Things to take note to prevent e-auction fraud when a consumer participating in an e-auction.

According to the National Consumers League, all of the e-commerce activities conducted over the Internet, fraud is most prevalent and serious in e-auctions. There are many type of e-auction fraud around the Internet, such as Bit Shielding (use of phantom bidders to bid at a very high price when an auction begins), Shilling (placing false bids on auction items to artificially jack up the bidding price) and etc.

How to prevent e-action fraud when a consumer participating in an e-auction?

The following are antifraud measures for consumer participating to the e-auction.
1. Examine the insurance policy provide by the e-auction company. The function of Insurance is to protect the buyer, seller and service provides would not suffer any financial loss when conducting auction.
2. Some of the e-auction has provided authentication service. The product authentication is a way of determining whether an item is real and described appropriately. This service can increase the reality and validity of the product to make sure it is no come from illegal.
3. Escrow service is a service that protects the buyer and seller. This service is through the third party to make a double security protection. The buyer pays to the escrow service, which verifies the payment and alerts the seller when everything checks out. After that, the seller only ships the goods to the buyer. After am agree-upon inspection period the buyer notifies the service, which then sends a check to the seller.
4. An e-auction have provide for a physical inspection can eliminate many problem. This is especially true for collectors’ item.

Nowadays, fraud is very serious and difficult to prevent especially in the simulation world—Internet. When we participating the e-auction, we cant see the other face and dun know who are them, although it have many method for us to prevent, we still want to take care the process.

“Other that bank ATM card and bank debit card, still have other payment method can no need bring cash also let us done patty cash payment?”

Now, Touch ‘n Go have provide those service.

Normally, Touch ‘n Go are mainly be used at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and theme park.

In the mid of 2008, Touch ‘n go is expending their application and services towards the retail purchase, such as A&W, Burger King, Dunkin’ Donut, 7-eleven, Carrefour hypermarkets, Caltex convenience store and Cineleisure.

Touch ‘n Go, bank ATM card and Debit card are let user can continue using the card as long as it is pre-loaded with electronic cash or saving account, but Touch ‘n Go is more popular and easy use than the other card. The reason is it no age limitation for using this card and no other extra charge for the card owner to the retail purchase. Nowadays, who is able pay the RM 10 to buy the Touch ‘n Go card, he or she is able to use the service. Beside that, when the spending in the retail shop which have an agreement with the Touch ‘n Go, it will be no extra charges including.

Touch ‘n Go expand their business model is create a competitive advantage. In the previous year, it already becomes only one card payment tool in Toll and public transports. Now it is expend their service to retail, it will attract many people to use it in the future.