PayPal no friend to online buyers

Monday July 24 by Claudia bourne
In the past three weeks, dozens of Yahoo! auction customers were cheated of at least $100 each by a scam artist selling computer hard drives. Most had used a third-party payment company named PayPal, which advertises itself as the safe and secure way to make payments in online auctions. So the victims were shocked to learn that PayPal the largest auction payments system, with 2.6 million users offered them none of the built-in consumer protection familiar to credit card users.

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