It is worth remembering that PayPal not only handles payments but also provides a degree of assurance to receive the goods. A pure payment system does not. From a customer perspective this can provide real value as filing a claim with PayPal gets merchants definitely to listen more closely.
A failure of security systems at PayPal is causing concern for German banks
51–60 of 222 posts
Re: A failure of security systems at PayPal is causing concern for German banks
#52PayPal security is amazing. It randomly locks people out of their accounts and randomly closes their accounts too, but actual fraudsters and criminals are never deterred.
> It randomly locks people out of their accounts and randomly closes their accounts too, yup, my paypal got locked after using it for over 20 years. Customer service refused to help and wouldn't even tell me why it was locked. I still get messages from paypal that they "couldn't get process subscription for X." won't delete my data either. Scummy behavior from them on multiple levels.
A few years ago when they suddenly switched on flawed mandatory TFA in my country, it took them nine months before they started to man phone support so people could get in. At about the same time they also implemented a policy to charge for having money left in your balance — when you couldn't access it! Add to that that hey had started with cryptocurrency. I cancelled my account (17 years) as soon as I could.
Re: A failure of security systems at PayPal is causing concern for German banks
#53In this case I think it's justified [0] to offer an alternate reporting: https://www.bbc.com/news/articles/cj6y42jggdyo > European banks have seen widespread unauthorised direct debits from PayPal accounts, the German Savings Banks Association (DSGV) says. > The German newspaper Sueddeutsche Zeitung (SZ) says payments worth in the region of 10 billion euros (£8.6bn) have had to be blocked, after PayPal's fraud-checki…
Yes, I agree. At the time this was the only English link I found. The BBC is much better, and it's a European issue. I cannot edit the link or title.
You can email the mods and ask them to do so. Footer contact link and mention “FP #x” somewhere in the subject.
Re: A failure of security systems at PayPal is causing concern for German banks
#54Earlier quoted context omitted.
I never worked for PayPal, but I did for a competitor. Dealing with fraud is a red queen game: The fraudsters can keep trying until they find what gaps are there in your system, and will sometimes communicate with each other: Part of our defense system involved infiltrating some of those spaces and seeing the guides that were being sold to try to commit fraud in our platform. Meanwhile you will still have a false pos…
My issue with PayPal is they've always been that way. I've come close to deleting my account on 4 separate occasions. I've had one since shortly after their merger from the old X.com https://en.wikipedia.org/wiki/X.com_(bank) . Per discussions on this thread, the singular reason people have tolerated their horrid service over the years they've been an effective monopoly in many locales.
Just delete it. I used to have an account, and my experience using “guest payments” (which are usually, but not always, supported) is generally more reliable than logging in and paying.
Re: A failure of security systems at PayPal is causing concern for German banks
#55Earlier quoted context omitted.
PayPal also appears to suffer data leaks more than anyone else. I use multiple email addresses for every service I sign up for. But of all all the spam email I get, 99% has my PayPal email on it, and I even have other email addresses posted publicly.
Perhaps those are not leaks, but outright data sales
Happened to me with Moneybookers a few years ago. Started getting spam from various casinos at a unique email address. I contacted support and spent a few weeks explaining that, nobody could have gotten this email address unless they were hacked or willingly sold my address. After sending full dumps of the emails and a minor threat to go public with the information, suddenly the spam stopped.
Re: A failure of security systems at PayPal is causing concern for German banks
#56German, well West European, banks are slow in creating a competitor to Paypal, called Wero. https://en.wikipedia.org/wiki/Wero_(payment) I'm not implying they block Paypal because of that. It's good to have more competition and I wished my bank would take part.
Wero looks very much like a bureaucratic paper tiger to me.
I do not know a single person that uses it despite the massive advertising campaign they are running.
What really replaces Paypal in my everyday life is Revolut.
Re: A failure of security systems at PayPal is causing concern for German banks
#57Recently I found out that one of my friends had his identity stolen, thousands and thousands drained from his bank accounts. After thorough investigation it was traced to a PayPal breach, and he had to fight hard to get them to admit it was their fault. He got everything back, eventually, but the whole process was a nightmare.
Re: A failure of security systems at PayPal is causing concern for German banks
#58German, well West European, banks are slow in creating a competitor to Paypal, called Wero. https://en.wikipedia.org/wiki/Wero_(payment) I'm not implying they block Paypal because of that. It's good to have more competition and I wished my bank would take part.
They never really had much of a reason to create a competitor. There where already plenty of alternatives once online shopping/payments became a thing. Here you could do "cash on delivery", credit/debit card, account transfers (yes even across banks, it not as big an issue as US banks makes it) or you could send stamps (not a popular options). There was never a need for PayPal or PayPal style services. These days it'…
> There where already plenty of alternatives once online shopping/payments became a thing.
Let’s say direct bank transfers are not counted. What alternatives are not based on Visa/Mastercard on global scale?
Re: A failure of security systems at PayPal is causing concern for German banks
#59PayPal security is amazing. It randomly locks people out of their accounts and randomly closes their accounts too, but actual fraudsters and criminals are never deterred.
I never worked for PayPal, but I did for a competitor. Dealing with fraud is a red queen game: The fraudsters can keep trying until they find what gaps are there in your system, and will sometimes communicate with each other: Part of our defense system involved infiltrating some of those spaces and seeing the guides that were being sold to try to commit fraud in our platform. Meanwhile you will still have a false pos…
Yeah. I had always thought these AML/KYC stuff were just governments/people in power expanding their arms into normal people's lives. I still think they mostly are, but after learning how much fraud is happening, I'm not sure what a better solution would look like.
Re: A failure of security systems at PayPal is causing concern for German banks
#60PayPal security is amazing. It randomly locks people out of their accounts and randomly closes their accounts too, but actual fraudsters and criminals are never deterred.
Venmos's security is also A++. I made an account, sent some money, then my account was immediately flagged and closed for fraud. Nice.