ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Here's How to Identify the Latest Scams on Facebook Marketplace

Learn to spot the latest scams on Facebook Marketplace and stay safe with tips from real user experiences.
PUBLISHED JUL 30, 2023
Image Source: Getty Images | Photo by Justin Sullivan
Image Source: Getty Images | Photo by Justin Sullivan

Facebook Marketplace has become a popular platform for buying and selling items. However, scammers continue to exploit unsuspecting users, leaving them vulnerable to financial losses and identity theft, reports Fox News. The media house recently received this message from, Mike D. of Conover, North Carolina, about some Facebook Marketplace scams he says he's encountered and wants to let others know about them. He started off, writing, "Hey, Kurt: I have busted a few FB Marketplace scams over the last few years. We were looking for a boat a few years ago. We did finally buy one, but before we did, I ran across a very nice pontoon boat that was way underpriced.”

And ended his message with, "Hmmm ... I think they are counting that most people won't look more than 50 miles away." Mike’s Experience Clearly states that Facebook Marketplace scams offer red flags to watch out for to avoid falling victim to these scams. Here's how you can remain alert and avoid such scams on Facebook Marketplace:

Image Source: Getty Images | Photo by Dan Kitwood
Image Source: Getty Images | Photo by Dan Kitwood

One of the most crucial steps in avoiding Facebook Marketplace scams is to carefully examine the seller's profile, as highlighted by Mike D.'s experiences. Look for telltale signs of legitimacy, such as an active account with a decent number of friends, pictures, and posts. Scammers often have sparse profiles or newly-created accounts to avoid suspicion. If the seller's information seems inconsistent or lacks credibility, proceed with caution, as it could be a potential scam.

Take note of any conflicting details about their location or personal background. Scammers may try to deceive by providing inconsistent information. Paying attention to these details can help you make a more informed decision before engaging in any transactions with them.

Image Source: Getty Images | Photo by Dan Kitwood
Image Source: Getty Images | Photo by Dan Kitwood

Based on Mike D.'s experiences, scammers often ask for payment via gift cards or unconventional methods. Legitimate sellers would typically accept secure payment options like PayPal or credit cards. If a seller insists on payment through gift cards, wire transfers, or cryptocurrency, it's a clear red flag. Such transactions are difficult to trace, leaving victims without recourse in case of fraud.

Be wary of sellers who claim to be using third-party services for payment. Mike D. shared his encounter with a seller who directed him to make payment through eBay because she had already moved. However, reputable sellers would never use such methods. Always use secure and established payment methods to protect your interests.

One of the steps to follow is to be vigilant about duplicate listings, as scammers tend to post the same item in multiple locations. Scammers use this tactic to widen their net and target a broader audience. To identify potential duplicates, perform a reverse image search or use keywords from the listing to check for other instances of the same item.

If you find identical ads in different regions or states, it's highly likely to be a scam. Scammers count on the fact that many buyers won't look beyond their local area, making it easier for them to deceive unsuspecting individuals. Be proactive and report suspicious listings to Facebook to protect others from falling victim.



 

Drawing from Mike D.'s experiences, scammers exploit emotions to gain trust and sympathy. They may craft elaborate stories about personal tragedies or hardships to make buyers feel compelled to help. Be cautious of sellers who evoke a sense of urgency, claiming they need to sell quickly due to unforeseen circumstances. Such tactics are designed to pressure buyers into making hasty decisions without proper verification.

Always be skeptical of sob stories, especially if they seem too perfect or too tragic to be true. Scammers prey on emotions to lower your guard and make you more susceptible to their ploy. Take your time to evaluate the situation and gather all relevant information before making any commitments.



 

Limit your communication with sellers to Facebook Messenger. Never provide sensitive details like phone numbers, addresses, or financial information during negotiations. Sharing such data with scammers may lead to identity theft or other malicious activities. Protect yourself by keeping all conversations and transactions within the secure confines of Facebook's messaging platform.

When meeting a seller, choose public places for the exchange. Coffee shops, shopping centers, or community centers are ideal, as they offer security and visibility. If meeting in person is not possible, opt for reputable shipping services with tracking and insurance options. Always verify item details and agreed-upon terms before finalizing any deal.



 

Whether you're buying or selling, prioritizing safety and security is essential. Trusted and reputable shipping services can provide added protection for online transactions. Always ensure that you and the other party are on the same page before proceeding with the transaction.

MORE ON MARKET REALIST
Many who didn't like Seacrest at first seemed to have come around through the season.
14 hours ago
The guest couldn't believe her ears when she heard that her old gift from a friend was worth $10,000.
16 hours ago
The presentation from the founders of "Bear Minimum" managed to move multiple Sharks.
17 hours ago
While the expert on the BBC show did his duty of sharing an appraisal, the guest did not budge.
19 hours ago
Fans couldn't believe how quickly the contestant solved the Bonus Round puzzle.
1 day ago
The entrepreneur was called a clever negotiator by all sharks although most of them dropped out.
1 day ago
The guest was in tears after learning that her family's prized possession was worth over $100,000.
1 day ago
The guest got incredibly lucky to find a Benny Andrews painting while looking at junk.
1 day ago
The guest was shocked to learn that someone would pay $20,000 for Queen Victoria's undergarments.
2 days ago
The guest's family heirloom turned out to be exactly as valuable as he thought.
2 days ago
The guest who assumed it was an ancient Chinese artifact said it felt like 'a stab to the heart'
2 days ago
While all the sharks burned calories, most were unwilling to burn their money.
3 days ago
In an interview with CNET's Patrick Colin, Harrison showed off his vintage tech items.
3 days ago
The item, which didn't seem too useful as a cup, turned out to be a significant piece of history.
3 days ago
The player had everyone on the edge of their seats as time was running out.
4 days ago
The member complained that the store had half-eaten boxes of food on the shelves for customers.
4 days ago
The owner of Michael Jordan's three rookie cards from 1986 to 1987, who got them for $12, was hoping to get $1,000 for the set.
4 days ago
The ring with a rare Kashmir Sapphire turned out to be worth a lot more than the guest anticipated.
4 days ago
The host once again got candid to open up about one of his greatest fears.
4 days ago
The guest's $1,500 investment went up by nearly 10 times in value.
5 days ago