PayPal Impersonation Scams

April 25, 2024 | We have recently seen an increase in reports of PayPal Impersonation Scams in our area. This scam typically starts by the victim receiving an email that appears to come from PayPal that asks about a suspicious transaction and provides a phone number to call if the transaction in question was not authorized. Fraudsters will then ask to remotely access the victim’s device, usually stating that they need to either run a security check or need to issue a refund for the suspicious charge. Once the fraudster is connected to the victim’s device, the victim is asked to log into Digital Banking.  

The fraudster quickly makes it appear as though a refund was processed into the victim’s account; however, the fraudster “accidentally” refunds a much larger amount. The victim is then asked to go to the bank and withdraw excess funds in cash or in the form of gift cards and send the money back to PayPal. The fraudster will often say that they are going to get fired if the funds are not returned and tries to make the victim feel bad. 

Please be aware that PayPal will never ask you to remote into a device or ask you to download an application to give them access to your device. Additionally, no legitimate company will ever ask you to lie to your bank about the purpose of a cash withdrawal or a transaction. These are indicators of a scam.  

If you feel like you may have been targeted by this scam, please contact the credit union right away to ensure your accounts are protected.