Don’t send the money back

A VARIANT of the extremely popular Nigerian 419 scam is possible via Paypal, the INQ has discovered. On paper it looks bulletproof but it’s still a big con.

The 419 scam is named after the relevant section of the Nigerian Criminal Code and the premise is always the same. Somebody offers to pay money into your account and give you a cut when you send it back.

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Tags: 419, Nigerian, PayPal, scams

For those of us that use eBay as a seller or buyer or have followed the recent issues in Australia with PayPal and the ACCC concerning the eBay proposal to mandate the use of PayPal for almost all transactions on the eBay site will find these latest 3 news stories interesting. I’m not surprised by any of these stories and what once seemed like a hip online company appears to be losing its shine in many ways.

The bigger picture is that if consumer confidence in such a big operator like eBay shifts away from buying online, it may spell doom for smaller operators or new businesses trying to enter the online marketplace. I buy many items online from both local and overseas suppliers on a regular basis and I found these companies through referrals from friends and trusted sources who’s opinions i trust.

I personally don’t ever buy big ticket items through eBay and I never just base a purchase on seller feedback. Also check what level of insurance may be available to cover you through PayPal or your chosen credit provider if the purchase goes bad.

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Tags: eBay, PayPal