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eBay's CEO says 'fraud shouldn't be an issue' for any customers anymore

"Really nobody on eBay anymore is subjected to fraud.”

Asa Mathat
Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.

Run into a scam while trying to buy or sell on eBay recently? You're in the tiny minority, according to eBay CEO Devin Wenig.

“There are two things that eBay has done in the last 10 years that have taken fraud to a meaningless number," Wenig told Lauren Goode of The Verge in an interview following his onstage appearance at the Code Conference on Thursday morning. "Really nobody on eBay anymore is subjected to fraud."

One is the combination of computer technology and employees who comb the site for tell-tale signs of fraudulent products. The other is the company's five-year-old Money Back Guarantee program, which refunds buyers when they run into problems with a purchase.

Noting that eBay's fraud rate was at a "historic low," Wenig added, "At this point, fraud shouldn't be an issue for anyone that buys or sells on eBay."

The fraud discussion starts around the 2:35 mark on the video embedded at the top of this post. Stay for the part where Wenig talks about his ridiculously early morning routine.

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