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e-Business Scams
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.
- 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.
- 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.
- 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.
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