Etsy new seller scam

TheFunkyWick

Totally disgusted with Etsy and the bank. Whilst opening a new seller account and admittedly, very excited, I ended up getting scammed for the whole contents of our business account. No security on Etsy. They are very aware of the problem yet to the scam continues obviously frequently. The bank don’t care they have frozen our account and to make it even worse. Etsy have refused to open up an account for us. So not only do we not have an Etsy account at all but we’ve also lost all of our money. This cannot be fair. 

soolin

TheFunkyWick said:

Totally disgusted with Etsy and the bank. Whilst opening a new seller account and admittedly, very excited, I ended up getting scammed for the whole contents of our business account. No security on Etsy. They are very aware of the problem yet to the scam continues obviously frequently. The bank don’t care they have frozen our account and to make it even worse. Etsy have refused to open up an account for us. So not only do we not have an Etsy account at all but we’ve also lost all of our money. This cannot be fair. 

How did etsy steal all your business money - this seems very strange. Most people sign up and authenticate themselves safely, do you mean that you were intercepted by a scammer masquerading as etsy or sent money to someone as no one can just access your bank monies.

TripleH

@TheFunkyWick, please can you elaborate what happened?

I'm looking at opening an Etsy account and obviously concerned now there might be an issue.

soolin

TripleH said:

@TheFunkyWick, please can you elaborate what happened?

I'm looking at opening an Etsy account and obviously concerned now there might be an issue.

There's no known issue with opening an etsy account - it's the same as with any site, you will probably be asked to identify yourself but you certainly don't need to hand your bank security details over to anyone- just bank details so that you can actually be paid. Just like ebay. 

For a wider picture and from a business point of view,  etsy fees are slightly lower than ebay, but there are far fewer buyers and the categories are quite strict with what you can and can't sell. 

TripleH

Thanks, no I assumed the risk is as per opening an Ebay account. I was wondering if this was a scam exploiting usage rather than registration.

Spoonie_Turtle

I don't know the details of the scam but I do know there are scammers on there sending messages purporting to be Etsy, and I hear they look quite convincing even to experienced sellers which is very concerning.

soolin

Spoonie_Turtle said:

I don't know the details of the scam but I do know there are scammers on there sending messages purporting to be Etsy, and I hear they look quite convincing even to experienced sellers which is very concerning.

It doesn't matter how convincing a message looks, security or log in details should never be handed over., there is no reason at all why any site would need these except to scam.

Lots of scams on Vinted as well,  messages purporting to be from Vinted asking people for all their security details, and even the available balance on their account (so they know how much to withdraw safely without raising alarm from the bank) it doesn't matter how many times banks warn about these obvious scams some people fall for them. Yes it is a scam, but nothing to do with the site involved as is suggested by the OP title. These scams are just one step removed from the ones sent to your email telling you it's your bank and you need to hand over all your details to them .

GadgetGuru

Clearly more to the story than the OP has stated. 

[Deleted User]

I have been scammed today new to Etsy… a message  from what looked like Etsy on their messaging system with a profile picture what very much looked like Etsy, confirming my first sale and asking me to verify my bank. Before my ‘first sale’ Etsy had told me they would deposit a very small amount to my bank so that it could be verified, this never happened. So in my excitement of my first Etsy sale I have allowed someone impersonating Etsy to Steal my money! I am devastated and very embarrassed that I have fallen for this! Me who is always telling people to be aware of scams and thinking it wouldn’t happen to me. Etsy have been no help they haven’t even closed the account of the person who has done this. I have been looking into the whole Etsy app and web page and the messages that appear on a phone app are completely different to the ones on the website and look even more like a genuine message from Etsy rather than someone impersonating them. It really shocks me that Etsy are doing nothing about this and it’s happened to lots of other people.

soolin

I’m always sorry when the scumbag scammers get something out of an innocent  person and I’m sorry this has happened to the people above. 

I am intrigued though as to how the scam works as I can’t imagine someone entirely new to the internet would suddenly decide to set up an account on Etsy. 

It is worth remembering though that just giving someone bank details can’t allow them to empty your account, all they can do with a sort code and account number (which is the same info as on a cheque) is to request a direct debit from an authorised source, which of course would need to be confirmed by the account holder anyway. For someone to gain access to the account personal security details have to be handed across, no one has yet explained why they went against bank advice to keep security log in details private, and hand over sensitive information to a stranger, even if they thought it was Etsy.