Facebook Marketplace accounts for 73% of all purchase fraud cases at one British bank. TSB, a British bank, claims that more than one third of adverts on Facebook Marketplace are scams and consumers should avoid making purchases on that website.
TSB Bank added that Facebook Marketplace accounted for 73% of all purchase fraud cases and was the biggest driver of fraud by volume, as reported by The Times today Thursday, January 18, 2024.
Comment: I am flabbergasted because this is a very high percentage. I've just visited Facebook Marketplace to have a look at it for the first time and it looks perfectly normal with lots of free items by the way. Scams?
The fraud spokesman at TSB, Matt Hepburn said:
"You wouldn't shop at a supermarket if a third of the items were stale or counterfeit, so the same should apply to Facebook Marketplace, where you have a one-in-three chance of being scammed when paying online. Social media companies must act on their commitments under the Online Fraud Charter by urgently clearing up their platforms. Removing scam adverts is a good first test."
A TSB fraud team tested Facebook Marketplace. They contacted the sellers and concluded that 34% of the listings were fraudulent.
These allegedly fraudulent sellers used tactics such as:
- directing the buyer to fake websites and
- refusing to allow viewings of an item in person and
- demanding fees in advance.
Warning: nobody under any circumstances should send money in advance unless you are absolutely sure that the business or person you are dealing with is genuinely bona fide i.e. is behaving scrupulously and with integrity.
Example: a Ninja Air Fryer for sale on Facebook Marketplace was listed as brand-new at £65. The genuine retail price of the item is £249. Buyers were redirected to a fake website when they clicked on the link to purchase this product.
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