European banks hit by rogue PayPal payments worth ‘billions’

The German Savings Association (DSGV) says that European banks have witnessed direct, unauthorized debts from PayPal accounts.

The German newspaper SEDDEUUTSICHE Zeitung (SZ) says payments of 10 billion euros (8.6 billion pounds) It had to be banned, after the failure of the PayPal system that studies fraud.

She said that the payments were stopped on Monday when the lenders reported millions of direct direct debts from the payment company.

DSGV assured the BBC that “incidents involved direct debts that have started by PayPal against various credit institutions.”

BBC Pay Pal called to comment.

“Some of the transactions from our banking partners and perhaps their customers,” told Reuters.

“We have quickly identified the cause and we are working closely with our banking partners to ensure the update of all accounts,” said Paypal spokesman.

DSGV said that PayPal “acknowledged disturbances” and “confirmed” that it had solved the problem.

“Payment transactions to and to Paypal are working normally again,” she said.

“These incidents had great effects on payment transactions throughout Europe, especially in Germany.

“The supervisory authorities were also informed of the PayPal.”

PayPal aims to liquidate fraud before they can reach banks through a security system.

In particular, it aims to deal with the fake debts created by criminals.

There are many methods that are prepared, but one of the typical methods is to deceive someone to deliver its details by pretending to be a bank or financial institution over the phone.

According to SZ, the PayPal candidate system did not work properly on Monday, which resulted in sending direct debts uncomfortable to the banks alongside that legitimacy.

The shares of the payment company fell by 1.9 % on Wednesday after the report.