eBay still #1 - in Internet Fraud : reports by IC3.Gov
Every year The Internet Crime Complaint Center (IC3) a partnership between the Federal Bureau of Investigation (FBI), the National White Collar Crime Center (NW3C), and the Bureau of Justice Assistance (BJA) issues a report on Internet crime.
You guessed it! eBay is #1 leader in internet crime statistics by permitting rampant fraud on it’s site.
Here is a full link to the report
http://www.ic3.gov/media/annualreport/2007_IC3Report.pdf in PDF format.
IC3 agrees with this eBay user, who called eBay : The Worlds Biggest ONLINE Crime Ring and you can see the famous YouTube Video on eBay : The Worlds Biggest ONLINE Crime Ring here
BTW, eBay PR Spin department always maintained that the fraud rate on eBay site is less than 0.1 percent, which is a complete BS. I have finally found a mention on how eBay Spin department calculates this fraud percentage. Here it is, directly from horse’s mouth, as published in this CNN Money Article
“eBay says the loss to the company due to fraud in the first quarter of 2007 amounted to less than 0.1 percent of its revenue - but with net revenue of $1.8 billion, that still leaves plenty of transactions that could have been better protected. Last summer, for example, a Manhattan company that auctioned thousands of pieces of jewelry on eBay agreed to pay $400,000 to settle charges that it inflated prices by bidding in its own auctions.”
Note the KEY WORD: “loss to the company due to fraud” : so this less than one tenth of one percent fraud rate eBay Spinsters tout are losses TO EBAY. How about losses to the eBay customers????????? It’s important to listen when eBay Spinsters serve news media their usual Kool Aid, comparing apples with oranges.