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Online selling scam: Here’s how fraudsters can take your money when buying, selling products!

Scammers are aware of the fact that this time of year is a busy online selling season for consumers. Consequently, you should be vigilant!

Online Selling, Buying Scams

Both online sellers and consumers have benefited from the expansion of the digital marketplace. Entrepreneurs no longer face the prohibitive cost of brick-and-mortar storefronts and offices, and they can market and sell their products or services across the nation and the globe. With the click of a button, consumers can make purchases from the convenience of their homes.

The Better Business Bureau projects an increase of 87% in online business scams between 2015 and 2022. Some businesses accept payment for goods or services but fail to provide them. Others imitate the websites of legitimate businesses to deceive their customers.

Fraudsters Can Use Any Mobile Payment App

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Online Selling-Scam-Money-Buying-Products
Swindlers are aware of the fact that this time of year is a busy shopping season for consumers. Consequently, you should be vigilant.

Here are some precautions to take:

  • Be wary of buyers who offer you a higher price than your asking price.
  • Examine email addresses thoroughly. Double-check the email address if you believe you have received an email from a payment app. Scammers use phony email addresses that resemble legitimate ones.
  • Before using a payment app, familiarize yourself with its policies. Check the app’s official website or contact customer service to determine whether a business account is required to accept payments. Swindlers frequently invent phony policies to defraud their victims.
  • Keep in mind that results are the best evidence of credibility. Business owners will boast about their products and service, but this does not imply that they can deliver. Verify that the claims made are genuine and backed by evidence.
  • Carefully read your contract before signing it. Customers should carefully review agreements, confirm that the terms match what they agreed to, and inquire about anything that is unclear.

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