How to detect fraudulent wholesalers and companies?

Recently there has been an influx of fraudulent wholesalers and dubious bulk discount stores on the net. This article focuses on how to identify these companies and what necessary checks must be made before investing in any business venture.

To detect whether the wholesaler or the company being examined is authentic or not, these controls must be considered.

- A professional website designed with a good layout is not an indicator that the company is genuine. A lot of wholesalers do not have great looking sites, but companies are registered and authentic. Never, ever be convinced by the design of the site.

- Ensure that the wholesaler accepts payments via credit / debit cards and other online payment methods like PayPal, Nochex etc. If the company will ask you to wire (BACS) money directly into their account then avoid trading with them, you are definitely scams . Card payments in most cases can be easily traced and charged back whereas with money transfers, once the funds have left your account, they are gone forever.

- Try to talk to a company representative on the phone, it's always nice to talk to someone and clear your doubts.

- Visit their contact page and look for their contact / postal address. Try to determine if it is a postal address or just a mailbox. If it's a mailbox, find out why the wholesaler does not have a postal address and where you actually trade from?

- Request to visit their store or business office, although there is no specific intent to do so. Any fraudulent company would be reluctant to let you visit their sites.

- Visit the Companies Database provided by government agencies such as the United Kingdom: http://www.companieshouse.gov.uk and use their search index to determine whether the company is registered with them or not. Individual entrepreneurs do not have to register and as a result of this would serve only as a secondary check but none the less will definitely help to clarify any doubts.

Performing these checks will definitely help distinguish a company from the scam legitimate wholesalers. After all, every business initiative involves a number of risks and seek professional help is always a better choice to make decisions based on instincts and feelings. For the creator of scams, one thing can be said: Fraud in protecting the terminals for its companions only repentance and shame.

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