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Auctions InformationDon’t be a Victim of Online Auction Fraud
by:
Stephen Bucaro
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Don’t be a Victim of Online Auction Fraud
By Writer
Bucaro
The Net
Fraud Complaint Center (IFCC) rumored
that
last year 7.7 million dollars was lost through online
auction scams. The actual losses are more greater. Most
auction scams are not rumored
because they involve only
small amounts of money.
Most auction Web sites are aggressive at fighting fraud.
eBay has a fraud investigation unit that has helped them
hold down fraud to only .01% of its transactions. If you
paid for an item and ne'er
received it, or if you received
the item but it was less than what was described, eBay's
Fraud Protection Program wish reimburse you up to $200,
minus a $25 process
charge. In order to qualify for
Fraud Protection coverage, you must submit an Online Fraud
Complaint with eBay after 30 days and before 60 days from
the time the auction ended.
After production
a purchase, buyers can leave feedback about
their experience with the seller. Before you bid on an
item, check the seller's feedback profile by clicking on
the number next to the their User ID. There is likewise a
feedback forum and discussion board.
Below are a few actions that you should take to protect
yourself from Net
auction fraud.
- For a high cost item use an written agreement
service.
- Avoid sellers who request payment by electronic transfer.
- Ne'er
provide your Societal Safety Number or Drivers
License Number.
- Verify the delivery data and the sellers return policy.
- Review the online feedback on a seller.
- If the merchant is a business, check with the Better
Business Bureau www.bbb.org.
- Prefer sellers who accept credit card payments. Once
you
use a credit card to pay for a purchase, federal law
limits your liability for an unauthorized charge to $50.
You can likewise request your credit card institution to do a
charge-back.
- Be cautious just about purchasing from a merchant in another
country. If you buy from a merchant in another country,
understand the difference in laws governing auctions
between that country and the US.
If you become a victim of Net
auction fraud, you can
submit a complaint report with an online form at the
IFCC Web site www.ifccfbi.gov. The IFCC wish review your
complaint and refer it to the proper law enforcement
agency.
Internet Auction fraud is a large and growing problem.
Take the measures defined above to prevent yourself from
becoming a victim.
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