Thought and Freedom

Articles for those who think. By Terry Pearson

The biggest scam on the internet

with 2 comments

You may not realize it but you are potentially a customer to one of the biggest scams on the internet. It is a money laundering scam in which a company agrees to be an intermediary between buyers and sellers.

This company creates links to your bank accounts and credit cards, and then funnels money between your accounts and others. This is usually done when you request it, but sometimes it is done at other times.

This is where the scam comes in. The company places information in their fine print which gives them sole discretion on how to deal with your complaints about fraudulent money transfers.

Many times, their solution is to ‘freeze’ your account with all the money in that you have placed in their online accounts placed in limbo. They are then free to gain interest on this money without having to worry about you withdrawing the money any time soon.

Furthermore, this scam company fails to post customer service numbers, and only allows contact through email forms on their website. This decreases your ability to ‘C.C’ the email to someone else (like a lawyer or B.B.B representative). It allows the company to also severely limit your communication with them and avoid addressing the real issues.

Finally, if you with to cancel your account, you will be routed through endless to do lists, only to be routed back around. Essentially, they will promise to cancel your account, but never really do so, leaving links to your financial accounts open to be exploited at a later date.

You may wonder which site I am talking about. It is called Paypal.

After an unauthorized user gaining access to my account, I have experienced many of these problems with Paypal. Rather than fixing the problem, they claim it is already repaired (even though me account is stuck in limited access).

For more information about the many customer complaints and the legally questionable activities that paypal has sponsored, visit http://www.paypalsucks.com/.

Paypal

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Written by Terry Pearson

July 18th, 2007 at 9:43 pm

Posted in Internet

2 Responses to 'The biggest scam on the internet'

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  1. Wow, I’ve never heard of such evil practices coming out of Paypal, especially since they are an ebay company, but I will have to look into this further. Your description was definitely compelling.

    Like or Dislike: Thumb up 0 Thumb down 0

    UPC Tech Blog

    24 Jul 07 at 11:01

  2. On the bright side, Paypal did restore my account a couple days ago. No apologies or anything, but at least it is no longer in Ebay Limbo! Not bad, it only took them eight months to restore my account after they allowed someone to illegally make charges on my account.

    Well, I am just happy it is finally resolved.

    Like or Dislike: Thumb up 0 Thumb down 0

    Terry Pearson

    4 Aug 07 at 23:28

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