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The Truth About the Latest PayPal Scam

PayPal, one of the world’s most popular platforms for sending and receiving money, is currently under attack.
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Since its founding in 1998, millions of PayPal users have had their personal information stolen by skilled cybercriminals. Hackers will pretend to be PayPal to steal user’s PII (Personally Identifiable Information). The latest scam goes so far that it requests users to upload a copy of their driver’s license and credit cards. So, if you have a PayPal account or know someone who does, keep reading.

Like most cybercrimes, this scam begins by targeting PayPal users with an email phishing tactic. Fraudsters will send PayPal users an email that appears to come from the company, alerting users that their PayPal account has been locked due to an alleged log in attempt from a new device. Once the user opens the link, a faux PayPal page pops open, asking for PII types, including a photo ID or credit card.

This scam is very serious. Your PayPal account, money, and identity are all at risk. Follow these anti-phishing tips to protect your sensitive information:

  • Beware of emails that ask you to act immediately. 
  • Never open spam emails and do not click on any links. 
  • Check URLs for spelling errors.
  • Look out for “bit.ly” addresses hidden within URLs. 
  • Visit the legit website by typing the address into your browser. 
  • Contact the company directly to determine if your account has been compromised.
  • Never share your PII with anyone, especially if they are asking for it.
  • Use multi-factor authentication (MFA) to protect your account from unwanted logins.
  • Keep close tabs on your PayPal account and report any suspicious transactions immediately.

Cybercriminals are getting more skilled at phishing for personal information. And, once they get ahold of your PII, there’s no stopping it. But with some extra attention, you can easily outsmart the cyber creeps. 
 

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