Facebook Messenger PayPal scam

Scammers have been posing as friends and family in order to get access to PayPal accounts

There has been a surge of reports where the recipient has received messages through Facebook Messenger from friends/family requesting to use their Pay Pal account to receive funds from the sale of items on EBay. Overall, between 1st June 2020 and 31st July 2020 a total of 95 reports have been made which specifically mention that the item sold was a camera.

Messages are sent by fraudsters pretending to be friends/family stating that they have sold a camera on eBay but that they are unable to process the payment as they either do not have a PayPal account or because their Pay Pal account is not working. The request is that the message recipient receives the funds into their own Pay Pal account, then, after transferring it into their own bank account, they forward it onto an account controlled by the fraudster.

If the victim agrees the payment is transferred into their Pay Pal account but, after the money is transferred out, the initial transaction is reversed leaving the account in negative balance.

Multiple reports have also been received from victims stating that their Facebook Messenger accounts have been hacked and that these fraudulent messages have been sent to all their contacts on their behalf. The total reported loss for these reports is £44,035.

Please note: original communication ‘Compromised Facebook accounts used to lure victims into PayPal scam’ sent by City of London Police (published 18/08/20) Ref: 2007002

 

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Notes to Editors:

About Covéa Insurance

Covea Insurance plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France, generating over 16.3 billion Euros in premiums in 2017.  

Covéa Insurance looks after the insurance needs of over 1.5 million policyholders; delivering financial reassurance through its Standard & Poor’s A+ stable rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, pet, mid and high net worth insurance and a range of commercial insurance products, through a range of distribution channels. Employing over 1800 people, Covéa Insurance has a strong people and service ethos, having Investors In People Gold accreditation and is signatory to the HM Treasury Women In Finance Charter. It also has World Class service accreditation from the Institute of Customer Service for its Motor Claims, Home Claims and Underwriting Services teams as well as Chartered Insurer status for its Commercial and Mid/High Net Worth business.

In 2018, Covéa Insurance were recipients of the Personal Lines Insurer of the Year award at both the British Insurance Awards and the Insurance Times Awards and was the top rated insurer in the Insurance Times Broker Service Survey for both Personal and Commercial Lines.

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