Latest news with #Chargebacks911
Yahoo
25-07-2025
- Business
- Yahoo
This Houston man got an immediate above-asking offer for his 1948 Packard — but it ended up costing him thousands
Thinking about buying or selling a used car? You may want to proceed with caution so you don't fall victim to a fake overpayment scam that uses fraudulent checks. 'I could see how so many people could easily fall for this,' Matt Neff, who was recently trying to sell his 1948 Packard online, told KHOU 11 Houston. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how Neff learned firsthand how a scam like this can happen. Here's what you need to know so it doesn't happen to you. How the fake 'overpayment' scam works This type of scam typically takes place via online marketplaces (rather than in person) where the buyer overpays for the product you're selling. 'The buyer may claim to have seen the listing on Craigslist or on Facebook Marketplace, and declare that they want to buy it for more than you are asking just to ensure no one else buys the listing before they do,' according to Chargebacks911. Or, they might say they overpaid to cover shipping and handling or other fees. Whatever the excuse, they follow up by asking you to refund the overpayment to a third party. In the meantime, they've sent you a check and you've sold them your car. When, several days later, the bank processes the check, you're informed that the check was fraudulent — but the fraudster is already in the wind and you're on the hook for the money. This is what happened to Neff, when a potential buyer sent him a check for more than his asking price and then asked him to refund the overage to a shipping company. 'And sure enough, 10 days later it came back as a counterfeit check,' he told KHOU 11. It can also happen to buyers. Dayja Wallace nearly lost $1,200 when she tried buying a used car online. In her case, the seller used a sense of urgency to push the sale forward, saying that their son had passed away and they wanted to 'hurry up and sell the car,' she told KHOU 11. The seller suggested that Wallace pay a shipping company up front to speed up the transaction and the seller would then send a check to Wallace. A fake check can look remarkably like a real one — and in some cases it may actually be real, but it belongs to someone whose identity has been stolen. 'It can take weeks for a bank to figure out that the check is a fake,' according to the Federal Trade Commission (FTC). 'Even if you see the funds in your account, that doesn't mean it's a good check. Fake checks can take weeks to be discovered and untangled. By that time, the scammer has any money you sent, and you're stuck paying the money back to the bank.' Even if you were unaware that you were being scammed, you could still be responsible for replacing the funds. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Red flags every used car seller or buyer should know Summer is often the peak car buying season, according to Premier Auto Group. 'Families often seek to purchase vehicles before the school year starts. While you can find deals, prices may be higher due to demand.' Even if prices are higher, beware of customers who offer to overpay or 'accidentally' send you more money than the asking price. 'This is a huge red flag, and you should respond by rejecting any transaction with this customer. This is doubly true of any customer who offers to pay your transaction fees,' warns Chargebacks911. Indeed, you may want to avoid accepting checks altogether. Instead, use a credit card, which can help protect you from fraudulent transactions (most major credit card companies have zero-liability protection). And don't forward funds to a third party for any reason. 'Customers that ask you to transfer any amount of money for any reason should be flagged as potential fraudsters and their transactions immediately canceled,' advises Chargebacks911. Other red flags include a sense of urgency and/or not wanting an in-person viewing (which is unusual for a major purchase like a car). You should also be wary if you're feeling pressured to use an escrow service you're not familiar with — fraudsters can set up a fake escrow company or even pose as a legitimate one. 'Be wary the moment a seller begins to stipulate the escrow site that must be used to complete a transaction. That is your time to run a thorough scrutiny on the website before settling for it,' says You should also avoid any services that require payment through untraceable methods. If you think you may have been targeted by an overpayment scam, report it to the FTC and your state consumer protection office. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Solve the daily Crossword
Finextra
28-05-2025
- Business
- Finextra
Chargebacks911 appoints Microsoft's Donald Kossmann as CTO
