How does eFencing work?

TipsMake.com - For many people, eBay.com online auction site is a great place to search for hard-to-find valuables. Any object you find is an old camera, no longer produced or an old collection of glasses, you have a chance to find the object on this page. Of course, this site is also a great address for both sellers. Anyone who wants to remove unused items, they can use this site to sell their products. This is true, ' One man's trash is another man's treasure ' - someone 's trash and trash is an important and rare item for others.

How does eFencing work? Picture 1

Online auction sites like eBay appear in many places, even others like Amazon.com have added auction features as part of services. The auction has become so popular that whenever people search for items on the Internet, most people search for auction sites to find what they want. With just a few clicks and mindful of the auction process, buyers will own the item they bid for within a week. In addition, classified websites like craigslist.com are even more convenient for online purchases.

However, along with the development and popularity of businesses, security issues also make them headache. Worrying about identity theft, account theft, phishing (online fraud) or buying broken products or bugs has become a problem for eBay. One of the biggest concerns for the bidder is to pay a large sum of money for an item that only receives bad products or even doesn't receive anything.

One of the other security issues that are troubling retailers is that some products are often on the market of unknown origin or due to theft, a crime known as eFencing. . So, what is eFencing? What is considered a fence?

What is eFencing?

If you think that eFencing involves online gaming communities, people who participate in online fighting games with swords, spears and shields are not right. In the world of criminal investigations, a fence - according to Merriam-Webster OnLine - means a thief and where this item is taken away. From fence, although there are many meanings, there is still a common meaning - defense.

From fence - in the sense that the fence is built around the house to prevent uninvited guests. In terms of theft and organized thieves, the fence word was first used in the slang of thieves in the 1700s, meaning 'under the defense of the secret'.

How does eFencing work? Picture 2

Therefore, the work of a fence is very simple: steal or buy an item at a low price and then sell the item at a higher price to make money. In the tangible world, this action often takes place in pawn shops or the black market. A fence man can steal things from a store and bring them to a pawn shop and earn a high profit with the stolen item.

EFencing's action is similar, except that it is made via the Internet, via auction sites like eBay, Craigslist. A thief steals from a store, publishes information about the product on the Internet and sells it to an auctioneer, making money from the process.

Although the fence is not something new in the retail world, the nature of the Internet has increased fence activities and made fake transactions easier. So, how do online sites face theft?

Online business of stolen products

The Internet, though not the only reason for the increase in scam trading, has made it easier to consume items of thieves in recent years. To understand this, you should compare and contrast highlighting the difference between a stealing consumer location like online pawn shops and fences like online auction sites.

How does eFencing work? Picture 3

Firstly, places of consumption of theft in life often have different differences. In order to get money from stolen goods from a pawn shop, this shop needs to be known. The thief will have to go to the shop himself to let the shipper see the item and verify it. As for eFence, on the contrary, they can trade on the Internet so this action can take place anywhere in the world.

More importantly, the ability to identify in eFence is very difficult or more accurate. While pawn shops need ID cards or even fingerprints, auction or sales people on eFence remain anonymous when dealing on the Internet. Moreover, online sales are really beneficial: online sellers will be paid 70% for goods sold online, much higher than for sale in real life.

In addition to the flip side of selling stolen goods, traders also have many other things when items are identified as stolen products. A thief manages an online store like Target or Best Buy, so once the owner decides to buy, expensive items can be discounted. After that, the owner will resell this item at a higher price.

So, companies both online and offline, what do they do to face eFencing? Can customers identify which items are unreliable? Are there any good signs or even know the origin of the product we are buying?

Identify trafficking online fraud

Based on the 2008 National Retail Industry Association data, 68% of vendors can identify stolen products that are sold by eFencing ( source: National Retail Federation ). Because this issue is increasing, some people suggest that there should be more effective measures to deal with theft and online fraud.

Some people believe that auction sites should have further protection as well as help out more against eFencing. Brad Brekke, vice president of Target Corp (the 5th largest retail and distribution company in the US) suggested a identity system on eBay Motors: all vehicles sold on eBay need to be The Vehicle Identification Number (VIN) is checked by Carfax company. This, according to Brekke, may help prevent theft of auto sales on eBay. This system is also applicable to iPods and stolen headsets. (source: Wholesale Central)

Some argue that retail stores should strengthen even more security measures to protect people from being stolen. Adding more cameras and better protection measures is an example to reduce theft.

One of the most frequently stolen and sold items is GPS devices, rechargeable batteries, and headphones. These are items that people usually buy everyday on auction sites.

There are some signs that you can investigate an item or something on an auction site like eBay. Sellers who are able to supply a large amount of a precious product produced during a certain period are often suspicious. This means that this seller may be part of an organized crime line that has robbed or stolen someone's belongings. Goods still sealed by the factory can still be part of the online fence, when retailers think that nearly 40% of new products are still in the online sale box is stolen (Source: National Retail Federation). Therefore, you should be careful before buying any item on online auction sites to avoid abstaining from theft for bad guys.