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Wal-Mart Closes Loophole on PlayStation 4 Scam

Wal-Mart scammed, sells PlayStation 4 for $90 0:53

No more super-cheap PlayStation 4 consoles. Wal-Mart has locked down its price-matching policy to prevent fraud. After Wal-Mart announced Nov. 13 that it would price match select online retailers, including Amazon.com, several customers used the program to buy $400 PlayStation 4 consoles for under $100 using fake Amazon listings. Twitter and Reddit users posted pictures of receipts documenting PS4 prices as cheap as $90. CNBC.com spotted more evidence of the fraud on Twitter Wednesday, including more pictures of receipts for $90 PS4s and others for a $100 Xbox One console and games. Wednesday afternoon, a Wal-Mart spokesman told CNBC that the retailer's policy has been updated as a result of the fraud. The updated policy on Walmart.com notes stores will not honor prices from marketplace vendors, third-party sellers, auction sites or sites requiring memberships. "We can't tolerate fraud or attempts to trick our cashiers," Wal-Mart said, in a statement. "This kind of activity is unfair to the millions of customers who count on us every day for honest value."

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--- Kelli B. Grant and Sarah Whitten, CNBC