Amazon Hit by Extensive Fraud with Hackers Siphoning Merchant Funds

Re:Amazon Hit by Extensive Fraud with Hackers Siphoning Merc... by vkou on Thursday May 09, 2019 @06:01PM (#19872866)

And the best part is that because they can hold money from sales for months, before remitting it to a merchant, they can loan that money right out to other merchants.

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Re:Amazon Hit by Extensive Fraud with Hackers Siphoning Merc... by ikeboy on Thursday May 09, 2019 @07:20PM (#19873485)

Huh?

In the vast majority of cases money is released within 2 weeks of a sale. The exceptions are if an account gets suspended, or if there's a sudden increase in sales and it's flagged, in which case they might hold it for another week or two.

The only time money is held for over a month is if the account was suspended and not reinstated by then.

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Re:Amazon Hit by Extensive Fraud with Hackers Siphoning Merc... by bootlooped on Friday May 10, 2019 @12:30AM (#19875059)

Some sellers even get settlements weekly or more frequently. I'm not sure how, but I know it was at least possible sometime in the past.

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Re:Amazon Hit by Extensive Fraud with Hackers Siphoning Merc... by epanchin on Friday May 10, 2019 @02:11AM (#19875465)

Two weeks still sounds like a considerable float to lend from.

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Re:Amazon Hit by Extensive Fraud with Hackers Siphoning Merc... by ikeboy on Friday May 10, 2019 @02:16AM (#19875483)

They have a bank backing the loans anyway, it's not their own cash.

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