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Subject:	Re: $7000+ PayPal Warning
Newsgroups:	lugnet.market.services, lugnet.market.buy-sell-trade
Date:	Tue, 3 Jun 2003 17:34:22 GMT
Viewed:	3691 times

In lugnet.market.services, Chris Phillips wrote: > My guess as to what happened here is something like this: the Buyer on > that transaction most likely stole someone's credit card number and/or > identity, set up a PayPal account under false pretenses, bought a bunch > of stuff, and then took off when the fraudulent credit card charges were > noticed by the victim. Even the fact that the buyer left positive feedback > is not uncommon in fraud cases; the criminal usually does everything > possible to appear to be legitimate for as long as possible. > > Sure, PayPal {should} bear more responsibility to protect you from > counterfeit "verified" buyers, but they had a team of lawyers draft > their user agreement, and you sat there squinting at fifteen pages > of fine print... I think it is VERY likely that is what happened to the seller in this case - I'll post a confirmation if and when I get it. The main issue then becomes accepting PayPal (or other services?) payment by credit card. If a criminal uses a stolen VISA card to buy a computer from a store, VISA takes the loss (and passes it on to its other cardholders). If a criminal uses a stolen VISA card to buy LEGO from my Bricklink store, VISA should likewise cover it. How is it that PayPal can just appropriate the funds? Aren't they a merchant to VISA? If VISA is stuck covering the fraudulent purchase - which is what will happen if policies are applied uniformly - then PayPal is stealing from the seller's account, which is exactly what he's saying. If PayPal has worked out some special deal with the credit card companies where they don't cover purchases with stolen cards then why are the CC merchant fees being passed on??? Accepting CC funded payment by PayPal is than an invitation for theft! SRC LUGNet#765 http://capt-acap.org/SRC/

Message has 2 Replies:

		Re: $7000+ PayPal Warning
(...) Where did you get that info from? If a charge is reversed the money is taken from the seller and returned to the buyer. What you are claiming is exactly what I pointed out as an easy way to fraud and double your money. It just does not work (...) (21 years ago, 3-Jun-03, to lugnet.market.services)

		Re: $7000+ PayPal Warning
(...) I believe, but am not sure, that Paypal is more like a processor than a merchant. Or if not, they are somehow closely connected to a processor or bank. I carry a Paypal branded MasterCard debit card. Paypal rebates 1.5 % of all spending (when (...) (21 years ago, 5-Jun-03, to lugnet.market.services, lugnet.market.buy-sell-trade)

Message is in Reply To:

		Re: $7000+ PayPal Warning
(...) My guess as to what happened here is something like this: the Buyer on that transaction most likely stole someone's credit card number and/or identity, set up a PayPal account under false pretenses, bought a bunch of stuff, and then took off (...) (21 years ago, 3-Jun-03, to lugnet.market.services, lugnet.market.buy-sell-trade, FTX)

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