Consider an online auction site named eBay. With 200 million registered users (an inflated number of course), how easy would it be for an organized effort to siphon millions of dollars from our country in a matter of moments? I dare say folks, the ground work is being laid right as I type this.
Ebay's Paypal division just recently issued invitation to it's account holders to open a multi user portal... ON PAYPAL'S END. If you can't see that as a financial holocaust in the making, well, then you'd better spend a moment of your time considering the realities of it. Most every account holder using Paypal has an alternate source of funds option activated. What this does is allows Paypal's account system to enter your chosen bank account to withdraw funds for payment just in case your Paypal account is too low to pay for your purchase. Couple that with the possible alternate funding options that you have selected for your bank to exercise and you have a pathway into your entire account system.
The many unsuspecting individuals who innocently adopt or unwittingly have otherwise activated that multiuser portal with Paypal have much to be concerned about. How easy will it be for a fake account proxy to be initiated? Too easy I'll hazard to say. I know a setup when I see one. I've schooled long and hard on the concepts of fraud. The Paypal account system is being prepared for mass withdrawls.
God I hope I'm wrong.
Will somebody PLEASE have the DOJ look into this?
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CAPP Consumers Against PayPal Policies - Exposing the sleazery of sleazebay and painpal