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Amazon suspends 3,900 accounts for coronavirus-based price gouging

Amazon suspends 3,900 accounts for coronavirus-based price gouging
Posted at 4:13 PM, Mar 24, 2020
and last updated 2020-03-24 16:13:44-04

Amazon has suspended more than 3,900 selling accounts for violating the company's fair pricing policies.

KOMO News reports that Amazon removed over half a million offers from its stores for coronavirus-based price gouging and suspended thousands of accounts belonging to people who were trying to make a profit off of the supply shortage.

Due to the coronavirus pandemic, high-demand products like protective masks and hand sanitizer were targeted for price gouging.

"We began taking these enforcement actions promptly upon discovering this kind of misconduct, and we’ve been partnering directly with law enforcement agencies to combat price gougers and hold them accountable," Amazon said in a statement. "We are constantly monitoring our stores for unfair prices and listings that make false claims in regards to COVID-19."

In addition, the company said it has "zero tolerance" for price gouging and plans on combating the problem by monitoring stores 24.7 through automated and manual means.

KOMO News reports that Amazon has systems in place that help in locating and removing unfairly priced items on its site.

The company is also working with federal, state and local law enforcement agencies and policymakers to hold price gougers accountable for their actions.

More than half of Amazon's products are offered by third-party sellers that set their own prices, according to KOMO News.

Amazon still trusts that majority of it's sellers are honest and offer products at fair prices.

"Amazon is humbled by the trust our customers have placed in us during this difficult time," the company said in a statement. "We are fully committed to protecting their interests and rising to the challenges posed by COVID-19."