How to Avoid Paypal Scams

Be weary of snail mail you might have received from IC System. They will claim you have a delinquent account through Paypal that's been given to a collection agency. At first glance this may seem fraudulent but not always. Then they provide you with your updated balance amount that is due.

The scam started back in May 2014 when Ebay passwords were compromised by hackers in China. Individuals who used the same passwords for Ebay as they did Paypal were hacked.

Here's How the Scam works: 
Many unsuspecting people forgot they had old Ebay accounts and so did not change their password in May after it was announced in the news that Ebay passwords had been comprised. The hackers then took those passwords and attempted to log into as many Paypal amounts as they could, knowing that many people simply use the same password for both accounts. The hackers who are also Ebay sellers were then able to access these individuals' Paypal accounts and began charging their Ebay fees and charge backs to these Paypal accounts.

If you think you might have an old Ebay and Paypal account that you abandoned, or if you haven't recently logged in to change your password, than you need to call Paypal at 1-888-221-1161.