Auction fraud is the single largest category of Internet
related complaints in the FTC's Consumer Sentinel database,
which logged more than 51,000 auction complaints in 2002.
Auction fraud is the most prevalent of Internet crimes
associated with Romania. Romanians, long famous in crime
circles for gypsies and conmen, have saturated the Internet
auctions and offer almost every in-demand product. Auction
fraud is the most prevalent of Internet crimes associated with
Romania. The subjects have saturated the Internet auctions and
offer almost every in-demand product.
Online auction buyers can take other steps to protect
themselves. The most important step is this: Never buy from a
seller who sells through private auctions in which people are
prevented from contacting bidders unless you know the seller
and know that there’s good reason for making the auction
private. Online auction sites are immensely popular. The
largest, eBay, reported third quarter revenues of $1.449
billion, up 31 percent from the previous year, and registered
212 million users, up 26 percent.
Escrow services hold your money for a fee, and only when you
receive the merchandise is the money released to the seller.
But first check out sos4auctions.com for a list of the
fraudulent escrow services. Escrow services, which take your
payment and forward it to the seller once you confirm
satisfactory delivery, may be helpful for expensive purchases
that aren?t covered by insurance or bonding.
Paypal also charges a percentage fee on each transaction of
roughly 2.5% at the level of sales that Dweck was attaining, or
more than $125,000 in 2004. Also (I know how this looks, and
sadly, you're thinking along the right track) Paypal takes
their percentage fee on the shipping price too. Paypal, which
is now owned by eBay, advises individuals not to use their
accounts to collect and transfer money for someone else, saying
it is often a form of money laundering.
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