oDesk.com or http://blsoftmarketing.com/forum/viewforum.php?f=13
Thanks Guys.
http://rare-dna.com sam

LOL. As with all scams pay attention to the following:
1. Scammers rely on your greed and sense of entitlement.
2. If it seems to good to be true… it probibly is not true.
-wickedsam
sucktobescammed

this is an absolute scam.

Unionbank
109450649593

leonardo baylen