How to Prevent E-Auction Fraud?

Generally, two types of online auction fraud are classified:Seller Fraud and Buyer Fraud

Seller Fraud => This kind of fraud happen more in the past which occurs when a seller fails to deliver goods after taking payment from a buyer.

Buyer Fraud => While this fraud happens to the seller when buyer pledges to purhase product but fail to make payment. It can happen in eBay or any online markets. Such fraud can take different forms, when a buyer refuse to pay for his winning bid, or buyer reversing payment after payment is made. This lead to buyer in eBay to loose listing fees, and have to find new potential buyers it lower price.

It is said e-auction fraud is a "cost of doing business", however, it is expensive and can be prevented no doubt in lower cost.

How?

Service provider such as ReliaBid, is designed to eliminate non-paying bidders and ensure quick payment from buyers. ReliaBid's subscribers website will display a unique seal which effectively ensures winning bidders promptly fulfill their payment obligations. It is a seal that communicate clear message that deters non-paying buyers. To know more..click below

http://reliabid.com/public/drop-shops.html

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Another way to ensure payment reach safely to seller is taking up escrow service, which receives payments, notifies the seller and holds the money untill buyer receive the item bought. This protects online customers.

While another way is not to proceed to sales which sellers who are unable to accept credit card payment systems. This is because credit card will minimise potential loss if the number is provided to reliable vendor.