Online Sellers: Beware of Fake Check Scams

Brian Krebs

If you sell enough stuff online at sites like Craigslist and eBay, eventually you will receive an offer for your wares that far exceeds your asking price. Such offers are often the first stage of a scam in which the fraudster sends a counterfeit check along with some elaborate explanation for offering such a high amount. The scam artist then asks the seller to wire back the difference after the check is deposited.

It should surprise no one that the checks always bounce, leaving anyone who falls for the scam liable to their bank for the entire amount. This is not a new scam, but I had never seen one of these fake checks in person until my colleague here at washingtonpost.com - Dan - recently received one of these fairly official-looking checks after advertising an $300 bike frame for sale on Craigslist.com. The outer envelope was hand addressed with a postmark from somewhere in Michigan.

source and complete article at: washingtonpost.com

EBay's PayPal rule in Australia draws fire

SAN JOSE, Calif. (AP) -- EBay Inc. is exploring whether to require customers to use its online payment service PayPal, a move that has angered users and prompted antitrust scrutiny in Australia, where a PayPal-only rule takes effect next month.

It's unclear whether eBay will institute a similar policy in the United States and other countries. However, the online auction company often tries big changes in smaller markets before expanding them worldwide, and says it is open to that in this case.

"We are going to take learnings from it and apply them accordingly," said eBay spokesman Usher Lieberman

source: Yahoo Finance