CYTT News
[12/03/2011] Man prosecuted for bidding against himself on eBay
A 39-year old man from Stanley, County Durham, pleaded guilty to ten offences after he used a second account on eBay to bid on his own items. This trick is known as shill bidding, carries a maximum fine of £5,000, and is against the EU trading regulations. The same man not only created a separate account and bid on the items that he was selling, but also left a positive feedback and further mislead any other potential bidders. Officials from eBay have responded that they are using state of the art software to intercept such activities and spend more than £6m annually to combat shill bidding and other illegal activities. While this is a practice, which some believe is used by many and often sellers ask friends to bid on their items in order to push the prices up, prosecuting an offender in court for a first time is likely to discourage similar activities in the future.
Other articles from this category:
[15/02/2011] December freeze costs more than £1 billion
[12/03/2011] Online bank fraud on the increase
[12/03/2011] Security measures compromise confidential financial information
[12/03/2011] Credit and debit card decreases by 17%
[04/04/2011] Misleading valuations from Webuyanycar.com
[23/03/2012] Consumers’ complaints against letting agent rise by 26%
[23/03/2012] Britain’s biggest banks are receiving one complain in very 12 seconds
[23/03/2012] Improvements in ISAs Cash transfer
[03/04/2012] EDF, the energy watchdog, failed to meet the high standard requirements of customers
Comments
There are no comments
Please log in before you add a new comment
Login
Not a member yet? Click here »
Forgot password? Click here »