Venditor Emptor

Lex Sheehan
Oct 22, 2018 · 8 min read

How to Lose Money Using PayPal

The Scammers’ Angle

The Check Scam

Here’s how they do it:

Where The Money Goes

The Cost of the Middleman

Bankers do it for a fee.
Bankers do it risk-free.
Bankers do it with glee.

The Real Cost

Our Banking System Enables Scammers

Dolor Emptor

Craigslist — Will accept Cryptocurrency!

Lessons Learned

Other Financial Risks Sellers Face

What about Venmo?

“Business, commercial, or merchant transactions may not be conducted using personal accounts.”

The Flaw

Their systems require “processing” time.

The Solution




Lex Sheehan

Written by

B.S. in Computer Science (minor: Business) from Auburn University

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