PayPal Probed for Anti-Fraud Efforts - GoFuckYourself.com

foolio · 03-10-2004, 02:04 PM

taken from here
http://story.news.yahoo.com/news?tmp...ay_paypal_dc_3

PayPal Probed for Anti-Fraud Efforts

WASHINGTON (Reuters) - Federal and state investigators are examining whether online payment service PayPal violated consumer-protection laws in its fight against online fraud, parent company eBay Inc. said on Monday.

PayPal sometimes freezes customer accounts while it investigates suspicious transactions, a practice that has generated complaints to consumer-protection authorities, the online auctioneer said in its annual report.

"As a result of customer complaints, PayPal has ... received inquiries regarding its restriction and disclosure practices from the Federal Trade Commission and the attorneys general of a number of states," the report said.

"If PayPal's processes are found to violate federal or state law on consumer protection and unfair business practices, it could be subject to an enforcement action or fines."

An FTC spokeswoman declined initial comment.

PayPal handled more than $12.2 billion in transactions in 2003 and has 40 million customer accounts, according to the annual report.

The rate of fraudulent PayPal transactions is less than one-half of one percent, eBay has said.

An eBay spokesman was not immediately available for comment.

jasonir · 03-10-2004, 02:04 PM

'Bout fucking time.

WebTitan · 03-10-2004, 02:12 PM

Quote:

Originally posted by jasonir
'Bout fucking time.

roscoe98 · 03-10-2004, 02:14 PM

Now if they could get all the AVS programs like ADULT CHECK !!

Ic3m4nZ · 03-10-2004, 02:15 PM

Those fuckers gotta pay big fines

bopha · 03-10-2004, 02:30 PM

Halle- freaking- lujah

03-10-2004, 02:04 PM	#1
foolio ICQ: 178725656 Join Date: Nov 2002 Location: Sunny San Diego Posts: 12,366	PayPal Probed for Anti-Fraud Efforts taken from here http://story.news.yahoo.com/news?tmp...ay_paypal_dc_3 PayPal Probed for Anti-Fraud Efforts WASHINGTON (Reuters) - Federal and state investigators are examining whether online payment service PayPal violated consumer-protection laws in its fight against online fraud, parent company eBay Inc. said on Monday. PayPal sometimes freezes customer accounts while it investigates suspicious transactions, a practice that has generated complaints to consumer-protection authorities, the online auctioneer said in its annual report. "As a result of customer complaints, PayPal has ... received inquiries regarding its restriction and disclosure practices from the Federal Trade Commission and the attorneys general of a number of states," the report said. "If PayPal's processes are found to violate federal or state law on consumer protection and unfair business practices, it could be subject to an enforcement action or fines." An FTC spokeswoman declined initial comment. PayPal handled more than $12.2 billion in transactions in 2003 and has 40 million customer accounts, according to the annual report. The rate of fraudulent PayPal transactions is less than one-half of one percent, eBay has said. An eBay spokesman was not immediately available for comment. __________________

03-10-2004, 02:04 PM	#2
jasonir Confirmed User Join Date: Aug 2002 Location: Toro'no Posts: 1,887	'Bout fucking time. __________________ ICQ: 61689996

03-10-2004, 02:14 PM	#4
roscoe98 Confirmed User Join Date: Sep 2003 Posts: 689	Now if they could get all the AVS programs like ADULT CHECK !! __________________ $500.00 a MONTH BONUS CASH! HOSTED GALLERIES! EXCLUSIVE CONTENT! 80% PAYOUT DAYS!

03-10-2004, 02:15 PM	#5
Ic3m4nZ Confirmed User Join Date: Aug 2003 Location: Montreal! Posts: 6,285	Those fuckers gotta pay big fines

03-10-2004, 02:30 PM	#6
bopha Confirmed User Join Date: Sep 2002 Posts: 1,882	Halle- freaking- lujah