Online Business Fraud
How does it work?
With online auction fraud, goods ordered by customers (buyers) are not delivered as promised by sellers after payment is made, and buyers have no way to recover the money paid.
The seller fails to receive any money after delivery of goods to the buyer. Most of the cases involved false payment, for example, a bogus foreign bank’s email was received by which payment is confirmed, or a dishonoured bank cheque was received by the seller.
What is our advice?
- Get to know the trustworthiness and reliability of the party whom you conduct the transaction with beforehand;
- Conduct transactions through reliable intermediary platforms;
- Cease the transaction if you have any doubt;
- Transaction should be ceased immediately and reporting to the police should be considered once you think you might be cheated in the transaction.