A fake Payment scam is when scammers use proof of payment to deceive you into handing over items or providing services.
This is similar to the Fake Delivery and Fake Address scam. The difference is, scammers, don’t usually provide any addresses rather they contact you face-to-face or send a representative.
Why Scammers Fake Payment?
Money, Stealing Products.
Who are the targets?
Small, medium, and large enterprises
Scammers sometimes duplicate the exact MFS or bank transfer message and send a screenshot of the proof of payment. Business owners can be vulnerable to being scammed like this if they are not careful to check their account balance, or may miss the notifications in cases where they receive a large number of such texts.
They try to build trust and they are very good at it.
How to stay safe from Fake Payment scams?
There are some tips to follow in order to keep you safe from such scams
- Always check the balance to ensure a transaction
- Don’t deliver the product before 100% confirming the transaction
- Don’t accept only texts or screenshots as proof of payments
- Stay updated with recent changes to payment apps and their systems ( bkash, Nagad, etc).
- Stay up to date on the newest fraud trends via trusted news sources and you can also check our page and website
- Work with a trusted payment processor
How to recover from the Fake Payment Scam?
Like many other scams, after the damage done by attackers, it is difficult to recover your assets and money. Yet you can follow some steps which may help you to recover your losses fully or partially and also will help you to stay safe from upcoming attacks. Here are some steps to follow-
- Collect all documents connected to the scam:
- If the fraudster contacted you via email, print copies of the communications for future reference.
- If the fraudster contacted you by another means, such as by letter, text message, or social media, keep copies of those messages as well. Save the originals, just like you would emails.
- Compile a timeline of your encounters with the fraudsters, as well as the particular sums of money sent. For this, you can utilize receipts, bank records, or credit card statements. Include whatever information you know about the scammers’ location, even if you dispute its authenticity.
- If you used a credit card for a fraudulent transaction, call the customer support number for your bank or credit card provider right away. A specialized fraud line may be available through your bank or credit card provider. Examine the company’s website. If you prefer to interact with someone in person, you may be able to go into a branch during business hours for bank transactions.
- Provide your bank or credit card company with details about the fraud.
- File a complaint with a government agency such as Metropolitan Police, DB, or PBI
- Submit a report to local law enforcement i.e. file a GD
- Examine the safety of your personal and financial information.
- Change your passwords and engage in higher security features, especially if scammers have obtained access to your personal information.
- Log out of any devices you were using before the event occurred.
