The Berkshire Hathaway PayPal Money Request Scam Explained

Have you received a PayPal invoice stating you have a money request of $1400 from Berkshire Hathaway? This fabricated invoice is a sneaky scam targeting your account. Read on to learn how this phishing attack works and how to protect yourself.

Overview of the Berkshire Hathaway PayPal Scam

This scam starts with an email pretending to be an invoice from PayPal. It states you have a pending money request of $1400 from Berkshire Hathaway, the holding company run by billionaire Warren Buffett.

The email urges you to call a provided customer support number (+1 828 468 8044) right away if you did not authorize this transaction. However, the number actually connects you to smooth-talking scammers posing as PayPal agents.

Once on the phone, the fraudsters will convince you the money request is valid and you need to allow it to avoid account restrictions. Their ultimate goal is to gain remote access to your computer and steal your PayPal login credentials or banking information.

Red Flags to Identify This Scam

While cleverly designed, a close look reveals multiple red flags that indicate the Berkshire Hathaway email is a phishing scam:

The sender email address does not match PayPal’s official customer support addresses.
There are grammar and spelling errors throughout the email.
Berkshire Hathaway is not actually making a random PayPal payment request.
The money request and provided case ID are invalid. They do not show up when logging into your real PayPal account.
The phone number goes to scammers impersonating PayPal agents, not real support staff.

How the Scam Works

Let’s take a closer look at the specific techniques used in this scam to compromise victims:

Step 1) Victim Receives Fake Berkshire Hathaway Money Request Email

The scam starts with an email hitting the victim’s inbox with the subject “You’ve a money request of $1400 from Berkshire Hathaway.” The sender name is spoofed to appear as “Service@PayPal.com.”

The email states the victim has an open money request from Berkshire Hathaway’s PayPal account for $1400. It includes a fake case ID and claims the request will automatically accept in 24 hours.

Step 2) Email Instructs Victim to Call Scammer Phone Number

The email urges the recipient to call the listed 828 number immediately if they did not authorize this money request. This is reinforced with language intended to create urgency and panic, such as stating their account will face restrictions if they do not act fast.

Step 3) Victim Calls Number and Reaches Scammers Posing as PayPal

When victims call the number, it connects them to professional scammers impersonating PayPal billing and account specialists. The criminals confirm the money request is valid and must be allowed to avoid account limitations.

Step 4) Scammers Pressure Victim to Provide Account Access

Once convinced the request is real, scammers begin extracting the victim’s account access. They instruct the victim to log into their PayPal account on a phishing site, allowing the scammer to steal login credentials.

Or the scammers have victims download remote access software like TeamViewer allegedly to verify account ownership. This really gives the scammers unfettered access to the victim’s computer, email, financial accounts, and personal data.

Step 5) Criminals Steal Funds and Personal Information

With the victim’s PayPal access and remote control of the computer, the criminals can steal money from the PayPal account and linked bank accounts or credit cards. They also often spend time searching for any personal information, financial documents, or passwords stored on the computer to facilitate identity theft.

How to Protect Yourself from This Scam

If you receive a suspicious email about a money request from Berkshire Hathaway, take these steps:

Do not call the number in the email, as it will connect you with scammers, not PayPal.
Check your account by logging into PayPal directly through their website or app. Verify if any transaction or request is actually there.
Forward the scam email to PayPal at phishing@paypal.com so they can investigate it further.
Never provide remote access to your computer or login credentials to anyone over the phone claiming to be from PayPal. Real agents will never ask for this type of account access.
If you did provide scammers access, contact PayPal immediately to secure your account and dispute any fraudulent transactions. You may need to change online account passwords, cancel affected credit cards, and scan your computer for malware.

What To Do If You Already Fell Victim to This Scam

Unfortunately, many victims do not realize they have been scammed until it is too late. If you provided scammers with access to your PayPal account or remote control of your computer, take these steps right away:

Contact PayPal customer service immediately. Report unauthorized account access and transactions. Request they shut down the account to prevent further fraudulent activity.
Dispute any unauthorized charges or money transfers from your account with PayPal and your linked banks. Provide details on how you were scammed. This can help reverse the fraudulent transactions.
Closely monitor your bank accounts and credit cards linked to PayPal for any suspicious transactions. Unauthorized charges may occur if the scammers stole that financial information from your computer files or account access. Contact your bank and card issuers to report fraud and have new cards issued.
Install comprehensive anti-virus software on your computer if you allowed remote access. Run thorough scans to detect and remove any malware, spyware, or backdoors the scammers may have planted to continue accessing your computer.
Change your PayPal password, security questions, and enable 2-factor authentication when you regain account access. Also change passwords on any other online accounts for protection.
Place fraud alerts and monitor your credit reports with Equifax, Experian and TransUnion in case the stolen information is used for identity theft. Renew the alerts every 90 days.
File a complaint with the FBI’s Internet Crime Complaint Center (IC3) and Federal Trade Commission. Provide details of how you were targeted and scammed. This can aid investigations to help bring these criminals to justice.
Educate yourself on the latest online scams to avoid being targeted again. Never fall for pressure tactics over the phone from unknown individuals regarding your financial accounts.

