Police are warning sellers on Facebook Marketplace to be cautious when accepting bank transfers as a new scam is on the rise designed to part sellers from their goods for nothing.
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The new fraud involves using fake banking apps to fool unsuspecting victims into thinking they have received payment for an item.
Fake banking app
Whilst bank transfer scams have been going on for a while - where buyers can claim back money they have sent - this new ruse involves producing a fake app that purports to show the money has been sent.
When scammers meet the seller to collect the item, they ask them to put their bank details into the app and then will seemingly make the transfer in front of the seller’s eyes. However, despite the app showing the transfer as complete, the money never reaches them.
If the seller does question it, the criminal pretends to call their bank and simply claims it can take up to two hours for the funds to appear.
It is thought that more than a dozen people fell victim to this kind of scam in Leicestershire alone last year but there have also been reports of it happening in the West Midlands, Warwickshire, Nottinghamshire, Derbyshire, Buckinghamshire and South Wales, as per The Sun.
How to sell safely on Facebook Marketplace
Police have issued guidance to sellers on how to sell safely on Marketplace:
- Always check a buyer's review history and feedback to see if there is anything suspicious.
- Be aware of accounts that have been set up very recently with suddenly lots of very favourable feedback.
- Take the buyer's name, address and phone number when selling online.
- Use the site's recommended form of payment - Facebook urges users to stick to cash and avoid direct bank transfers.
- If payment is made via bank transfer, always check with your own bank if the payment has arrived and do not hand over any goods until then.
- Don't let them rush you into making a decision.
Paul Davis, director of fraud prevention at TSB, also warns users about the informal nature of Marketplace and said, as per The Mirror:
It's a bit of a lottery as to whether the person you are dealing with is trustworthy, or the item exists or is as described. You're on your own and are taking a gamble. It looks like eBay or Amazon but it hasn't got the same protections around it. It's no different from someone pinning up an advert on a noticeboard.
Sources used:
- The Sun 'Police issue warning for Facebook users that millions must abide by – or it could cost you'
- The Mirror 'Experts detail five scams to watch out for on Facebook Marketplace as fraud cases soar'
