The Hidden Risks Behind Online Marketplace Deals
“You won’t find this deal anywhere else, it’s a steal.”
“If we keep this off the site, I can give you an even better deal.”
“I accidentally overpaid for shipping. Could you just send back the difference?”
Online marketplace scams are more common, and more costly, than many people realize. FTC data shows that in 2025, over $2.1 billion was lost to scams that started on social media, with Facebook being the most common starting point. These scams often involve payments for items that never arrive, or fraudulent activity that occurs before, during, or after the sale.
How do online marketplace scams work?
Online marketplace scams often begin as routine transactions, an eager buyer or a too-good-to-be-true deal. Scammers use realistic looking fake profiles and quickly push conversations off social platforms to text or email, often creating urgency. They then request hard-to-reverse payments like Zelle, Venmo, wire transfers, or gift cards. In some cases, fake sellers send convincing but fraudulent payment confirmations or links, putting your money—and personal information—at risk.
What are the risks?
Falling victim to these scams can have a significant impact on your finances and personal information. Here’s what can happen:
- Financial loss: Paying for items that are never delivered
- Loss of goods: Handing over an item based on fake or reversed payments
- Account compromise: Clicking links that steal your login information
- Identity exposure: Sharing personal details with someone who is pretending to be legitimate
- Emotional stress: Dealing with the frustration and aftermath of being scammed
How can you protect yourself?
- Stay on the marketplace platform. Avoid moving conversations to text or email too quickly since marketplace platforms offer some protection.
- Be cautious with payments. Never send money using methods that can’t be reversed (Zelle, wires, gift cards, PayPal, etc.), especially to someone you don’t know.
- Check seller profiles, review activity, and be wary of brand-new or incomplete accounts.
- Avoid pressure tactics. If someone rushes you, step back—scammers rely on urgency to override your judgment.
- Don’t click unfamiliar links. Especially those claiming “payment confirmation” or requiring you to log in.
- Meet safely for local sales. Choose public locations and avoid sending deposits in advance.
- Trust your instincts. If a deal seems too good to be true, it probably is.
TruNorth Bank is here to help!
We’re committed to helping you stay informed and protecting you from emerging fraud threats. That’s why we’re partnering with Equifax to offer ID Watchdog®, an award-winning identity theft protection service, to provide greater peace of mind by helping you better protect the personal and financial information of you and your family. Visit us in-person at one of our offices or call Customer Care at 978.573.1300 to enroll today! Click here to learn more.
If you ever suspect a scam or notice unusual activity, contact Customer Care. For more tips and resources, visit our fraud prevention center or visit your local office.
