Fraudulent transactions and scams are an unfortunate part of many WeChat users’ experience, as it’s often difficult to assess whether the person or account we are dealing with is legitimate. That’s why the WeChat security team has just released a new, more secure transaction feature on July 3rd that alerts users of a potential risk.

Take the example of Xiao Fang, an online shopper who paid someone on WeChat to receive the good she’d purchased, but as soon as the other side received the money, Xiao Fang was blocked and could no longer communicate with the account she’d been dealing with.

That’s when she knew she’d been defrauded.

To avoid such scams from happening, WeChat payment now assess security risks through advanced technology to identify potential malicious accounts and transactions, and alerts the user before letting the payment through.

For 15 minutes, WeChat will intercept and protect the transaction, providing the sender with a higher level of awareness that their money may be at risk, and giving them the final say on whether they wish to move forward with the transaction or cancel it.

If this happens, the following message will pop up:

“Your transaction may be at risk and cannot proceed at the moment. Please confirm the identity of the other party carefully before moving forward. If confirmed successfully, the transaction will resume in 15 minutes.”

“The other party is suspected of fraud and in violation of WeChat payment terms. In order to protect your financial security, your transaction has been paused. You must accept the risk of this transaction before moving forward.”

The WeChat payment team has stressed that users who receive this message are very likely to be in a high-risk situation and should think twice before proceeding with paying the other party. The 15 minutes are set to give users enough time to confirm the identity of the person or account they’re dealing with, and help them change their mind if they feel unsafe.

The “pay now, receive the goods later” is a risky business that you should be wary of when dealing with people online whom you’ve never met. Let’s hope that WeChat’s new alert will prevent others from ever getting scammed again!

Have you experienced this type of fraud on WeChat in the past

Source: GIC Expat

Author

Shenzhen Blog Editor