The PayID Email-Based Scam

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 The PayID Email-Based Scam

The PayID Email-Based Scam

As digital payment methods continue to gain popularity, scammers are adapting their tactics to exploit vulnerabilities in these systems.

PayID, a convenient and widely-used online payment method, which is not immune to such scams.

PayID email-based scams typically involve scammers posing as legitimate entities or individuals who request your email address and subsequently send fake payment requests. These scams are designed to deceive victims into sending money to the fraudsters.

How does the PayID scam work? If you’re advertising an item online, through Facebook Marketplace, Ebay, or other platforms, a scammer will usually make contact to purchase the item.

They usually will not question the price, and they are unlikely even to want to view the item. They will then state that they will make a deposit immediately. In many cases, they advise you that a family member or friend will collect it from you.

The offender will then urge you to accept payment through PayID. Once you’ve shared your PayID (usually phone number or email address) and the scammer has this information, a few things may happen.

  • The offender will say they have made the payment, but it cannot be processed because you don’t have a suitable PayID account. You will be told you either need to “upgrade” the account and/or make an additional payment to release the funds.
  • The offender will then say they have paid the extra amount required and ask you to reimburse the additional funds they have spent. If you do transfer any money, it will go straight to the scammer and be lost.

If you inspect this email, the email sender’s address will have various spelling errors in it, and the content of the email will look like a copy and paste.

PayID is a free service. There are no costs associated with using it, and therefore, no fees will ever need to be paid.

PayID will never communicate directly with customers through texts, emails, or phone calls. Any correspondence that says it is “from PayID” is fake and created by the scammer.

Real buyers will want to ask more questions about the item or inspect the goods prior to purchase.

A buyer who says they will send a family member or friend to collect the item is a red flag, especially if they are unwilling to pay in cash upon inspection.

To avoid Scams always Verify the Sender:

  • Always double-check the sender’s email address. Scammers often use email addresses that resemble legitimate sources but contain subtle variations or misspellings.
  • Be cautious of unsolicited emails requesting your email address for payment purposes. Legitimate organisations and individuals typically do not need your email address to send money via PayID.
  • Inspect the Email Content:
  • – Carefully review the content of the email. Pay attention to any grammatical errors, typos, or inconsistent formatting, as these are common signs of a scam.
    – Be suspicious of urgent or high-pressure language in the email, such as threats or demands for immediate action.

  • Don’t Click on Suspicious Links:
  • – Avoid clicking on any links or downloading attachments within the email unless you are absolutely certain of their authenticity. These could contain malware or lead to phishing websites.

National Inquiry Agency has seen a lot of scams. It’s a shame it occurs. Be diligent and protect yourself, and if you have any doubts, please reach out to us.