Once the seller files the fraud claim (or chargeback) with their financial institution and eBay is notified of the claim, eBay will probably place a hold on the seller’s account for unpaid fees. While sellers may enjoy the same protection from their financial institution for fraudulent charges, just filing a fraud claim with the bank or credit card company without contacting eBay may not make the problem go away. Unless the hackers are nice (doubtful) and pay the Final Value Fees (FVF), eBay will eventually charge the FVF to the seller’s payment method. eBay doesn’t really need to be involved as they do not incur a loss on the buyer’s side but they may still want to report the scam to the eBay Fraud Department so that they can take the appropriate action on the seller’s account.įor sellers that may get caught up in this scam, it’s a bit more complicated. Fortunately, most financial institutions will credit the money back once the scammed buyer claims they do not recognize the charges. How the hacked buyer becomes the victim here is pretty easy to see as the funds come out of their financial accounts still connected to PayPal. This is typically either a bank account, debit card, or credit card from the hacked buyer. If the hacked buyer’s PayPal account has a zero balance, PayPal will fund the purchase from the backup payment method many users link to when they originally signed up with PayPal.PayPal pays the hacked buyer from the hacked seller’s PayPal account. Next, the hacker uses a hacked eBay buyer account that still has a connection to an active PayPal account to make purchases from the items listed by the hacked seller account.A hacker uses a hacked eBay seller account that has not migrated to eBay Managed Payments to list items and allows them to use a hacked PayPal account to accept payments.In a nutshell, here is how the scam works: And that is highly unlikely unless they are really stupid. If the hacked seller account had transitioned to eBay Managed Payments, eBay would know the identity of the hacker(s) as the only method for them to turn the scam into cash would be to transfer the funds to a verified bank account. With PayPal, it is easy to transfer funds quickly between accounts. Our explanation of this scam goes further than her reporting because we believe for this scam to work, the hacker has to have access to a hacked seller account that still accepts payments via PayPal. Could your online business use capital for growth? Here is a primer on revenue-based loans, and how they work.Learn how you can save time writing engaging content faster with AI. Boost your social media engagement with Publer.Do you need a business bank account for your online business? Take a look at our review of the five best bank accounts for sellers, some of which are free with no minimum balance or deposits.Investigative reporter Deanna Dewberry from WHEC-TV, a Rochester, New York NBC affiliated local television station, reported on a scam last week involving hacked eBay accounts that not only hurt buyers but also could affect sellers.
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