Safeguard Your PayPal Account

We’ve heard reports from three of our readers that their PayPal accounts have been compromised and funds used to purchase software and “game tokens” for Zynga Poker on Facebook. A quick Google search shows that many people have had their PayPal accounts hacked to purchase Zynga tokens, so this may not be penny auction related.

However, now may be a good time to create stronger online passwords.

When you register on penny auction sites do you use the same password on each site? Do you use the same password for PayPal?  For your e-mail account?  😮 Change your passwords now! Please make sure you have separate, unique & strong passwords for each penny auction site you use & for your PayPal account. Also, beware of spoof PayPal e-mails. There’s also a way to further safeguard your PayPal account to prevent unauthorized access. In 2007, PayPal started providing a PayPal Security Key, the  VeriSign Identity Protection (VIP) Security Token device generates a six-digit security code that is unique to your account.   The PayPal Security Key also works with eBay and costs $5.

You may want to purchase the PayPal Security Key

 

 

http://www.flickr.com/photos/robertnelson/ / CC BY 2.0

 

Get an extra layer of protection with the PayPal Security Key – it’s easy to use and portable, so you can access your account with confidence from just about anywhere.

What is it?

The PayPal Security Key creates random temporary security codes that help safeguard your PayPal account when you log in. It comes in 2 types, each with different advantages:

1. Security key: You carry this small credit-card sized device with you. It creates a unique security code on the go.
2. Mobile phone security key: You can sign up to get security codes sent by text message to your mobile phone.

How much does it cost?

The mobile security key has no costs, except your mobile provider’s standard text messaging charges. Check with your mobile provider for details.

Each security key is $5, and there’s no monthly service fee or additional cost. Replacement keys are the same price.
How do I get started?

1. Choose the type of security key you want. If you’d like to start using your mobile phone as a security key, you can sign up today. If you’d like a security key, we’ll ship it to you.
2. Activate it from your PayPal or eBay account.

Has your PayPal account been compromised? Please report any unauthorized transactions to PayPal.

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3 comments… add one
  • Gregory Creaset January 12, 2010, 5:42 am

    I work for VeriSign and hear plenty of stories of comprimised accounts across auction sites and via paypal. Echoing your advice to not only use completely different passwords, but to also change them often. Adding a second layer of protection like 2 factor authentication. (which requires authentication on each log-in via a new seed code), would be wise.

    Reply
  • Tim November 20, 2010, 8:17 am

    Definitely very useful
    I got the SMS notification Paypal key
    which sends you an sms with a key
    everytime you long into paypal
    Its better to be save than sorry

    Reply
    • Tim November 20, 2010, 8:17 am

      *Its better to be safe than sorry

      Reply

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