Is Your Device Infected? Check for Malware

If your device is running slowly or acting suspicious, it may be infected with malware. Malwarebytes Anti-Malware Free is a great option for scanning your device and detecting potential malware or viruses. The free version can efficiently check for and remove many common infections.

Malwarebytes can run on Windows, Mac, and Android devices. Depending on which operating system is installed on the device you’re trying to run a Malwarebytes scan, please click on the tab below and follow the displayed steps.

Malwarebytes For WindowsMalwarebytes For MacMalwarebytes For Android

Scan your computer with Malwarebytes for Windows to remove malware

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Download Malwarebytes for Windows

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MALWAREBYTES FOR WINDOWS DOWNLOAD LINK
(The above link will open a new page from where you can download Malwarebytes)
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Run a computer scan with ESET Online Scanner
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Scan your computer with Malwarebytes for Mac to remove malware

Malwarebytes for Mac is an on-demand scanner that can destroy many types of malware that other software tends to miss without costing you absolutely anything. When it comes to cleaning up an infected device, Malwarebytes has always been free, and we recommend it as an essential tool in the fight against malware.

Download Malwarebytes for Mac.

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MALWAREBYTES FOR MAC DOWNLOAD LINK
(The above link will open a new page from where you can download Malwarebytes for Mac)
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Select “Personal Computer” or “Work Computer”.

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Scan your phone with Malwarebytes for Android to remove malware

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(The above link will open a new page from where you can download Malwarebytes for Android)
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If you are still having problems with your phone after completing these instructions, then please follow one of the steps:

Restore your phone to factory settings by going to Settings > General management > Reset > Factory data reset.
Ask for help in our Mobile Malware Removal Help & Support forum.

Frequently Asked Questions about the Berkshire Hathaway PayPal Money Request Scam

1. What is the Berkshire Hathaway PayPal money request scam?

This is a phishing scam where victims receive a fake PayPal email stating Berkshire Hathaway has sent them a $1400 money request. The email instructs victims to call a number to authorize the payment. However, the number leads to scammers pretending to be PayPal support who access the victim’s account credentials.

2. How can I identify the fake Berkshire Hathaway email?

Red flags include:

Sender address does not match PayPal customer service.
Grammatical/spelling errors.
Berkshire Hathaway is not actually sending you money requests.
Case ID is invalid when checked on real PayPal account.

3. What happens when I call the number in the email?

The number connects you to skilled scammers impersonating PayPal billing agents. They will convince you the money request is real and must be authorized to avoid account restrictions. Their real goal is to steal your login credentials or get remote access to your computer.

4. What techniques do the scam call agents use?

The fake agents will:

Pressure you to log into PayPal on a phishing site to steal your username/password.
Request installation of remote access software like TeamViewer to take control of your computer.
Once they have account access, steal money and personal data.

5. Should I ever provide remote computer access to a call agent?

No, real PayPal employees will never ask for remote access to your computer, even for valid reasons like verifying account ownership. Granting remote access simply gives scammers total control to steal your information.

6. What steps can I take to avoid this scam?

If you get an email about a money request, take these steps:

Do not call the number in the email.
Log in to your PayPal account directly to verify any payment requests.
Forward the scam email to PayPal at phishing@paypal.com.
Never provide account credentials or remote access to a caller.
Contact PayPal if you did provide scammers access to secure your account.

7. What should I do if I already fell victim to this scam?

If you gave scammers access to your PayPal account, contact PayPal immediately to lock the account and dispute any unauthorized charges. Also watch for fraudulent charges on linked credit cards or bank accounts. You may need to cancel those cards to prevent additional misuse. Run antivirus software to check your computer for malware, change online account passwords, and monitor your credit reports for any suspicious activity.

The Bottom Line

The Berkshire Hathaway PayPal money request scam shows how far fraudsters will go to impersonate trusted companies like PayPal to steal from victims. But being aware of the scam’s red flags and verifying any payment requests directly within your PayPal account can help protect you. Remember that PayPal will never call you out of the blue demanding immediate payment for a money request. Use caution and do your own verification anytime you get an urgent call or email about your PayPal account funds.

Here are 10 basic security tips to help you avoid malware and protect your device:

To avoid potential dangers on the internet, it's important to follow these 10 basic safety rules. By doing so, you can protect yourself from many of the unpleasant surprises that can arise when using the web.