More than 31 million small businesses use PayPal to collect online payments, according to Forbes. Marketing experts estimates that the number of PayPal users worldwide will reach 223.3 million in 2023, and that number is expected to increase by roughly 6% annually in the years to come. Merchants and consumers alike gravitate to PayPal, an electronic payment site that's now 24 years old, because the platform easily manages transactions, keeps thorough financial records for users, and generally provides a seamless way to avoid conducting business with checks and cash. The platform's popularity, however, also makes it attractive to bad actors. Cybersecurity expert Theodor Porutiu from VPNOverview.com recently outlined several common scams that impact PayPal users. They includes phishing emails directing users to fraudulent PayPal accounts, fake promotional offers or cash prizes, and bogus services that request payment in advance. The slideshow above illustrates seven tips from VPNOverview.com that businesses and consumers can use to avoid falling victim to a PayPal-enabled online scam. See also: |
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
