Things to take note to prevent E-auction fraud when a consumer is participating in an E-auction

As more and more people using the Internet to do their regular shopping and online banking, therefore the incident of Internet fraud increases.

In order for consumer in preventing E-auction fraud there are few thing that they may want to take note on (these note provided is base on the effort done by eBay in order to reduce fraud) such as,

· User identity verification is a voluntary program encourages users to supply eBay with information for online verification to qualifies them for highest level of verification
· Authentication service is to determines whether an item is genuine and described appropriately
· Grading services is to determines physical condition of an item or the goods
· Feedback forum is provides for the users with ability to comment on their experiences with other individuals
· Insurance policy is offers by eBay underwritten by Lloyd’s of London at no cost to eBay users
· Escrow services is items valued at more than $200, eBay recommends escrow services (for a fee)
· Non-payment punishment is for the 1st-time nonpayment warning, 4th offense is cause for suspension from auction
· Appraisal services is use a variety of methods to appraise items
~Assessment of authenticity and condition
~Review of what comparable items have sold for in recent months
· Verifications is a way of confirming the identity and evaluating the condition of an item


From more information on step or ways in preventing E-auction fraud you can visit,

http://wps.prenhall.com/wps/media/objects/260/267260/online_appendices/Turban-Appendix2A.pdf

http://www.spamlaws.com/internet-auction-fraud.html