|Mon Apr 10 2017 15:24:49|
Amazon Fraud Targets Sellers, Beware
By: Ina Steiner
We have been reporting on a wave of fraud that hit Amazon in March that targets buyers, and the Wall Street Journal
followed up today with additional troubling news: "attackers have changed the bank-deposit information on Amazon accounts of active sellers to steal tens of thousands of dollars from each," it wrote.
In the attacks we documented in this blog post
and in an in-depth report in the 411 newsletter, fraudsters were posing as sellers using mostly "just launched" selling accounts to defraud buyers. We also noted that some sellers were seeing an uptick in dormant accounts being hijacked as part of the same scam.
According to the Wall Street Journal, the damage to hijacked accounts doesn't stop there - the scammers are siphoning off Amazon disbursements from active seller accounts.
"The fraud stems largely from email and password credentials stolen from previously hacked accounts and then sold on what's dubbed the "dark web," a network of anonymous internet servers where hackers communicate and trade illicit information. Such hacks previously have favored sites such as PayPal Inc. and eBay Inc., but Amazon recently has become a target of choice, according to cybersecurity experts."
Sellers whose deposits were siphoned off by hijackers are wondering if Amazon will reimburse them. Sellers need to pay suppliers, shipping carriers, employees, and other bills, and the cashflow consequences are sure to be devastating for those impacted.
We have questions in to Amazon.