Paypal - about as a secure as a chocolate teapot?

Interesting to read a story on the Industry Standard earlier this week about how the portal has spotted the fact that a number of Paypal accounts have been compromised for around 16 months and eBay, which owns Paypal, has allegedly done nothing to counter the problem.

According to the newswire portal, the fraud involves taking out a dummy subscription to Skype, also part of the eBay family, and making several small charges - of the same value - against someone's Paypal account.

The Industry Standard says the exploit was first reported on The Register back in June, but the problem appears to go back a lot further, says the Standard.

Paypal seems to be aware of the problem, as the Standard reports that Paypal has eventually reversed any queried transactions by punters - but the problem persists.

"A request made by The Industry Standard to eBay regarding the issues did not receive a reply," speaks volumes.

You have been warned...