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    Home > Prevent Online Fraud

    Prevent Online Fraud

    Tips for online trade

    DIYTrade is doing our best to maintain a quality marketplace to facilitate online trade. However, how to defend against online fraud is especially important for buyer and seller. The following tips are giving you a general guidance for safe online trading. Besides, you may also review the sites related to internet fraud.

    Know Your Trade Partner
    1. Verify Contact Information
      Be sure to verify contact information of potential partner before engaging in any business over the internet. Always confirm if the address, phone number and email address given to you by your trade partner belongs to the same company. Be suspicious of any trade partner who uses only an email address and mobile phone.
    2. Check the Credential of Trade Partner
      Check with the company's registry in the partner's country to ensure that the company is legitmate. You may get help from independent third-party source for background check of your trade partner, such as Dunn & Bradstreet ( www.dnb.com ), Huaxia International Credit Consulting Co. Ltd ( www.huaxiacredit.com ), Asian Company Profiles Ltd ( www.asiancredit.com ), etc. Unfortunately, few resources are available to verify the legitimacy of newly established companies. Therefore, please be especially careful when dealing with new company.
    3. Face to Face Contact
      Internet may provide extensive information on your potential partner, but there is no substitute for face to face contact. Therfore, meet your potential partner in person and visit the company's facilities if possible.
    Make a Clear Contract

    You should make a legally binding sales contract and keep it for the specified period to prevent argument. The contract should include sales conditions, payment method, arbitration clause, etc.

    Protect Yourself Against Payment Risk

    Letter of Credit (L/C) is the recommended payment method especially when you are doing business with a new trade partner.

    Avoid T/T payment: If you are a buyer, please avoid to make pre-payment to an oversea supplier. In most cases, a request for T/T payment involves attempted fraud. If you are a seller, please avoid to accept payment from an oversea buyer after they have received products. Once a buyer has received samples or products without payment, it is very difficult to get them back.

    Avoid Payment by Western Union: Many of the online fraudulent cases reported involve payment via Western Union. After a buyer sends payment, the receiver breaks contact and the party disappears. You cannot trace the real name of an account holder with a wiring service such as Western Union.

    Protect Yourself When Providing or Requesting Sample

    If you are a seller, it is always wise to ask for a nominal pre-payment for samples. Especially, when an unknown buyer requests samples while hinting at a large order.

    If you are a buyer, you better request samples to check the quality of product before committing to a significant order. Please be prepared to pay for it and also the shipping costs.

    Protect Yourself From Receiving Poor Quality of Product

    You can prevent for receiving poor quality of products by employ an inspection company for pre-shipment inspection. You can demand the inspection as a condition to payment.

    Be Cautious of Over Generous Offers

    Be cautious of trade partners who offer an especially high or low price. It is easy to be attracted by such offers, but they are often attempts to defraud.

    Report a fraud

    If you unfortunately be a victim of fraud or you suspect a DIYTrade member of fraud, you may do the following:
    1. Contact your trade parnter directly and try to resolve the situation.
    2. If you can't resolve it, we suggest that you inform the law enforcement authority.
    3. Also, you should report to us so that we can take immediate action against member's repeat offence. Please provide us the information of suspicious member includes company name, contact person, website & description of the fraud. All these information is important to us for taking prompt action against the fraud.

    To report a fraud, please click here.

    Internet fraud related sites

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