Be aware when Bidding in On-Line Auctions

On-the-block and on-line.<br><br>Internet auctions are all the rage, but they are also a hotbed for cyber scams. On-line auction fraud is the fastest growing type of fraud around. <br><br>Federal authorities

Monday, February 14th 2000, 12:00 am

By: News On 6

On-the-block and on-line.

Internet auctions are all the rage, but they are also a hotbed for cyber scams. On-line auction fraud is the fastest growing type of fraud around.

Federal authorities have received over 10,000 reports of on-line auction fraud. Items purchased are web auctions are often never delivered. Items that are pitched as valuable collectibles are too often rip-offs.

You don't know who the seller is, where he is or whether the offered items even exist -- too often it does not.

Can E-bay and other sites protect you from crooks? In reality, no. The companies claim they're just hosting a "virtual flea market". They can't guarantee that every seller who shows up is legitimate.

And yet E-bay, buy.com and other companies realize they must do more to fight fraud. If not, Congress could move to tightly regulate the whole internet auction process.

Meanwhile, you don't have to bid auctions good bye, just buy smart.

Consumers need to know who they're dealing with and what they're buying. Pay with a credit card, because they provide the most consumer protection.

For more information on cyber auction rip-offs, you can contact the Federal Trade Commission at
http://www.ftc.gov