Amazon Hit By Extensive Fraud With Hackers Siphoning Merchant Funds (mercurynews.com) 32
Amazon.com was hit by an "extensive" fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year. schwit1 shares a report: Amazon believes it was the victim of a "serious" online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales into their own bank accounts, according to a U.K. legal document. The hack took place between May and October 2018, Amazon's lawyers said in a redacted filing from November that can now be made public. Amazon said it was still investigating the compromised accounts and believed that hackers managed to change details of accounts on the Seller Central platform to their own at Barclays and Prepay Technologies, which is partly owned by Mastercard, according to the filing. The case highlights how the world's biggest online retail platform -- designed to be automated with minimal human input -- can be misused and how difficult it is for Amazon to find perpetrators. Lawyers for Amazon asked a London judge to approve searches of account statements at Barclays and Prepay, which "have become innocently mixed up in the wrongdoing," it said.
Wait, who is the victim? (Score:5, Insightful)
Amazon is not the victim, the merchants who lost money are.
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Amazon also wasn't "hacked". Some people gave away their credentials and then their valid credentials were used to login to Amazon.
They should be more careful with their credentials and Amazon should help by providing better authentication options.
Re:A Definite Problem (Score:4)
You'll probably win some kind of prize for having so many mistakes in a single post.
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One of my flavor it's.
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You'll probably win some kind of prize for having so many mistakes in a single post.
You'll probably win some kind of prize for not recognizing such deliberate satire. :)
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Not everyone hangs on reddit
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Not everyone hangs on reddit
You're right. For example, I don't.
I think what you meant was "Not everyone recognizes satire."
FTFY (Score:2)
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If you were the typical AC it would have been:
I wholeheartedly agree, but allow me to play devil's advocate here four a moment. Four all intents and purposes I think you are wrong. In an age where false morals are a dime-a-dozen, true virgins are a blessing in disguise. Wee often put our false morality on a pedestal like a bunch of prima donnas, but you all seem to be taking something very valuable four granted. Sew I ask of you to muster up all the strength you can because it is a dong-eat-dong world out there. Although there is sum merit to what you are saying, it seems like you have a huge chip on you're shoulder. In you're argument you seem to throw everything in but the kitchen sink, and even though you are having a field day with this, I am here to bring you back into reelity. I have a sixth sense when it comes to these types of things. It is almost spooky, because I cannot turn a blind bye to these glaring flaws in you're rhetoric. I have zero tolerance when it comes to people spouting out hate in the name of moral righteousness. You just need to remember what goes around comes around, and when supply and demand fails you will be the first to go. Mark my words, when you get down to brass tacks it doesn't shake rocket scientist to get two birds with won stone. It's clear who wears the pants in this relationship, and sometimes you just have to swallow you're pride and accept the facts. You might have to come to this conclusion through trial and error but I swear on my mother's maiden name that when you put the pedal to the metal you will pass with flying colors like it's a piece of cake.
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Glorious, man. If ever shitposting deserved to be modded up, this is the post!
LOL (Score:2)
That's awesome, I'm going to print that out and frame it.
It's almost as much fun reading the replies of the people who didn't get it. :)
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That's how "the market" is supposed to work, but when a single business has over 50% of the sales, rules change and "free market" becomes wishful thinking.
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Amazon has a single-digit percentage of the retail market. Walmart is bigger. What was your point again?
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There's no such thing as "the retail market" vs "online market" anymore, especially when Amazon can offer free shipping on most of the items it sells.
For all sales combined, Amazon is far from having a single-digit percentage of all the market.
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The retail market includes online retail sales. Amazon is about 7% of consumer retail spending. Walmart is about 9%. Amazon continues to grow, though, while Walmart has been flat for some time.
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Isn't that's what is happening. Amazon tries to fight the fraud, news outlets publicise it...
Over the last year or two I've been seeing a lot of hacked merchant accounts on Amazon. The often tie up with CamelCamelCamel to offer you the product you want at the price you want, usually listed as "ex display, perfect condition" or similar. Of course it's a scam, you never get the item.
Wait, what? (Score:3)
Out of all the Amazon seller accounts, only 100 got hacked???
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sure its only 100 accounts now, but does it SCALE ?!?
Authentication (Score:3)