It was a stark reminder of the potential danger of buying from online marketplaces: An off-duty police officer from New York was shot and killed during an attempted robbery when he showed up to buy a car he saw on Facebook Marketplace.
It’s an extreme example but one that anyone who uses an online platform may face. As Consumer Reports explains, there are some safety steps you should take before you meet up for a sale.
The amount consumers have lost to all types of social-media fraud grows every year. In 2021 alone, it was $770 million. But no matter how sophisticated scammers are, there are ways to protect yourself.
Think about where the sale will take place. Meet in a public, well-lit area — never your home. Consider a police station, for example. Some of them even have designated parking spots where marketplace meet-ups are watched by security cameras.
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Another tip: Never exchange cash. Facebook Marketplace recommends a secure person-to-person payment method.
Not all P2P apps are the same, however, according to CR. Don’t just assume that default settings are the ones that manage your privacy and security, and that they have the best policies for helping you get your money back in case of an error.
Consumer Reports looked at four popular peer-to-peer apps – Apple Cash, Cash App, Venmo and Zelle – and found that none of them reimburse users for sending money to the wrong person or sending too much money by mistakenly adding extra digits to an intended amount.
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Finally, Consumer Reports says some scammers lurking on Facebook Marketplace aren’t after your money: They’re after your data. Never share personal information like your postal address, email address or phone number.
