If you are selling something online, or through an ad, you may be targeted by an overpayment scam. Overpayment scams occur when someone sends you too much money, then requests a refund for the excess amount. Here are 6 tips to help you spot and avoid being a victim of an overpayment scam.
 

• Do not accept an overpayment. If you receive a check or payment for more than the agreed sale amount, send it back or cancel the order and ask for another payment with the correct amount.
• Do not ship any item or return any funds until you are sure the payment is valid. Consider a delayed refund policy or reputable escrow service to hold funds until you are sure that the payment is legitimate.
• Guard your private information. Never mail a check with your address and/or account number on it. Always return funds through a secure system.
• Only use secure payment methods you are familiar with. Consider only accepting credit card payments through trusted, secure payment systems, such as PayPal, Apple Pay or Google Pay.
• Don’t use nearly untraceable payment or delivery methods. Once an online banking transfer, gift card or wire is sent, you have no recourse if the payment is fraudulent.
• Keep it simple, and consult help early. If using an auction or reseller site, such as eBay or Amazon.com, follow their fraud department policies.

Need to report a scam?
Federal Trade Commission
National Association of Attorneys General