summit-bracket2 bracket2 atm-outline location-pin-outline location-pin-filled atm-filled calendar2 bracket google-play[2] app-store summit-location-pin-lg code lock user worksheets phone print programs open pdf checkmark-form close-x close download checkmark-chart checklists blog-tools social-facebook social-google-plus social-pinterest LInkedIn-2C-128px-R instagram-rainbow social-twitter social-youtube ehl calendar calculators bracket22 checkmark email text-area-corner external-link success error information warning calendar-add-event auto-rates mortgage-rates home-equity new-certificates ncua summit-logo-itmoi arrow-left arrow-right checkmark2 summit-logo-white summit-bracket silhouette arrow-down arrow-up auto-rates2 blog calculators2 call ehl2 home-equity2 itmoi locate mortgage-rates2 new-certificates2 programs2 search summit-location-pin-sm tools clock

AVOIDING FACEBOOK MARKETPLACE SCAMS

Marketplace Scams

Facebook Marketplace has become a wildly popular way for people to buy and sell goods online, from antique lamps to used cars. Unfortunately, it’s also become a hotspot for fraudsters – and they’ve found tricky ways to scam both buyers and sellers alike.

Common Marketplace scam tactics:

  • Pressuring you to pay for the item ahead of time or make a deposit to “secure” it.
  • Listing a counterfeit or non-working item at a “too good to be true” price.
  • Asking you to send back codes texted to your phone – This could be a two-factor authorization code used to hack into one of your accounts!
  • Sending you fake payment receipts from popular peer-to-peer payment apps (PayPal, Venmo, etc.) – Scammers create these as payment “proof.” Your safest option is to not pay for items using these apps. Use your debit/credit card or even choose “paying for an item or service” in PayPal, so you can dispute the charge if it’s fraud.

Tips for protecting yourself:

  • Review the seller’s or buyer’s product reviews and ratings.
  • Don’t communicate with buyers or sellers outside of Facebook Messenger.
  • Meet up at a public place, even a police station, to complete transactions.
  • Don’t complete payments if pressured to do so through untraceable methods, like gift cards.


If you think you’ve been a victim of a Facebook Marketplace scam, report it to Facebook and reach out to your financial institution right away. Summit members, you can always reach us at 800‑236‑5560 or reportfraud@summitcreditunion.com.  

Please share details with us when you hear of, or experience, a possible scam! This helps us inform and protect our members and community.

Want more fraud-fighting tips?

Keep exploring more ways to spot and stop a scam.

 

Sources:
AARP
Business Insider

Here for you

Find your nearest branch or surcharge-free ATM.

Summit Map
Or Find Near You: