Q:

How do you avoid online business scams?

A:

Quick Answer

To avoid online business scams, do not give out financial information, never wire money to unknown people and verify the credibility of the online company in question. Also avoid making rash decisions when dealing with people online, as this may lead to financial losses, states OnGuardOnline.gov.

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Full Answer

To avoid online business scams, always keep personal information confident. Do not share contacts or passwords with anyone on the Internet. Any individual or company that asks about financial details should be blacklisted and if possible reported to a relevant authority, notes OnGuardOnline.gov. Authentic companies never ask about financial details or passwords.

Before engaging in any transactions online, verify the authenticity of the company in question. Websites such as Better Business Bureau provide helpful information regarding most authentic online businesses. Review websites also give users the opportunity to rate each business according to its performance. Use such resources when researching.

It is prudent to check online financial statements frequently. This makes it possible to review each transaction and avoid any potential losses. If any unusual activity is detected, contact the customer support immediately in order to initiate security measures that may prevent farther loss.

When presented with a seemingly low-risk and high-income investment opportunity, it is prudent to stay away from it. Such opportunities are usually scams.

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