Was there a loophole in the Paypal policy? If it is still there,beware!

We received this report but are unable to authenticate at the moment as we are busy. For your information please. As promised, reporters identity are withheld.

=====Attached=====
You can verify all of this with the press articles, blogs and posts on rip off website.  The community activist in Singapore who helped co-ordinate the mass refunds can be contacted at anph@rvmediaworld.com  Her name is Ann Phua
 
I hope you warn the Australian Community about this Pyramid/Ponzi Scheme.

Have you ever received an unsolicited email, from a stranger, saying nothing except to reply and receive some "lucrative business proposal".

I wouldn't try it.

---------- Forwarded message ----------
From: d ahmed <d.ahmed@indiatimes.com>
Date: Fri, 12 Oct 2007 19:12:42 +0530 (IST)
Subject: BUSINESS PROPOSAL
FOR YOUR KIND ATTENTION:

Please I am writing to solicit your cooperation in a very lucrative
 business proposal. If you are interested, please do contact me for
 more
 details by my direct contact email:ahdsaeed_needa@yahoo.com.hk.

I am awaiting your indication of interest.

Sincerely

Saeed Ahmed.

A scammer uses the name of Chinavasion, a legal company based in China, to conduct scams.

How the scam works:
1) Scammer sends you checks.
2) You will deduct 10% from the check amount as your commission.
3) Then you remit CASH to his other account.

What happens is that the check that would be sent to you will be fakes. And if you send him CASH thinking that the check will be cleared, that is a big mistake.

In case you missed this news report, please watch this video regarding investment scams, mostly targeted at senior citizens. The report quoted that senior citizens are usually targeted because "they may not actually know as much about investing as they think they know". They are overly confident.

This is a variation of "419 Scam" dealing with commodities. You will lose your money before seeing anything being delivered over. Such an offer on email is never to be trusted.

-----Attached-----
From: john abel [mailto:gold_investors@hotmail.com]
Sent: Friday, August 10
Subject: WE HAVE GOLD DUST FOR SALE

Dear Sir/Madam,
                           
 WE HAVE GOLD DUST FOR SALE

We are so glads to write you this time to introduce our company to you
we are a small skill mining company which we base in Accra (GHANA)we
have a total of eight hundreds kilos (800 kilos) of GOLD DUST in our
storage please if you are intersted kindly inform us immediatly so that we can
send our FCO to you .
Thanks and God bless you ,
Best Regards
Mr john abel

We believe that this is a 419-type scam that is targeted at building contractors.

Didan has US$745 million payable to contractors, but he would like to transfer US$475 million from phase 1 into your bank account.

And what is in it for you?
Ans: You will get to keep 40% of the US$475 million.

And why did they pick you?
Ans: Because you are their source of the US$475 million. (In short, they are going to scam your money)

One of our submitters received a mail which he reported as a scam. Apparently, we assumed that the scammer has intercepted a particular transaction and attempting to scam some money out from the seller.

1) Buyer pays Seller, the cost of goods + pickup.
2) Scammer appears, saying that he is picking up the goods.
3) Scammer ask Seller to pay him the "pickup" amount which Buyer has paid to the Seller (in para 1) together with the cost of the goods.

In the early days of the internet, most people are not familiar with domain name registration, web hosting services, etc. Most of us would engage someone who is familiar with all these so that they can do all the work for us.

Is this a good idea or bad idea?