PayPal Invoice Scams: Is PayPal Safe To Give Your SSN?

PayPal is a popular money transfer app with 325 million users worldwide. The app’s features are easy and convenient, but the service also has scammers commonly targeting its userbase. 

Is It Safe To Give PayPal Your SSN? 

PayPal will occasionally take extra steps to verify your identity. If you want to keep a balance in PayPal or run a business using PayPal, you may be asked to provide your Social Security Number (SSN).

It is safe to give your SSN to PayPal, assuming there is a legitimate reason they are requesting it. 

That being said, continue to be cautious giving your social security number. If you receive an email or text message from an entity claiming to be PayPal, double-check that it is legitimate and not a phishing scam.

PayPal Fake Invoice Scam 

The PayPal scam invoice has emerged as a popular new scam victimizing PayPal users. The scam commonly appears as an email claiming that you’ve received an invoice via PayPal.

If you click the link in the message and pay using your PayPal account, the money is transferred to the scammer’s bank account. 

Be careful. It is easy to fall for this scam because the scammers use real PayPal invoices while imitating another legitimate company or organization. This can range from charities to popular companies.

Watch Out for Risenest LLC PayPal Invoice Scam | Trend Micro News

How Do Hackers Conduct The Invoice Scam?

Hackers will create a PayPal business account impersonating famous brands or organizations you recognize, like Risenest Technology or Target. Then, the hacker will use that account to send a personalized invoice. 

PayPal will then notify you of an invoice. This is what we mean when we say the invoice is “real.” If you navigate to your PayPal app, you can view and pay the invoice to the scammers using the app. 

On top of that, the scammer can customize the message included with the invoice to claim that you will be charged a subscription or processing fee. Knowing that you’re likely outraged or want to cancel, the scammers include a phone number you can call.

This phone number puts you directly in contact with the scammer, who will pretend to be customer support and want to help. They may direct you to download “remote control” software on your device.

Do not do this. Once you do this, they will take over your device and steal information and money.

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