Internet Fraud-Scam … Dilemma of Multi Billion Dollar B2B Industry

Fraud happens in our daily life in various ways like if someone buff through your credit card or bank account information, or in some cases using your personal signature to access your bank account. But in real life these frauds can be caught and prevented easily.

But in world of Internet, the amount of scams happening over an hour is just uncountable. With increasing trend of worldwide online business, associated scam and fraud cases are also rising. Especially in online trade,key frauds are more than anywhere else on the internet. Defenders of the online trade come up with various reasons and logics to these scams. Among some famous reasons are that laws concerning the online fraud are very less and since every country has its own legal jurisdiction thus a person can go away after having massive proven fraud without any legal action just because he is operating from a different country.

Anyways, the matter of the fact that apart is that the pace at which online sales and purchase in increasing in similar pattern fraud cases are rising. Particularly that business like E-Commerce Stores, B2B, B2C and C2C suffered the most from these frauds.

The reason! Quite simple if you are someone who run an ordered for suppose an I-Pad from some supplier present at a B2B portal TradeKey. You view the profile on the TradeKey.com, view their statistics, contacted the supplier, negotiated with the buyer and get your deal done. Once you are done with the deal, and you came to find out that ordered I-pad are not which were promised or there is something else then you will say it a TradeKey fraud.

This is quite natural behavior because we don’t know the supplier directly but we know the resource from where we approached the supplier. Like when we buy something, from local store and in case of problem we went back to store and tell them to rectify the issue, buyer then contact the company and get your products replaced or compensate you and do not complain TradeKey fraud there.

In B2B world the process is not that simple, as in industrial and business transaction there are sets of legal practices which need to be followed in order to get the things rectified for you.

But for a B2B portal with clients from around the world getting the information about the credibility of particular client is quite difficult yet possible. TradeKey.com is one of the company which faces similar issues, and entertain people complaining about TradeKey frauds but in order to facilitate the issue Company has established a legal department and set of procedures to deal with such cases  where third party credibility check is done , brand profiling is checked and some other well authenticated methods are adopted as well.

After this system, if someone does not follow the precaution steps and then complain about TradeKey fraud then it is because he did not tried to save him from online scams.