Forum Moderators: buckworks
I came across this:
>> In 2000, When I first encountered fraud on the web, I looked at sites selling high priced watches to see how dealt with the overriding issue of security. I found that there were mostly two kinds of sites selling Rolex watches: those that demanded wire transfers up front, and those that were out of business. :)
Selling such items on the internet is a fascinating task.
Still holds true? What do you think?
Habtom
If you deal out of your Country then it gets really tricky and the verification process is more costly and time consuming.
We sell inexpensive products that aren't popular with fraudsters, so I'm no expert on that important subject. Why don't you check out some watch/jewelry sellers and see how they handle things nowadays.
"International Orders:
We ship products worldwide via express, insured service. However, all orders from outside the United States or Canada must be paid by Wire Transfer....
We do not accept credit cards that are issued by banks outside the United States or Canada for mail, phone, or internet purchases, and
We will not ship credit card orders outside the United States or Canada."
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Some publicly owned commerce dot coms probably didn't give a damn about fraudulent orders during the stock market bubble. Their goal was to meet Wall Street's quarterly sales/earning estimates in order to keep the share price (stock options) juiced. Making money in retailing was unimportant. Collection problems could be buried in financial statement footnotes for a while.
In that way, Nigerian scammers and execs of failing Dot Coms had a mutually beneficial relationship. Nigerians got Rolexes and the execs got to ride in limousines a bit longer.
