Trade Articles

e-Business refers to web business devoted in earning profits by purchasing and selling of goods in the virtual business environment. Since its advent, internet has simplified the business activity and ease down the trading procedure. It is comforting for both buyers and sellers, which has make the searchable process more easier and convenient in throughout the world. However, the internet has brought some drawbacks also. Nowadays the word 'e-fraud' has become a common practice, which is rising manifolds. It is imperative to be wary while purchasing or selling goods or services through on line. Resolving problems with a stranger can turn to be futile experience in case of cross border transaction. With an advent of internet, domestic territories have become permeable to business and investment, which in turns increases chances of fraudulent means. Internet has transformed into a portal for fraudsters. There are many ways through which fraud or scam can poke into your business transaction. To make your sale or purchase commerce free from e-fraud or scam, here are some of the ways with their remedial measures

Types of e-Scam
Scam arising out of the internet can be put under different heads. It can be of various types, from misappropriate use of credit cards to fake investment and even a commercial transaction with a company, that was considered to be a reliable one in its first phase.

• The most common one prevalent in the e-business is found in case of Auction Dealings. As per the records of the National Consumers League, around 87% of e-business scams are generated while doing Online Auctions. During online auction, both seller and buyer are unknown to each other. By faithing on a seller, buyer undergone in the business procedure. On the other account, seller without possessing full information about the buyer, starting off the business transaction.
• Apart from the online auction, the National Consumers League has pointed out other high sensitive area of e-business scams. These are Merchandise Sales, Internet Access Services, Computer Equipment which hold 7%, 2% and 1.3% respectively.
• Credit Card Scam has become a hot bot problem for users. Both buyers and sellers are affected by the fraud. It can be fraudulently use by people for purchasing goods from you or your card can be used by fraudsters somewhere in the transaction, without your knowledge.
• Phishing Scam is a computer practice of fraudulently extracting details and information about the user like name, passwords, bank statements or credit card details by masking as a reliable business entity in the virtual business world. It is generally done through emails and instant messaging.

In tune of the hi tech world, people have found new means of living by imparting fake investment advice to companies or individuals and in turns reap the benefits when their advice is acted upon by others. Being able to increase their proximity network via the e-mail, bulletin boards and newsgroups, they have become highly professionals in their field.

How to avoid e-business Scams
'Precaution is better than cure', this old mantra holds its truthfulness also when it comes for combating with e-business scams. The Internet is a step paving towards the hi-tech world. Getting rid of e-fraud requires due diligence and carefulness from the part of its user.

• Phishing Scams
• Be extra cautious for those emails which are asking for your personal data and information. Like credit card or bank account number, date of birth etc.
• Scammers generally try to intimate users with their attractive but false promises or statements in their emails.
• Phishinng scams do not target a single user or group. They are not personalized in any sense. It can be in the form of valid emails form your banks, therefore for any confusion it would be better to call up your bank instead of regretting later.
• Avoid using links or chats to reach to any web page if you are double minded about the authenticity of sender. If you have any double thought about the reliability of company it would be nice to call the company or log on to their website by typing their url in browser.
• Scammers usually avoid the "https://", therefore check out the address line too.
• Install a web browser tool bar which will ensure protection against scammers and any phishing websites. Such tool bars keep a record of web pages you are using and give an alert in case you going to work out on phishing website or web page.
• Make it a habit of regularly checking your mail accounts. Don't leave it for unchecked more than 1 or 2 months.
• Check your bank or credit card statements on a regular basis. If there is any thing suspecting, don't think for a minute to call you bank and card issuers to clarify it.
• Ensuring the authenticity of website whenever you are making online payment or imparting any detail via web browser, as it will help in curtailing down risk factor that could arise in case of using phishing scams.
• Always ensure that you're using a secure website when submitting credit card or other sensitive information via your web browser.
• Now a days scammers can easily hoax '"https://" and authentic looking address which can be seen on a secure web pages. These can be seen in phishing mails also. Instead of clicking on the displaying address always enter the address of any deal, auction or financial transaction by your own.
• Don't get duped with the prizes, guarantees, huge income returns.


• Internet Auction Transaction
• Make a thorough research before stepping in auction. How the auction will work, what is the criterion, what are buyers and sellers obligations before starting of bidding.
• Learn what are the actions company or website can take in case any problem occurs during shipment of goods.
• Collect as much as information you can collect about the seller, especially if you only have his email address. In case of trading activity you can check out business directory.
• Carefully examine each and every feedback you have received from the seller.
• Be attentive towards payment method. Which method seller is requesting to buyer and whether he/she is asking for any advance payment or not.
• Get a particular date for delivery of goods. Make it out that if any problem arise in relation to the merchandise, is it covered with warranty or not?
• Apart from the merchandise cost, get an advance knowledge about any additional cost like shipping or delivery cost which can arise during transit of merchandise.
• In any circumstances don't disclose your personal financial number to seller.
• Before entering into online transaction make sure that the seller is reliable and reputable.
• Instead of relying upon only postal address and e-mail, try to get physical address and telephone number. Call upon the seller to see whether phone is working or not.
• Don't make out impression about the reliability of person or company by just looking on his/her websites.
• Be alert while dealing with company/person situated outside your national territory.


• Credit Card Transaction
• Think twice before telling your credit card number. Many times a small icon displaying on the web page provides security with respect of data transmission.
• Do a security research in relation to site. 'Never trust a site because it said do so'.
• Make a list of all your credit cards along with contact details of its issuers. In case something is phishing out don't give a minute to call card issuer.
• You can use online payment system for making payment in case of purchasing/selling goods via internet.
• Make yourself satisfied about the validness of transaction before disclosing your credit card numbers.
• Be skeptical about such ad's that ready to make millionaire in just 1 week like LEARN HOW TO EARN $1,000000,000 or SHOT CUT for enjoying MIRACLE CURE.
• 'All that which glitters are not necessarily to be gold'. Don't judge reliability of person by its flashy websites. It does not guarantee about his legitimacy. Flashy websites can be created in 2 days and after duping people they got vanished within a second.


• Golden Rules
• While entering into any online transaction, make sure that the respective company is someone you completely know and fully rely on. Collecting material information about the company, performance and physical location will help in breaking a trustworthy deal. Knowing the full detailed account about the company will provide faster resolution, in case any problem arise in future.
• Before proceeding with any on line business agreement, make sure that you have read out and completely understood all the services of the company. If you are not satisfied with the provided information, ask for more details. Entrusted companies will have no problems in responding to your inquiries. But if the company refuses or shows disinterest in satisfying you with requisite information, then its better to keep distance from them.
• Don't judge the professionalism of a company by its flashy web sites or pages. Just because it is looking good does not mean it is good in business run also.
• Unless and until you are not sure about the legitimacy of company, never show hurry in disclosing your financial or personal status like bank account details or credit card number.
• Do not send any check or payment prior of getting a written valid document from the company, indicating the same.