Electronic auctions(e-auctions) is auction which is conducted online, and it have been in existance for several years. individual consumers and corporations alike can participate in this rapidly growing and very convinient form of e-commerce.Even e-auction undoubtedly brings a lot of advantages to both buyers and sellers, but e-auction fraud is exist and it is a growing epidemic worldwide, as online shopping has grown significantly every year that online shopping has been available.
When you bid on something that's thousands of miles away, you can't easily inspect it. Alternatively, sellers don't know their buyers, and could be swindled. How can you protect yourself?
In fact, auction sites will never be able to offer complete protection against fraud. Ultimately, you have to learn to PROTECT YOURSELF.
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Following are the tips to prevent e-aution fraud: x
Following are the tips to prevent e-aution fraud: xaBecome familiar with the auction website. Look into the websites protection policies. Neverassume you are protected from auction fraud.
aBefore placing a bid, learn as much as you can about the seller. If you can’t find anything out about the seller, than avoid doing business with them. Never fall for promises of better deals by moving away from the original auction website.
aBefore placing a bid, learn as much as you can about the seller. If you can’t find anything out about the seller, than avoid doing business with them. Never fall for promises of better deals by moving away from the original auction website.
aUser identity verification such in IC number, driver’s license number or date of birth. For example,verified eBay user, the voluntary program, encourages users to supply eBay with information for online verification.
aInsurance policy. For example, eBay offers insurance underwritten, users are covered up to $200, will with a $25 deductible. The program is provided at no cost to eBay user.
aEscrow services. Both buyers and sellers in a deal are protected with an independent third party. Buyer mails the payment to escrow services which verifies the payment and alerts the seller when everything checks out. An example of a provider of online escrow services s i-Escrow.
aAppraisal services which use a variety of methods to appraise items. It includes expert assessment of authenticity and condition, and reviewing what comparable items have sold for in the marketplace.
aBe aware of phishing Verify that you are receiving emails from the correct source and that you are logging in at the correct website. Do not simply disclose your personal data – if you see e-mail messages from someone you do not know that ask you for personal data for examples, credit card number, account number, or password, do not just send the data without knowing more about who is asking.
aWhen making payment, prefer using your credit card over online transfer. Using a credit card give you the opportunity of a chargeback in case the transaction turns out a fraud. Use debit card, wire transfer, or money order only when you completely trust the seller.
aCheck if the product you are purchasing has appropriate warranty and documentation with it. If not, make sure that you intend to purchase it without that protection. Check if shipping and delivery is covered
aCheck that you are not purchasing a product that you are not allowed to possess lawfully.
aCheck that you are not purchasing a product that you are not allowed to possess lawfully.
aBe wary of products that offer revolutionary results. In most cases, they are fraudulent claims.
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