The increasing popularity of B2B e-commerce have simplified online trading to a great extent, since you can source and purchase desirable products at the best available prices from a wide range of suppliers in the suitable B2B marketplace.
But there is a hurdle that may block buyers from using a B2B trading platform, that is the risk of getting cheated by fraudulent and fake suppliers. Since many online trading platforms have no specific and effective measures to completely prevent the risk, it’s hard for them to identify potential frauds with certainty.
However, as an online B2B buyer, you do have some basic ways to avoid being a victim of such fake suppliers. Even for business that a platform identifies as “safe”, you can still verify if it is really credible using the following tips from JumoreGlobal.
1. Care about their online assets
Analyzing a company’s online assets is often the first step to verify its credibility. Online assets include the company’s website, blog, social media profiles and other online presences.
If a company does not have a website, it may be too risky for you to do business with. If they do have a website, you can use mainstream search engines like Google to verify the address shown on their contact page. You can also call the phone number left on the page to confirm if they’re the exactly same company that you are approaching.
The social media profiles of a company can similarly provide you with a fair idea of its credibility.
2. Search Google and B2B forums
Another important place to know more about a supplier is Google search. Search with their company name to see any information, reviews or articles about them. Use the keywords like “Supplier’s company name + fraud/cheat”.
Similarly, you can try to find the answer on different online B2B forums where there are a number of buyers and suppliers registered. They may mention potential fraud suppliers and share their experiences with each other on those forums. Search for your supplier on such forums or create a new topic or a question to see if someone have known or heard of this company.
3. Ask them to provide customer examples
Fake suppliers won’t have genuine references from previous customers. One thing that features a fake supplier most is that it never shares any contact information of its previous customers and would always try to sidestep this using customer confidentiality as the excuse.
But even if a supplier does share client information with you, make sure you get multiple such contacts from different countries because the supplier may have a fraud fellow who acts as its past client.
Once you have a few of such contacts, get in touch with them and ask them about their experience with the supplier. It is helpful to ask them some technical questions about the product. If they are real and genuine references, they would know the technical details.
4. Verify their certifications
For every industry, there are certain quality baselines that are standardized and regulated through various certifications. If a supplier is genuine, it would have all the certifications necessary to sell its products.
In contrast, fake suppliers would hardly have any certifications. But even if they do send you certain certificates, check their authenticity and legitimacy from the certificate issuing authority. This step can help you identify fake suppliers easily in most cases.
What JumoreGlobal can do for you?
Finding a reliable supplier is one of the hardest and most important parts of making online business. JumoreGlobal aims at creating the safest B2B e-commerce platform for its users. Most companies on the platform are recommended by authoritative government agencies, and are certified by well-known third-party certification bodies in the world, so that the legality, conformity, and security of the companies and products on the platform are sufficiently guaranteed.