Online sellers warned about fake banking app

Get Safe Online has received reports of a new scam which is being used by criminals to steal from people selling goods on social media marketplaces, when they collect goods in person.

The Scam

A fake banking app on the ‘buyer’s’ phone falsely indicates that the money has been transferred to the seller’s bank account.

The seller enters their bank details into the fake app, resulting in a notification on the app that the money has been successfully transferred. However, when the seller checks their account, they find that the money has not been received. Typically, the criminal pretends to call their bank and claims they have been told that it takes up to two hours for the funds to appear in the seller’s account. When the money has still not been received in the seller’s account after this time, the fraudster has disappeared with the goods and, potentially, the victim’s bank account details.

Get Safe Onlines’ Advice

  • Always check buyers’ reviews and seller feedback. Accounts that have been set up very recently with a large volume of similar positive feedback could indicate fake reviews.
  • Always use the marketplace’s recommended method of payment (such as PayPal) and read the terms and conditions to check what you are protected against. Paying in any other way than via a recommended payment site – such as an app on the buyer’s phone or via bank transfer – could result in losses which you or your bank cannot recover. If you do pay via bank transfer, always check with your own bank if any payment is shown as pending.
  • Don’t allow the buyer to change the original agreed meeting place.
  • Don’t be rushed into handing over goods before you are sure that payment has been received.
  • Consider making cash payments at yours or the buyer’s bank premises for added protection.
  • If you have been defrauded, report it to Action Fraud at or on 0300 1232 2040.

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