Thing To Take Note To Prevent E-auction Fraud When A Consumer Participating In An-auction

E-Auction, is a tool used in industrial business-to-business procurement. It is a type of auction in which the role of the buyer and seller are reversed, with the primary objective to drive purchase prices downward. It is consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. In an ordinary auction (also known as a forward auction), buyers compete to obtain a good or service. In e- auction, sellers compete to obtain business.

To protecting against an e- auction fraud for a consumer;

To guard against the e-auction fraud, to be certain that you placed the product a verification email will be forwarded to the user. Upon receipt of this email, you must respond to ebay so that they may complete your bidder. Without this confirmation from user, the product will not be deliver. ebay are not liable for fraud committed against user , and ebay will be unable to help user if ones do not follow proper prevention measures.

Deliveries Procedures

• On average, almost all deliveries are completed in 7 to 14 business days.
• All items are Ground Delivery and you must provide a telephone number for the delivery address.
• To help you Track an Order, we will forward you tracking numbers via email within 3-5 business days of placing the order.
  Authorized Returns

• Authorization for any return merchandise must be approved by our Return Center.
• Once you receive authorization from our return department, we will also forward an e-mail with instructions on how and where to send your return.
• Return the item to the address given to you by our return department in that e-mail.

User identity verification

• Uses the services of Equifax to verify user identities for a $5 fee.
• Verified the user, a voluntary program, encourages users to supply with information for online verification.
• By offering their Social Security number, driver’s license number, and date of birth, users can qualify for the highest level of verification.

Authentication service

• Product authentication is a way of determining whether an item is genuine and described appropriately.
• Authentication is very difficult to perform because it relies on the expertise of the authenticators.

Feedback Forum

• The Feedback Forum allows registered buyers and sellers to build up their online trading reputations.

Insurance policy

• The offers insurance underwritten by Lloyd’s of London.
• Users are covered up to $200, with a $25 deductible.

Physical inspection

• When the seller and buyer are in the same location, it is easy to arrange for such inspections.

Escrow services

• For items valued at more than $200 or when either a buyer or seller feels the need for additional security.
• With an easy-to-access link to a third-party escrow service, both partners in a deal are protected.
• The buyer mails the payment to the escrow service, which verifies the payment and alerts the seller when everything checks out.

Verification

• One way of confirming the identity and evaluating the condition of an item is through verification.

If you have conducted internet purchase transactions and have used eBay, then we would also recommend that you review the information contained in the eBay Trust and Safety Centre at http://www.ebay.com/ concerning the use of payment services Western Union also provide guidance on consumer fraud awareness.