Do you know How to detect online Seller Fraud? I had received many email from online buyer who are frustrated with their online trading experience in Malaysia especially in Mudah.my and Facebook. Many of them told me that they find a high quality banknote/coins selling at a cheap price in Mudah.my. Many newbies buyer don't know that they're many scammer/fraudster out there who put their item at a cheap price as a bait. Most of them don't have the actual item (just a pictures that they found in Internet. Some even do counterfeit coin photo) and some of them will only send less valuable banknotes/coins to you.
How to detect Fraud online Seller:
1. If the price is too good to be true, try avoiding dealing with the seller. Unless he or she want to do Cash on Delivery (COD) with you. When you meet the seller, make sure you prepare your knowledge on how to check the genuine banknote/coin. If you want to start buying, I suggest you should learn the market price first. Buy a good books/Catalogue like Steven Tan Book or KN Boon Book. It is a must if you really serious in collecting coins and banknotes.
2. Do some investigation about the seller. Its hard to know if the seller is Genuine Mudah.my Dealers or fraudster since Mudah.my don't have any feedback system. Its a scammer heaven but a hell for buyer who had been cheated by them. You can try do some little investigation yourself to make sure if the seller is genuine or scammer:
i. Search his phone number or email+scam (or any words related) in Google. This will help you find any information about their details. If they had scam people before, their phone number will be pop-up in some websites/forums or blogs.
ii. After you confirm that you want to buy their item, seller normally will send you their name and Maybank account number, again, please Google and search for his account details in internet.
3. Asked in forum or join a Facebook groups that is related to your transaction if the seller is genuine or had been involving with fraud before. For Malaysia coin collecting, you can try this group pages Kedai Hantu Duit 2. Look for active pages or groups. Some groups or pages might had been stop active since their admin maybe had been busy.
4. If that seller are selling banknotes, try search the serial numbers of the notes in Google. Some of them just copy and using any pictures they can find online. If they're selling coins, it will be hard to trace but you can try search in Google the coins/sales title.
5. If you're newbies in online buying, always buy a cheaper banknote/coin first. Buying online is not like buying with your coin dealer in Amcorp mall. You cannot get hold of the item. What you see are only pictures.
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