Fraud in Forum Based Trading | Ramblings of an e-trader

Friday, 10 April 2009

Fraud in Forum Based Trading

Recently, a Chinese daily highlighted a case where a victim lost some money in a fraud case in a forum transaction. I don't read Chinese so I am not able to get the gist of the story.

However, I would just like to point out that trading anywhere online, whether in a forum, marketplace, eCommerce store or via instant messengers and social network portals carries risk.

When I first started to shop online, a friend advised that if something is too good to be true, it probably IS too good. So walk away. Would you rather not be able to buy something cheap or to lose money? If the risk is too big, you are better off shopping locally.

Of course, if something is not available locally, and you have no choice but to shop online, then do some homework and make sure that the seller or store is reputable. Running a background check on the seller or store would provide you with peace of mind.

1 comments:

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