PayPal is certainly one of the most popular online payment
platform used by millions of merchants all over the world. Due to security
reasons such as scams, PayPal was restricted in some countries in a bid to make
the system safer and trusted for users and that has yielded so many positive
results. But, currently there is a security issue in as some scammers are
sending a phishing scam targeting your PayPal account to get access to your
bank information.

According to a report,
the Better Business Bureau is now warning PayPal users to be on alert for the
scam.
How It Works
The Scammers will send a purchase confirmation email that appears
similar to the official one sent by PayPal.
The message informs you that you recently had a purchase on
your PayPal account.
Then they will add a link in the email to cancel the
transaction but the link is disguised and will instead download malicious
malware to your computer. Once this is done, it will start collecting your bank
information on the computer.

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How To Stay Safe
For the moment, if you are unsure of the message on your
PayPal account, ensure you dont click the links attached to the email sent to
you. The best thing to start doing now is to contact PayPal directly if you
have doubts.
Below are some tips from the BBB for identifying phishing
scams:
Protect Yourself from Phishing Emails:
Call before you click:
If something sounds suspicious, confirm it by contacting the company or
checking the company website. Type the URL directly into your browser or do a
web search. DON’T click on any links in unexpected messages.
Look for misspellings:
Look out for spelling and grammar mistakes when dealing with a
suspicious-looking email claiming to come from well-known companies.
Additionally, check the copyright at the bottom of the email – if it looks even
slightly different, then it is most likely a fake.
Be cautious of
generic emails
: Scammers try to cast a wide net by including little or no
specific information in their fake emails. Always be wary of messages that
don’t contain your name, last digits of your account number or other
personalized information.
Below is an example of a scam email:
 

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