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« By Rhys BlakelyTimes Online - | Main | Chicago's bits and pieces to »

November 23, 2004

BIN Bandit Scam Stings eBay

BIN Bandit Scam Stings eBay Sellers, Site Launches New Policy: "A new scam known as 'BIN Bandit' fraud is causing headaches for eBay sellers. Using eBay's 'Buy It Now' feature (BIN), fraudsters can purchase thousands of dollars worth of items in a short period of time and try to perpetrate a payment scam for the purchases. eBay announced a new policy Monday that may help cut down on the fraud.
Online scams are often a numbers game, only a small percentage of targets need to fall for the scam to pay off. But all of the sellers whose auctions are ended fraudulently must go to the trouble of relisting the items and must file for credits from eBay. The sellers are also out money since eBay only refunds commission fees, not listing fees, for 'Non Paying Bidders.' "
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Posted by darrenmpower at November 23, 2004 11:59 PM
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