With millions of dollars changing hands every few minutes,it is imperitave that everyone be more than aware of whom they are giving access to their banking and credit card information.The ways how to detect a scam im talking about particularly refer to those harvested on smaller b2b portals and Chinese goods web bazaars .Local online superstores like Bestbuy and Target are not what i plan on discussing here.These are single entity merchants,they do not sub host other traders and manufacturers under their brand umbrella. In the past year i have spent close to $12,000 meticulously over Taiwanese bulk second grade computer memory modules.Reading the B2B discussion forums of how many unsuspecting Americans have lost money to scams,made me scrounge around for the most trustworthy merchants to trade with.It took me 4 months before i even spent a single dollar on an online transaction.Remember that i spend much more than the average online shopper,with purchases of at least $5000 every few months.The million dollar question now, is why do Americans take the risk and buy products from Chinese/Taiwanese wholesale “bargain bazaars” as i call it, when quality and concern are questionable?If Apple,HP,Dell and a slew of giants megacorps can source goods and services from China,i think little guys like you and me definitely can.Most traders here, represent wholesale factories that offer a huge variety of goods of every kind at the best possible rates that no local online store can match.This can be extremely profitable for bulk buyers.These chinese markets can also have an abundance of fraudsters,here are a few sureshot ways how to detect a scam trader and save yourself a huge loss.
Any trader,manufacturer or merchant will have,or should have a self hosted website,and if they piggy back on a free host,that should give you an indication how small that trading company is.For someone that makes a living and does business over the internet,you would think the least they can have is their own website.Some of these free hosted websites also have an inbuilt template,with the same identical pages and script.I once came across 5 different websites with the same map and location!!An additional safety check would be if you retrieved the whois information of the website to check location details.
Remember the chinese are the shrewdest people in business.They didnt just become the biggest economy by farming rice,so when pretty chinese salesgirls decide to shower you with freebies and price cuts that put target to shame,that should grab your attention immediately.A practice that i always follow is to get quotations from as many traders as i can for a particular product.Some of the unbeleivable offers that are included in the quotation list are – buy 1000 pieces and get 2 laptops free or buy 500 pieces and get a 25% discount.These may seem genuine,since the its a bulk buy,but when you look at the rest of the quotations with similar pricing and not even a hairpin free,it makes you wonder.The most common type of scams are the quotations with ridiculously low prices.One look at the list makes you jump in joy.Its so attractive and luring,some gullible folks fall for it.When the rest of China is selling product A for $4.25 (MOQ 500 pieces) and then you come across fay hang offering it to you for $2.25.While shopping online, if its too good to be true,run far away.