Police cuff 70 eBay fraud suspects
Scams caused €800,000 losses
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Romanian police have arrested 70 suspected cybercrooks, thought to be members of three gangs which allegedly used compromised eBay accounts to run scams.
The alleged fraudsters obtained login credentials using phishing scams before using these trusted profiles to tout auctions for non-existent luxury goods (luxury cars, Rolex watches and even a recreational aircraft). Buyers handed over the loot but never received any goods in return.
The 800 victims of the scam are estimated to have suffered €800,000 in losses since 2006. Victims were located across Western Europe, Scandinavia, the US, Canada and New Zealand.
Complaints from the victims led to a joint FBI and Romanian Directorate for Investigating Organised Crime and Terrorism (DIICOT) investigation culminating in the execution of 101 search warrants and multiple arrests across Romania on Tuesday.
A police video of one of the raids can be found here. More on the background to the case can be found on Gary Warner's CyberCrime & Doing Time blog here.
A Romanian police statement on the bust, part of Operation Valley of the Kings, can be found here (in Romanian). ®
COMMENTS
eBay is a dead duck...
A decade ago, I was a regular on eBay, both buying and selling. But after years of them (and PayPal) moving the goalposts to their own advantage at every opportunity, I gave up both buying and selling. Among so many of the people I used to deal with regularly, I get the same story - usage down from daily to once in a blue moon - in my case, never.
IMHO both buying and selling are now so risky they're not worth the candle. Selling - especially smaller items - leaves so little profit after eBay and PayPal have had their fingers in the pie it's a joke. Whatever their claims, eBay is an auction house and PayPal are a bank - and it's time they were both regulated far more rigorously.
eBay have clearly never read the story of the Goose with the Golden Eggs.
Hmmm. must of rippped off somebody important....
When I got ripped off for £25.00 eBay/PayPal and the local Plod were no help at all.
I could have been a relatively easy bust as well, I have the guys address and his signature to say he had received the item but no refund issued! and then left a snippy reply to my negaitive feedback
I guess others people money is worth more than mine.
eBay isn't fun anymore.
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