Ways of Avoiding Scams While Carrying Out Online Businesses

As said in an earlier post an Online market is a place where people come together to buy and sell. That is to say even the website such as olx is not sure of the authenticity of the products being displayed by sellers. Therefore a lot of people get swindled for they think only serious minded people visit this sites. Well below are ten ways of which you can help protect yourselves and others from being defrauded while carrying out online transactions.

1. Know Who You Are Transacting With.

Having the phone number of who you are dealing with is definitely not enough. You need to know the seller’s physical address.Do an online search for the company name and website, and look for reviews. If the feedback is not favorable, then you choose if that is the best for you.. After all, a deal is good only if you get a product that actually works as promised. If it is an individual make sure create a meeting at an open space around people so as to avoid any case of harassment.

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2. Never Wire Money To Sellers From An Online Market

Fraudsters in most cases will insist that you wire money to them. Why? That’s because it is almost impossible to reverse the transaction or trace the money. Don’t wire money to strangers,clients, buyers or sellers who insist on wire transfers as a medium of payment.

 3. Read your monthly statements.

Fraudsters steal account information and then run up charges or commit crimes in your name. Fraud merchants will charge you for monthly fees” and other goods or services without your permission. If you notice some fees or charges you don’t know or could not verify, then you need to contact your bank as fast as possible, card issuer, or other creditor at that time or instantly.

4. Don’t reply to messages asking for personal or financial information.

You need to be careful of messages or links asking for your personal or financial information. Most of them are fake and they are keen on getting your personal information for fraudulent act, please don't fall for scam through this means. Online business should be treated with care.

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5. Talk to Experts Before You Buy Any Product Online

Whatever it is you want to purchase online, make sure you speak to people ho have at least basic knowledge of the product so you do not get ripped off by paying too much or so you can identify if the seller I legit. Forexample imagine someone trying to pass off an a fairly used iPhone 5 for just 10,000 Naira. Absurd right? But you would actually see such crazy adverts at online markets. However adequate knowledge of the iPhone product will immediately allow your senses to recognize it’s a scam are rip off.

6 Utilize Common Sense

If time has taught me one thing, Common sense is rare and scarce. While some of these suggestions might be real, they're worth repeating.
Do not let your emotions determine whatever steps you are meant to take with a seller. Wether they need money or not. Appropriate precautions must be taken so you do not fall vctim to fraudster.