Facebook Marketplace scams are on the rise - with the boom of the buying and selling platform leading to an influx of fraudsters.
Fraud bosses say scams related to the platform now take up more time at bank call centres than any other type of purchase fraud, with industry insiders said to be concerned at a lack of customer protection on the site.
On Facebook Marketplace, sellers list goods and arrange a sale with potential buyers by using the social media giant's built-in messaging platform.
The site has seen a sharp rise in popularity over recent years, with pressures on households from the cost of living crisis encouraging them to buy second hand or sell their own belongings to raise cash.
While originally set up to allow users to see what's for sale in their local area, more items are now being sold over a longer distance, giving it a similar function to online marketplaces such as eBay or Amazon.
But while these sites offer built-in payment, Facebook does not - meaning it is far more difficult to get your money back should the item be missing or faulty.
Image:
Getty Images)This year to date, Action Fraud has received 44,674 reports which mentioned Facebook or Facebook Marketplace.
TSB meanwhile says three in five reports of social media purchase scams it receives can be traced to Facebook, and the majority of purchase scams it deals with come from Marketplace.
According to experts, these are the most common tricks used by scammers on Facebook Marketplace:
Bank transfers
As there is no option to pay by card, buyers can only pay for goods on Facebook Marketplace by cash or bank transfer - meaning you can be left without any protection if a seller fails to send an item.
While transactions on credit or debit card offer the ability to get money back through chargeback schemes if a purchase turns out to be a scam, paying by bank transfer means you are completely at the mercy of your bank in terms of getting a refund — and different banks have different policies.
Paul Davis, director of fraud prevention at TSB, says Marketplace users should be aware of the informal setup of the site when buying, and only use it to buy items you can collect yourself.
He said: "It's a bit of a lottery as to whether the person you are dealing with is trustworthy, or the item exists or is as described. You're on your own and are taking a gamble. It looks like eBay or Amazon but it hasn't got the same protections around it. It's no different from someone pinning up an advert on a noticeboard."
Image:
AFP via Getty Images)Asking you to pay under 'friends and family' on PayPal
On Facebook Marketplace, some sellers will ask you to send payment by PayPal and select the "Friends and Family" option.
By you choosing this service, the seller can avoid paying the fee charged to business accounts.
However, as "Friends and Family" payments essentially function as a money transfer rather than a transaction, they not covered by PayPal’s buyer/seller protection schemes.
This means it is unlikely you will be able to get your money back should there be an issue with your purchase
PayPal advise you should never use this method of payment unless you are sending money to an actual friend or family member.
Fake profiles and ads
While sellers on Amazon and eBay have to pay a fee to be able to use the platform, all you need to start selling on Marketplace is a Facebook account.
But fraud experts say this has opened the door to scammers, who set up fake profiles and use photos stolen from real listings to advertise fake deals.
Rogue sellers can pull the same scam over and over by setting up multiple profiles, and can rope in multiple people with the same post.
If the seller is using a very new account and there is little activity on their page, be on your guard.
Image:
AFP via Getty Images)The 'too good to be true' bargains
The old adage of 'if it seems too good to be true, it probably is' should be kept in mind when using Facebook Marketplace, and suspiciously cheap products may be the sign of a scam.
Fraud expert Jack Buster of ActionScam says anyone looking to buy a motorhome or campervan should be especially vigilant, as these are big business for criminal gangs."
He said: "These fraudsters have got a massive database of vehicles, with pictures and words, and they just recycle them. If enough people read it, a few are going to fall for it"
"As a general rule of thumb, scammers slash the price by half or even to about 25 per cent of its value.
"The value of motorhomes has rocketed over the past couple of years. Vehicles that were £12,000 are now £25,000. The price of a fake motorhome now looks similar to the price of what a real one used to be two or three years ago. So even if it looks really expensive it could still be a scam.""
Fake 'buyers'
Sellers can also be targeted by fraudsters, who often send hoax phishing links asking them to pay for shipping.
These fake 'potential buyers' will tell the seller that they want to buy the item, but are not based in the UK.
They will then suggest using a courier service to pick the item up, and follow this up by sending a link to a courier site to be used to 'pay for shipping'.
But this website will in fact be a fake, with all card details you enter being sent directly to the scammer.
Meta, which owns Facebook, says it works closely with law enforcement to support investigations and keep scammers off its platforms. It is also a part of Stop Scams UK, a cross-industry initiative to help scams at source, and spent $5b (around £4b on safety and security last year.
