Are there any pitfalls of PayPal?

PayPal has had many problems with online fraud, principally international hackers who were breaking into PayPal accounts and moving small amounts of money out of multiple accounts. Standard solutions for merchants and banking fraud might use government criminal sanctions to pursue fraudsters. PayPal consumers are not liable for fraudulent charges to their PayPal accounts.

However, that being said, PayPal is also taken advantage of by phishers. Phishing is the application of using fraud and malicious software to obtain customer’s usernames and passwords to gain access to accounts. Someone who gains fraudulent access to your PayPal account could clean out your bank account too, and there is also a risk of Identity Theft with PayPal. Fraudsters have many different tricks.