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PayPal Ain't YourPal!

Apparently, PayPal is a thief's pal, at least in my case. Without going into gross detail, someone was able to make use of the one-time code that is sent after a lost password request has been submitted. So, this person was somehow able to receive this code on their device, enter my account, add a prepaid credit card and withdraw a fair amount of money from my account, enough for a Caribbean vacation for two.


Do you think that PayPal reimbursed me for any or all of those funds? No! The local Chilean PDI cybercrime division was not of any help either. So sadly, I took a loss that no one would cover for me, and must now be vigilant for any one-time code requests or even changes of password. Fortunately, I am awake when money comes in, and I spirit it away to my bank account-as fast as my fingers can make it happen.

Whose fault is it?

You know the saying: Fool me once, shame on you; fool me twice, shame on me. In the end, though, I find PayPal at fault, because they have that gaping loophole of the one-time entry code in case the user has forgotten their password. As long as that is in place, there will always be a giant risk of losing your money, of giving it away to someone entirely undeserving of it.

So, I hope you weigh the risks of doing business with PayPal, and consider dealing with your local bank instead.

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