Is "Electronic Withdrawal PwP / Paramount R - Privacyc" fraud?

Written by Lily Tran

June 18th, 2024

Medium Risk

What is "Electronic Withdrawal PwP / Paramount R - Privacyc"?

Paramount has been in business since 1912. The company operates primarily in the media and entertainment industry. Paramount provides a range of products, including motion pictures, television programs, and streaming services. Its portfolio includes a variety of genres such as action, drama, comedy, and animated content. Paramount also engages in the distribution of home entertainment products and operates several television networks and interactive media platforms.

Electronic Withdrawal: Type of transaction indicating a withdrawal from the account

PwP: Commonly used shorthand in banking but needs context, often "Pay with Points" or a similar program

Paramount R: Likely the merchant or service provider associated with the transaction

Privacycom: Indicates the use of the Privacy.com service for secure transactions

Verify if this transaction is fraud in 30 seconds

Verify With Receipt

The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for.

Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn't match.

STEP 1

Connect your Email

Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.

STEP 2

Connect Your Bank

Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.

STEP 3

Reconcile

Reconcile the charges reported by your financial institution against what you've recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.