posted on November 11, 2000 06:43:51 AM new
Monitoring yet another individual who just happens to have a "verified seller" PayPal account who listed desktop and notebook computers, printers, digital cameras, and large-screen projection television sets on Yahoo!Auctions, primarily between October 24 and October 27.
This individual now has a feedback rating of -26 and from the comments it seems that bidders have been defrauded of some $125,000. Keep in mind you are not likely to see messages here at AutionWatch describing this incident; what you do see here on these message boards are only a few of the many PayPal account-holding buyers who have been defrauded by PayPal account-holding sellers (verified and otherwise) through a flawed online payment service.
PayPal has finally taken action on the account, "This recipient is currently unable to receive money".
But the question, what will PayPal's position be when these "VERIFIED sellers" have PayPal debit cards and clean out their accounts before PayPal's even realizes what's going on? Particularly since buyer protection guarantees are now essentially non-existent?
[ edited by dimview on Nov 11, 2000 06:46 AM ]
[ edited by dimview on Nov 11, 2000 07:12 AM ]
[ edited by dimview on Nov 11, 2000 07:38 AM ]
