RMT and Banning Buyers

[Gunspec]

I don't know why people keep insisting that Square makes money off RMT and RMT "buys" new accounts. Most of the time, RMT are using stolen accounts and stolen credit card info. Anyone with any lick of sense on them are going to block unknown charges and issue chargebacks, which costs Square money.

So you think they have a problem where 7000 accounts were hacked just this month... and yet their reaction to it is the lazy approach they have been taking for the past two years? You think they are LOSING a million dollars a year to account fraud, and yet only have 3 people on their anti-RMT task force?

I've known of people, indirectly, on several college campuses who operated as RMT. They were exploiters and botters, but they sure as hell weren't dumb enough to do something actually illegal, such as credit card fraud. Consider the amount of money a single RMT sale is worth, then consider that it only takes $15 of that to run an account for a month. No need to commit crimes, no need to raise attention. And that amounts to some serious money running both ways.