Facebook Marketplace scams are a sadly commonplace occurrence on the platform, and recent reports indicate the problem may be getting even worse. For example, a recent study of Facebook Marketplace sellers conducted by TSB retail banking company, a UK financial institution, found that 34 percent of listings were fraudulent. The company also concluded that buyers are losing a little over £160,000 a day to these scams while more than £59 million may have been lost in 2023 alone.
“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,” said Matt Hepburn, TSB’s fraud spokesperson. “Social media companies really must act on their commitments under the government’s Online Fraud Charter by urgently clearing up their platforms — removing scam adverts is a good first test.”
According to the study, vehicles and vehicle parts were by far the Facebook Marketplace items most associated with scams, followed by phones, shoes and clothing, and games. However, the study also pointed out that these scams are easy to recognize because they almost always seem too good to be true. So as long as you remain alert when shopping on Facebook and carefully scrutinize listings, you can do a lot to protect yourself from falling victim to fraud.
Choose what the experts use: award-winning cybersecurity you can trust and rely on.
Surf the web truly incognito. Try Bitdefender Premium VPN, the ultra-fast VPN that keeps your online identity and activities safe from hackers, ISPs and snoops.