Consumers today have multiple options ranging from online marketplaces to offline retail stores to purchase or sell pre-owned items at a brisk. The internet is undoubtedly one sizable unregulated marketplace with low entry barriers – benefiting consumers and empowering cyber fraudsters to con people. What are the things you should pay attention to when you’ve found a product you like to be aware of, the cyber fraudsters who pretend to be genuine buyers and sellers and try to tap into this insatiable demand?
Vet the buyer
Marketplace apps, including OLX and Quikr, provide inputs about the buyer’s credibility or seller on the platform. These platforms also warn you of a suspicious user as long as you keep the communication on the forum and display safety tips right in the app based on their fraud detection algorithms. Ask as many questions as you can. Also, do some background research on how to spot a fake. Find out as much as you can about the seller. Look up his contact details on Google and social media platforms. Ensure that his email id matches the one given on the selling site. Be careful if you are buying from someone with little or no buying/selling history.
Always be wary of sellers offering low prices. Do not queue up to buy the product immediately and exercise caution – if the selling price provided by a seller is substantially lower compared to other sellers of comparable products. Understand from the seller why the lower selling price and exercise discretion after eliminating the possibility of a malfunctioning device, counterfeit, or fraud.
Beware of UPI fraud
Scammers are tricking the users by sending a payment link on your mobile and employing a crafty yet straightforward trick to call along to keep you distracted on the phone and make you click on the shared link. Such UPI requests often swindle the money away from your bank account with a single click. So, never get swayed by such crafty yet straightforward tricks.
Familiarise yourself with the feedback and the terms & conditions of the marketplace app, primarily related to dispute resolution. So, in case of need, you can quickly raise a concern.
When the item is finalized, and you plan to ship it to your home, the crucial question that arises is whether it’s feasible to transport the item at affordable prices. If you have this in your mind, always look out for professional services that can help you ship the product without any hassles.