Author Topic: Black market in Fot credits (Read 5982 times)

BaldricksTrousers · « **on:** April 14, 2011, 05:36 »

So how is someone selling bundles of credits at less than half the US price? Credit card theft? Stolen from employer? Corrupt insider? I didn't even know they could be transferred to a third party.

http://forums.digitalpoint.com/showthread.php?t=2056598

leaf · « **Reply #1 on:** April 14, 2011, 05:40 »

there was also a thread on dpchallenge a while ago.. sound phishy to me
http://www.dpchallenge.com/forum.php?action=read&FORUM_THREAD_ID=1054728

BaldricksTrousers · « **Reply #2 on:** April 14, 2011, 05:44 »

This seems to be on an entirely different scale, the guy's offering thousands of the things and is geared up as a business.

And he's been doing it since January (!!??!!)

gostwyck · « **Reply #3 on:** April 14, 2011, 08:20 »

Quote from: BaldricksTrousers on April 14, 2011, 05:36

I didn't even know they could be transferred to a third party.

On FT's site there is a button to "Transfer credits to another member". If you click on it then you get to create a new 'sub-account'. The seller might be creating new sub-accounts for the buyer, transferring the credits and then providing them with the log-in details to the new account. That would also overcome the currency issue and any taxes (VAT) applicable in the country of purchase.

No idea what the source of the credits is though and I don't see how it can be legit either. Could the credits have been stolen (i.e. transferred) by a dishonest employee of a large account holder? I could imagine transferring a few credits per week or month into a sub-account might not be noticed.

click_click · « **Reply #4 on:** April 14, 2011, 08:40 »

Is this common practice at other agencies as well that "credit resellers" infiltrate forums to blow out discounted credit packages?

This looks really weird to me. I wonder if Fotolia really authorizes/condones selling schemes like this one.

Did anyone already contact Fotolia about this?

MatHayward · « **Reply #5 on:** April 14, 2011, 10:22 »

I'm sending this link to them right now. Crazy.

Mat

Jo Ann Snover · « **Reply #6 on:** April 14, 2011, 11:18 »

The seller was asked about expiration dates, which he said was 2 years from the transfer, but I'd have thought it was 2 years from the purchase date - the original purchase date. Given the seller has been offering these deals for months and one poster claimed he'd gone back for more credits, this can't have been one bulk purchase that was being sold off over time. If that were the case, there'd be less and less time remaining on these credits.

If it isn't some scummy employee taking credits he payed nothing for, I can't see how you can sell for less than half price and make any money on the deal.

I guess as FT has payments to contributors at a fixed rate, not at a percentage of whatever the buyer paid, this is a scam that doesn't directly hurt the people whose images were purchased unless FT voids all the sales.

I don't remember seeing anything quite like this before in the various scams that have come up. I guess the criminal mind is ever inventive

lisafx · « **Reply #7 on:** April 14, 2011, 14:16 »

Quote from: jsnover on April 14, 2011, 11:18

I guess as Fotolia has payments to contributors at a fixed rate, not at a percentage of whatever the buyer paid, this is a scam that doesn't directly hurt the people whose images were purchased unless Fotolia voids all the sales.

That would suck. I would hate to see royalties clawed back and FT over these credit sales.

leaf · « **Reply #8 on:** April 14, 2011, 14:33 »

I couldn't ever figure out how the credit card fraudists on iStock were making money or what their motivation really was, surely there is a better way to get money from a credit card than buy iStock images... but perhaps this is a credit card fraud, it makes a little more sense.

BaldricksTrousers · « **Reply #9 on:** April 14, 2011, 16:23 »

Quote from: lisafx on April 14, 2011, 14:16

Quote from: jsnover on April 14, 2011, 11:18

I guess as Fotolia has payments to contributors at a fixed rate, not at a percentage of whatever the buyer paid, this is a scam that doesn't directly hurt the people whose images were purchased unless Fotolia voids all the sales.

That would suck. I would hate to see royalties clawed back and Fotolia over these credit sales.

If the credits have been stolen from some big customer who has paid Fotolia the money, then there is no reason at all for Fotolia to void any sales. The problem is between the illicit vendor and the organisation he is (presumably) stealing them from. Fotolia has merely received the money in a perfectly legal transaction and provided the proper service, it can't be held responsible. I doubt that it is credit card fraud because it has gone on so long and looks too easy to trace for a card fraud gang to risk.

OM · « **Reply #10 on:** April 18, 2011, 13:33 »

Seems to me that FT exclusive gold members and above could profitably buy credits from this vendor in USD and use them all buying their own images at a profit especially when registered on a FT Euro site. This is the stock equivalent of the perpetual motion machine.

Start at gold with 4% profit. Quickly rise to diamond for 13% profit on every file sold to yourself!

microstockphoto.co.uk · « **Reply #11 on:** April 18, 2011, 14:58 »

Quote from: OM on April 18, 2011, 13:33

Seems to me that Fotolia exclusive gold members and above could profitably buy credits from this vendor in USD and use them all buying their own images at a profit especially when registered on a Fotolia Euro site. This is the stock equivalent of the perpetual motion machine.

Start at gold with 4% profit. Quickly rise to diamond for 13% profit on every file sold to yourself!

Although this is theoretically possible, I don't believe a gold member - or many gold members indeed, as this would require a large number involved not to get caught - could behave so unprofessionally and risk his/her status. There must be some other explanation.

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Author Topic: Black market in Fot credits (Read 5982 times)

BaldricksTrousers

leaf

BaldricksTrousers

gostwyck

click_click

MatHayward

Jo Ann Snover

lisafx

leaf

BaldricksTrousers

OM

microstockphoto.co.uk

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