Chargebacks911, a global leader in chargeback prevention and dispute management, announced Tuesday the appointment of Donald Kossmann as its new Chief Technology Officer (CTO). 0 Kossmann, a globally recognized technologist and AI pioneer, joins the company after an exceptional decade-long tenure at Microsoft, where he most recently served as Distinguished Engineer and Vice President of Business Copilot. Kossmann's arrival marks a pivotal moment for Chargebacks911, as the company continues its mission to transform the post-transaction payments ecosystem through cutting-edge artificial intelligence (AI). Possessing more than 30 years of experience in computer science, AI, data systems, and fraud protection, Kossmann brings a rare blend of academic distinction and enterprise innovation to the role. At Microsoft, Kossmann led several groundbreaking initiatives, including serving as General Manager of Fraud Protection and Managing Director of Microsoft Research's Redmond Lab. He played a key role in the development of SQL Hyperscale and Microsoft Copilot Studio —two flagship products that define Microsoft's cloud and AI strategy today. Before joining Microsoft, Kossmann was a Professor at ETH Zurich, a Visiting Professor at Stanford University, and co-founder of Teralytics AG, a Big Data startup powering behavioural insights across industries like retail, finance, and transportation. Kossmann also holds a Doctor of Philosophy in Computer Science. 'Payments are a pillar of civilization, but trust in digital transactions remains a fundamental challenge,' said Kossmann. 'Chargebacks911 is on a mission to reinvent the future of payments with AI at the core. I'm excited to roll up my sleeves and work hands-on, solving hard problems with a team that is passionate about creating secure, scalable systems for the digital economy.' Kossmann's appointment underscores Chargebacks911's commitment to advancing technology that prevents fraud, reduces friction, and restores trust between merchants and consumers. As CTO, he will spearhead the development of next-generation solutions that integrate machine learning, and real-time data intelligence across the company's global platform. 'Donald's decision to join Chargebacks911 is a resounding validation of our vision and direction,' said Monica Eaton, Founder and CEO of Chargebacks911. 'He's not just one of the top minds in AI and data systems—he's a builder, a thinker, and a leader who understands how to move fast and make a real-world impact. We're thrilled to welcome him aboard.' With Donald Kossmann at the helm of its technology strategy, Chargebacks911 is poised to redefine how the world approaches chargeback management, fraud prevention, and digital trust in commerce.
Business Wire
28-05-2025
- Business
- Business Wire
Chargebacks911 Appoints Donald Kossmann as CTO to Lead AI-Driven Innovation in Payments
TAMPA, Fla.--(BUSINESS WIRE)-- Chargebacks911, a global leader in chargeback prevention and dispute management, announced Tuesday the appointment of Donald Kossmann as its new Chief Technology Officer (CTO). Kossmann, a globally recognized technologist and AI pioneer, joins the company after an exceptional decade-long tenure at Microsoft, where he most recently served as Distinguished Engineer and Vice President of Business Copilot. Kossmann's arrival marks a pivotal moment for Chargebacks911, as the company continues its mission to transform the post-transaction payments ecosystem through cutting-edge artificial intelligence (AI). Possessing more than 30 years of experience in computer science, AI, data systems, and fraud protection, Kossmann brings a rare blend of academic distinction and enterprise innovation to the role. At Microsoft, Kossmann led several groundbreaking initiatives, including serving as General Manager of Fraud Protection and Managing Director of Microsoft Research's Redmond Lab. He played a key role in the development of SQL Hyperscale and Microsoft Copilot Studio —two flagship products that define Microsoft's cloud and AI strategy today. Before joining Microsoft, Kossmann was a Professor at ETH Zurich, a Visiting Professor at Stanford University, and co-founder of Teralytics AG, a Big Data startup powering behavioural insights across industries like retail, finance, and transportation. Kossmann also holds a Doctor of Philosophy in Computer Science. 'Payments are a pillar of civilization, but trust in digital transactions remains a fundamental challenge,' said Kossmann. 'Chargebacks911 is on a mission to reinvent the future of payments with AI at the core. I'm excited to roll up my sleeves and work hands-on, solving hard problems with a team that is passionate about creating secure, scalable systems for the digital economy.' Kossmann's appointment underscores Chargebacks911's commitment to advancing technology that prevents fraud, reduces friction, and restores trust between merchants and consumers. As CTO, he will spearhead the development of next-generation solutions that integrate machine learning, and real-time data intelligence across the company's global platform. 'Donald's decision to join Chargebacks911 is a resounding validation of our vision and direction,' said Monica Eaton, Founder and CEO of Chargebacks911. 'He's not just one of the top minds in AI and data systems—he's a builder, a thinker, and a leader who understands how to move fast and make a real-world impact. We're thrilled to welcome him aboard.' With Donald Kossmann at the helm of its technology strategy, Chargebacks911 is poised to redefine how the world approaches chargeback management, fraud prevention, and digital trust in commerce. For more information on Chargebacks911, visit Chargebacks911® is the global leader in chargeback prevention and remediation technology. As a platform provider to merchants and financial institutions, Chargebacks911 is the first global company fully dedicated to providing an end-to-end platform specifically designed to counter post-transactional fraud and chargeback misuse. Today, Chargebacks911 safeguards more than 2.4 billion transactions per year on behalf of clients in 87 countries around the world, supporting over 2.5 million merchants. For details on Chargebacks911's comprehensive dispute management solutions, visit
