In the last few months, an exploit in PayPal’s invoice system has been targeted by scammers to create convincing phishing emails that are being used to steal your personal information and money. This is not new, as scammers always look for new methods to steal your personal information and money.
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With PayPal, sellers can create invoices for their products or services and then send them to their customers’ PayPal accounts so they can make payments. It appears that PayPal does not do a great job of securing the legitimacy of an invoice when it comes to finding out if it is legitimate or not. It has become increasingly common for scammers to use invoices to trick people into sending money to other accounts of their choice. Recently, this method seems to have gained popularity, but some reports indicate it began as early as 2020.
The scam involves sending an email to a PayPal user informing them that they need to pay for something by PayPal. There could be a notification in the form of an email addressed to you by the PayPal billing department. This email will inform you that your account has been debited $1,000 for the Walmart eGift Card purchase, and it will also give you a phone number to contact customer service. In another version, $450 was requested for crypto, and the scammer provided a new telephone number.
As soon as you contact them, whoever answers the phone will ask you to download some software to your cellphone that allows them to control your device remotely. Make sure you do not call these numbers! Scammers can access your device and steal your PayPal log-in information, as well as other credentials that are stored on it. Scammers can use them to carry out further acts, such as stealing identities.
There is one similarity between all the messages; namely, they have the same message at the top that says:
- “Here’s your invoice.”
- “Invoice Updated”
As well as the same button that says:
- “View and Pay Invoice”
Unfortunately, these buttons also appear on legitimate invoices from legitimate businesses. A similar email address, “[email protected],” is used to send these notifications, adding credibility to the fact that the email has been dispatched from a PayPal account’s email address.
Here Are Some Tips To Help You Avoid the Scam
To avoid this attack, one of the easiest things you can do is refuse to pay any invoices for products or services you did not purchase. Invoices, on the other hand, are different from purchase notifications.
Thus, if PayPal sends you an email confirmation for the purchase of an item, then someone may have attempted to steal your PayPal account, and you should contact PayPal customer support as soon as possible.
If there is any suspicious email or message about PayPal payments, you should go to PayPal.com (or the apps for iPhone and Android) to find out more instead of clicking any links in the email.
It is possible to check whether you owe any invoices by clicking on the Status > Invoices to Pay link on the Activity page of your PayPal profile, which will show you any recent payments or requests.
Tips on How You Can Keep Your PayPal Account Safe
- Invoices may seem legitimate, but their source can be questionable. For help, contact PayPal Support.
- DO NOT call any numbers provided in suspicious PayPal emails.
- DO NOT respond to money requests or invoices you don’t recognize.
- Rather than clicking on links from unknown sources, log into PayPal directly from its official website or app.
Hopefully, PayPal cracks down on invoice abuse to avoid frequent occurrences in the future. Scammers don’t just target PayPal; money transfer services are also a frequent target of scammers if they want to steal your money.
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