Australians looking to make some extra cash selling unwanted or used items online are being urged to watch out for a new scam. 7NEWS
WATCH THE VIDEO ABOVE: Red flags to watch out for when avoiding phone and social media scams.After offering to pay using PayID, the scammers trick sellers into transferring cash to activate or upgrade their account.The scammer seemed like a genuine buyer, she said, and before she knew it she’d lost a chunk of her savings.Australians lost $260,000 to PayID impersonation scams last year, according to Scamwatch.
PayID deception is the latest impersonation scam and the true number of similar schemes impacting the community is expected to be higher given many aren’t reported, NAB Executive Group Executive and Fraud Chris Sheehan said. “Just as online marketplaces have replaced garage sales as the go-to option to sell second-hand items, the way we make and receive payments is also changing.”Scammers are using PayID as it is new technology many Australians may not yet be familiar with.“It is also free — and the biggest red flag of any PayID-related scam is often if someone asks you for money to upgrade an account or to access PayID. There are never any charges related to using PayID.
“Cyber criminals are sophisticated and we’re unfortunately now seeing them try to exploit PayID given, on the whole, it isn’t as familiar to the community as other ways to send and receive money.”
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