An auction is a market mechanism by which buyers make bids and sellers place offers. Electronic auctions which are auction conducted online. Its have been in existence for several years on local area networks and were started on the Internet in 1995. According to Internet Fraud Watch, e-auction fraud accounted for 70 percent of the e-commerce fraud that occurred in 2001. Therefore we must have some prevention of it.
The prevention of e-auction fraud:
Become familiar with the auction website
Look into the websites protection policies. Never assume you are protected from auction fraud.
Feedback Forum
For the eBay.com that provide Feedback Forum. It allows registered buyers and sellers to build up their online trading reputations. It provides users with the ability to comment on their experiences with other individuals.
Do not give out your personal data
Never ever give out your social security number, drivers’ license number, credit card number, or bank account information until you have thoroughly checked out the seller and the escrow service.
Before 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.
Verification system
Through verification systems can help us to confirming the identity and evaluating the condition of an item. With verification, neutral third parties will evaluate and identify an item through a variety of means. For example, some collectors have their item “DNA tagged” for identification purposes. This provides a way of tracking an item if it changes ownership in the future.
Feedback Forum
For the eBay.com that provide Feedback Forum. It allows registered buyers and sellers to build up their online trading reputations. It provides users with the ability to comment on their experiences with other individuals.
Do not give out your personal data
Never ever give out your social security number, drivers’ license number, credit card number, or bank account information until you have thoroughly checked out the seller and the escrow service.
Before 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.
Verification system
Through verification systems can help us to confirming the identity and evaluating the condition of an item. With verification, neutral third parties will evaluate and identify an item through a variety of means. For example, some collectors have their item “DNA tagged” for identification purposes. This provides a way of tracking an item if it changes ownership in the future.
1 comments:
From your blog, i had learned that when participate in an e-auction activity should take note many things to prevent e-auction fraud.
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