The online money game !

old4570

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Lots of sellers play this game :
And the more money you spend online , the more likely you are to come across the money game .
In a pinch I guess the money game is fraud or outright theft .
Players can be found on Ebay - Ali etc ... Anywhere that hosts a lot of sellers under a umbrella corporation like Ebay .

Ebay is bad because when a transaction is closed , its closed .
ALi on the other hand gives you 15 days after the transaction is closed to make a claim . ( This is good )

Anyways !

The money game :
Lets say a seller has a balance of 100,000 in the bank for goods sold at any one time ..
They sell goods , money comes in
People ask for refunds , money goes out .. But a smart crook is able to maintain a steady bank balance that earns interest .
AN even shiftier crook will have everything under an alias that can't be traced back to their true self ... This individual can pull the pin at any time and scarper with their ill gotten loot .
This is the money game ( As I call it ) , or fraud .
I have come across this on Ebay ..
And recently I have started shopping on Ali and I have come across two players .
Thanks to Ali's generous (?) time limits for resolution / complaints / refund requests .. I haven't been burned by these players ..

In a pinch , the game is simple !
Take money for goods advertised that you have no intention of sending out .
People have a certain amount of time to request resolution , if they do so , you simply return their money and make some stupid excuse .
Those people who forget or are too slow , lose their money and the crook makes money for nothing .
SO if you sold 100,000 of non existing product , had the money sitting in your bank account earning interest , and were able to maintain such for any length of time ( It's money for nothing )
And if 10% of punters are too slow to request a refund , you earned once more for nothing .
This is the game some online sellers ( crooks ) play .
And not only are you but so are they ( the crooks ) protected by the umbrella corp and the rules and regs you agreed to to play on these sites .

So if you see anything suspicious with your purchase , dont hesitate to request a refund .
Especially if your purchase was supposed to have tracking and nothing shows up as being trackable .
I post this as I was supposed to be getting a new guided knife sharpener VIA Ali , but alas , looks like the seller was BS .
And the refund was almost instant ( few hours after the request ) .
I like Ali and the endless amount of product ...

Now having posted this , I must say that some retailers are just fantastic ...
So very much , buyer beware !
 
Interest in money in a bank is FAR less that inflation - 67% CPI increase in the U.S. in the last two years according to the U.S. Bureau of Labor Statistics , and the CPI excludes housing, food and energy. My wife is getting .05 of 1% on $60,000 in a money market account. Some U.S. banks are paying 0%, common in Japan. The banks loan it out at 18% The Money Game for sure.
 
If I understand this correctly, the illicit money made (stolen) is for unsent product that is not disputed within the timeframe allotted. If that is 10% of the purchasers who lose out
because they didn't dispute the transaction, he would be ahead that amount less his expenses.
 
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