No more super-cheap PlayStation 4 consoles. Wal-Mart (WMT) 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 (AMZN), 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.
Read More Online shoppers: Beware of fake deals 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 seller, 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." Earlier in the day, several users also tweeted (unverified) pictures indicating stores were starting to pay attention. One showed an in-store sign stating that Amazon.com PS4 ad matches will no longer be accepted "due to fraud." Another user's picture showed updated match requirements, including listings sold and fulfilled by Amazon and verification for any "huge" price differences.
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