Protect your PayPal account!

SurfnFish

SurfnFish

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Forum Supporter
Over $3,000 of fraudulent eBay purchases run through PayPal recently hit my CC (get real time phone alerts on all CC charges). Alerted PP who 'took a look' and stated the charges were legit.
Called Mastercard who immediately froze the card, removed the chrges and opened a fraud investigation.
Then notified PP of the opened MC investigation, and requested my account be closed.
PP refused, due to the 'outstanding' eBay charges.
Then the next day, no doubt after having been contacted by MC fraud, PP notified me they had 'changed their mind', now considered the Ebay charges fraudulent and took the hold off my account so I could close it.
It's estimated 65% of CC's have fraud charges of some 45B a year made against them at some point,PP one of the prime pipelines for such..FYI
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Thanks for the heads up.
I was reluctant to get the app for my credit card, but it is reassuring to be immediately notified of transactions, and to have an easy way to report a problem.
 
Wow this hits home, had a 2200 charge a couple years ago make for headaches to remove and clear credit. I limit my usage to one payment app now, and because my family uses ApplePay that’ll be my only one.

Not saying it’s anymore secure but hacks are inevitable. Keeping less info out there is a guarantee to decrease chances.
 
SurfnFish said:
PP one of the prime pipelines for such..FYI
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I would expect it to be since it is probably more widely used than the others. I don't think your problem is with PayPal per se. It appears to me that you have been hacked. Someone has your PP or Ebay login credentials. How did they get them? Where did they get them? When did they get them?

Automatic logins and remembered passwords are nice for things like this forum, but not for financial transactions.
 
_WW_ said:
I would expect it to be since it is probably more widely used than the others. I don't think your problem is with PayPal per se. It appears to me that you have been hacked. Someone has your PP or Ebay login credentials. How did they get them? Where did they get them? When did they get them?

Automatic logins and remembered passwords are nice for things like this forum, but not for financial transactions.
Click to expand...

Wayne, to your point...sheer volume of users and, I would add, the purpose/use of each would be major factors.

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_WW_ said:
I would expect it to be since it is probably more widely used than the others. I don't think your problem is with PayPal per se. It appears to me that you have been hacked. Someone has your PP or Ebay login credentials. How did they get them? Where did they get them? When did they get them?

Automatic logins and remembered passwords are nice for things like this forum, but not for financial transactions.
Click to expand...
regarding passwords - we use two factor authentication whenever possible, as well as use a password manager employing max allowable characters which we routinely change.
regarding PP - per my discussion with the Master card fraud manager, PP performs inadequate investigative resources on fraud, claiming just to be the 'middleman.'

regarding internet hacking - spent the last decade of my career building high security data centers for VeriSign, who runs the top level domain servers for .com and .net, and protect the firewalls of most of the Fortune 500 companies and tens of thousands of online storefronts via SSL certs.
When I built the first Security Operations Center for the company, we were seeing 100 million DNS (Doman Name Search) lookups a day as well as 50,000 firewall attacks a day. When I left the company we were seeing over 5 billion DNS searches a day (curently over 8 billion) and two million firewall attacks daily.
As to our personal security - over a dinner involving a few too many cocktails, our CEO challenged the CIO he could never break through his home VPN security set-up. The next day I watched the CIO do it in twenty minutes.
Whereas we may not be able to stop fraud, we sure as hell want to know when it happens...
 
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DoesItFloat said:
Us two-factor authentication for all the payment apps/websites.
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_WW_ said:
Automatic logins and remembered passwords are nice for things like this forum, but not for financial transactions.
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Both of these, 1000%.

People find passwords/logins annoying, and that's true. They are. But so is locking your house and making sure you didn't leave stuff in your car at the trailhead. But we all do those things because we know we'll eventually get screwed if we don't. It's the same with financial logins.
 
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