Fraud Potential - PSA

[Rick Iverson]

Gents;

I placed an add elsewhere for an item on another racing forum. Perhaps a year later, I received a response form the seller indicating the parts were still available, and the I should contact him off line. The negotiated price was in the four digits, and I accepted his offer.

I sent the money for ‘goods and services’, although he stipulated ‘friends and relatives’. Further, I included PayPal fees so he would not receive less than what he was asking. PayPal holds the ‘goods and services’ monies in escrow for large ticket purchases until a tracking number is provided. It is called the buyer protection plan.

We went back and forth at least a dozen times: the immovable object and the irresistible force. I offered to fly out to the Left Coast, with cash, and transact at the County Sheriff’s office if he was concerned for his personal safety. But that was unreasonable, and he demanded ONLY “friends and services. I filed a dispute with PayPal, and I will have my funds returned on 16 Nov 23.

Although I have done several dozens of ‘friends and relatives’ transaction on Apex for obvious reasons, we are family. But DO NOT send to those you are not familiar with. Just say’in.

[Richard Hybels]

Great advice thanks

[BeerBudgetRacing]

Well, one of the issues, especially with a large sum, is the tax reporting for "goods and services".
I believe paypal will issue a 1099K (merchant payments) and report it to the IRS as they would be required to.

So, the insistence may not be for fraudulent intent, but rather not desiring to have to report the exchange as income.

[pacratt]

Even on a big server like eBay, I've had items never arrive (twice) only to find the seller had closed their account right after receiving my payment. Both sellers were from S.E. Asia. In those cases, eBay intervened and I received full refunds... but only because I filed a case before the deadline window closed.

Well, one of the issues, especially with a large sum, is the tax reporting for "goods and services". I believe paypal will issue a 1099K (merchant payments) and report it to the IRS as they would be required to.
So, the insistence may not be for fraudulent intent, but rather not desiring to have to report the exchange as income.

Yep. ALL online seller sites must now treat all sellers as "for-profit businesses" by law and issue 1099-k's...the reason I stopped selling on eBay...having to claim gains/losses on miscellaneous garage-sale junk was ridiculous.
But I will agree that the original story here DOES look a bit shady.

Glenn

[TimH]

With anyone who's been on ApexSpeed more than a year I've used personal checks with no problem. Anyone else....

[Jerry Kehoe]

Too many offers to purchase from ads include offers to send checks first then supposedly after the funds clear they will "arrange" shipping from their "private" shipper. All you have to do is check into how canceling checks, etc works well after the transaction is supposedly done ends up with a loss! Buyer and Seller beware!

[Rick Iverson]

Paul:

I offered to fly to SOCAL, and pay with cash, thus eliminating any Imperial entanglements. The alleged seller absolutely would not remotely consider that as an option.

It comes down to this: trust is a hard thing to find in today’s world. I may be singularly lucky in that I trust in me, my wife in Deanie, and the Lord my God, Jesus Christ.

And of course, my Apex family, that I have been acquainted with for nearly a quarter century.

Well, one of the issues, especially with a large sum, is the tax reporting for "goods and services".
I believe paypal will issue a 1099K (merchant payments) and report it to the IRS as they would be required to.

So, the insistence may not be for fraudulent intent, but rather not desiring to have to report the exchange as income.

[E1pix]

With anyone who's been on ApexSpeed more than a year I've used personal checks with no problem. Anyone else....

Yes Tim, on three of the four items we’ve bought to date, three sellers.
— HANS device
— Nomex underwear
— Durometer set

The fourth was a Vee, and the only (mega-) problem seller of the four members we bought stuff from here.