How Carders Can Use eBay as a Virtual ATM
Summary: Triangulation fraud works by having a fraudster list products on eBay that they do not own, collect payment from the winning bidder into a PayPal account, then buy the same item from another online retailer using stolen credit card data and ship it to the eBay buyer. A victim retailer told KrebsOnSecurity it absorbed more than 40 fraudulent orders over three weeks, and the fraud only stopped after the company blocked purchases originating from Amazon EC2 servers and added hidden checkout fields to catch automated bots.
What you should know: The retailer's losses came from chargebacks after it had already shipped the goods, and the fraud continued until it blocked an entire hosting provider's traffic - a control most merchants would consider too blunt to deploy.
Read the original at Krebs on Security ↗
- Topics
- Fraud & Scams
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