eBay Fraud (OT)

[Randall R Schulz]

Hi,

This is from the latest Risks digest (22.77--see <news:comp.risks>):

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Date: Fri, 13 Jun 2003 09:14:12 -0400
From: "John Reinke" <reinke@att.net>
Subject: eBay fraud

Police in South Salt Lake, Utah, are working with eBay to determine 
just how many people were victimized by what authorities say was one of 
the biggest frauds in the auction site's history.  Police arrested 
31-year-old Russell Dana Smith last weekend after hundreds of auction 
winners complained that they sent $1,000 or more to a company named 
Liquidation Universe for laptop computers they never received.  Police 
say the firm appears to have raked in $1 million from about 1,000 
victims in just a few weeks.  [...] [Source: Bob Sullivan, MSNBC, Man 
arrested in huge eBay fraud; Buyers criticize auction site's seller 
verification service]
   http://www.msnbc.com/news/925433.asp?0dm=C12LT

[FJR: Guarantees are only as good as the guarantor. There ain't no free 
lunch. When will people take security seriously?]
   [This one is a long and ugly story.  PGN]
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(PGN is Peter G Neumann, the moderator of the Risks Forum.)

Randall Schulz


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