Reducing Fraud by Trading More Safely

As an integral part of our daily lives, the Internet has brought too many changes to how we work, communicate and spend our free time. The phenomenon of B2B e-marketplaces is fairly new and still in its infancy. When we talk about online business, the level of risk-taking is always high, just like in B2B e-commerce, which has been hampered by many fraudulent activities. It is becoming increasingly important for B2B e-marketplace providers to understand how these e-marketplaces really work and how they add value. This raises the question of what preventive business measures should be taken to trade more safely. But while the use of proper preventive business measures is said to be very important, it is also argued that the rapid development in B2B e-commerce increases the level of uncertainty, which in turn makes the development of such preventive measures a real challenge. so we have to be more careful here.

Rather than posting comments/telling long stories as victims, we should focus more on the loopholes in terms of our business procedures/practices to cut off the very same trickery fanatics.

In order to find a reliable supplier, we need to filter out the most suitable companies dealing with our purchase products. It is important to know our requirements and communicate this to the suppliers in advance, some research on the company profiles, investments, locations and product lines should be done. We should also check their prestige or reputation on Google or some other search engines; In the meantime, email them asking for their business license to sell these products. The reason is just to make sure whether they are genuine products or not?

A reliable supplier would ask you for more details about the product before offering the price, including the description, specification, packaging condition, payment method, delivery time, etc. Since all these factors would affect the price, the price quotation is the most serious process and also the final transaction process. Going through this process allows you to feel and touch the suppliers and know how good they are. If the seller promises what you want, or the offered price is too low, most likely they are scammers. Just ignore and move on to the next one because there is a market price for each product or commodity and there is a fair margin for all parties involved. In doing business, we should not only seek the highest possible profit, but also consider other points that not only benefit us materially, but also make us wise in heart. Beware of extremely low prices that seem “too good to be true”. Check and compare the prices of the products we are looking for.

Besides all the above factors, the payment method really has immense importance; we should avoid doing business through WU. There are many reliable payment methods, in terms of safer payment, it is advisable to use 1st, 2nd Letter of Credit, 3rd Bank Wire Transfer or PayPal for payment as a priority, as opposed to WU.

Additionally, we need to ensure that our conversation is routed through the seller’s specific email id or other contact details with which they are registered on the relevant B2B web portal. When using free online messengers, it is a good idea to ensure that we are in contact with the actual and authorized representative of a particular company.

I wish you all the best of luck and more healthy and safe trading.

Thanks for your time.

Thanks to Imran Aslam Janjua | #Reducing #Fraud #Trading #Safely

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