Amazon cracking down on price-gouging

WLS-AM is reporting today  on the world’s biggest online retailer cracking down during the current crisis.

When Amazon officials warned against price gouging during the coronavirus pandemic, clearly they were serious. The online retailer on Tuesday announced it has given the heave-ho to nearly 4,000 offending sellers.

“Amazon strictly prohibits sellers from exploiting an emergency by charging excessively high prices on products and shipping,” Amazon officials said in a statement announcing the account suspensions. “We have deployed a dedicated team that’s working continuously to identify and investigate unfairly priced products that are now in high demand, such as protective masks and hand sanitizer.”

Being booted from Amazon could be the least of the sellers’ worries. Company officials say they’re “proactively sharing information” with law enforcement authorities to expose “sellers we suspect have engaged in egregious price gouging of products related to the COVID-19 crisis.”

CBS 2 reported on local stores that have received price-gouging complaints.