What is Internet Auction Scam?
Internet auction fraud accounts for roughly half of the reported Internet fraud cases. The most common auction frauds are failure to ship merchandise and failure to pay. There are instances that after successfully auctioning, scammer will then send fake Transfer Order which purporting to be originated from financial institution. This fake eMail usually confirming the approval of payment, and the transfer amount will be credited to the buyer’s account upon verification of shipment details. This urge buyer to ship the merchandise promptly, however, payment will never be received.
