SECUR> Bidding for Trouble?

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Net Happenings - From Educational CyberPlayGround
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Bidding for Trouble?

EBay, the online auction site, is the world's largest marketplace. At any 
given time on eBay, over 16 million items are up for auction. And with that 
distinction comes one of the problems that face most conventional 
marketplaces - fraud. Failure to deliver goods, identity theft and password 
stealing are the most common scams. The Federal Trade Commission has ranked 
online auction scams as the top fraud complaint on the Internet. To combat 
this "significant" problem, in April federal and state prosecutors 
announced a major crackdown on online auction fraud. EBay's chief fraud 
fighter, Rob Chestnut, himself a former federal prosecutor, admits that 
eBay has had to become tougher on scam artists. In fact, eBay just hired 
the White House's outgoing cyber security czar, Howard Schmidt, to be vice 
president of security. EBay claims that fraudulent transactions represent 
less .01 percent of its total, but that does not include anyone that paid 
by credit card nor those who don't file!
  a claim with eBay.

http://www.washingtonpost.com/wp-dyn/articles/A37863-2003May10.html


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