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Safe B2B Trading Online

How can I be sure that the person contacting me is genuine?

Jou Yaoo

June 19, 2008

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The seller is asking for advance payment, how can I be sure he will ship my goods?

If you are a buyer, sometimes a supplier may ask you for a deposit (usually 30%) before he accepts the order. While this is not unusual between long-standing trading partners, if you are doing business with the supplier for the first time, make sure you have done sufficient background checks on the supplier before you agree to the deposit.

Ask for a different form of payment, such as a letter of credit, or escrow payment. Don’t wire the money at one occasion.

If the seller seems more focused on payment than any other issue, or indicates that cash payment must be made urgently, more caution should be given to the transaction.

Be extra cautious when the seller asks you to send money to an account whose real owner cannot be traced; for example, you cannot trace the real name of the person behind an account with a wiring service such as Western Union or money gram.

I am a seller, How can I protect myself against fraud?

Don’t accept checks, as these could be forged or stolen, even if they clear in the bank, they could be recalled by the real owner when forgery is discovered.

Don’t accept credit card payments specially for large amounts, as there is a risk that these cards are stolen. Specially if card details are sent by email, fax or tel.

Never email your Performa invoice, as these can be used to steal your identity to scam others. Always send your Performa Invoice by Fax.

Never accept a mobile / satellite number alone, insist on a regular land line telephone number. As SIM cards can be thrown away easily, and the holder never traced.

The person who sent you the inquiry is insisting on large volumes ordered without even seeing a sample and just wants the Performa Invoice sent so that they can get approval by their government. Do not believe this... They only want the Performa Invoice to take your money!

I am a buyer, How can I protect myself from fraud?

Never accept to pay in cash, or cash transfers such as western union or money gram, mailed check, as these cannot be traced to the receiver.

Never accept a mobile / Satellite number alone, insist on a regular land line telephone number and fax numbers. As SIM cards can be thrown away easily, and the holder never traced.

Never send money to a Box No.

Never order a large amount unless you have purchased a sample first, and have seen the quality.

Never respond to scam emails claiming loads of money such as the Nigerian scam emails.

Be wary of buying from spammers who send unsolicited offers through email.

Don’t send money transfer through the bank, use safe payment methods as below.

How can I find more information about safe trading online?

Common Fraud Schemes - Describes scams to avoid, most of which are internet-related. It is organized by Federal Bureau of Investigation, US.

Fraud Bureau - Search for, or register, a complaint relating to online vendors and online auctions, including information and news about fraud on the Internet.

Cyber Criminals Most Wanted - Overview of cyber criminal activity that includes safety, security, viruses, scams, filtering, encryption, hackers and government legislation.

Cybercrime - Computer crime section of the US Department of Justice contains links relating to internet commerce, intellectual property crimes, cybercrimes and general information.

Nigerian Advance Fee Fraud - Detailed information on the scheme, centered largely in Nigeria, wherein people are offered a share of millions of dollars to help transfer the money to their bank account. From the U.S. State Department.

How can I report the Internet Fruad?

Internet Crime Complaint Center (IC3) - The Internet Crime Complaint Center (IC3) is a partnership between the Federal Bureau of Investigation (FBI), the National White Collar Crime Center (NW3C), and the Bureau of Justice Assistance (BJA) of United States.

National Fraud Information Center - US National Consumer's League's website provides a page devoted to Internet fraud.

Report cyber crimes - Internet-related crime, like any other crime, should be reported to appropriate law enforcement investigative authorities at the local, state, federal, or international levels, depending on the scope of the crime.

Fraud Watch International - Reduce the incidence of Internet Fraud, and protect consumers from Identity Theft where personal and credit information is collected by fraudulent and deceptive means on the Internet.

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