Category Archives: Business

Mobile payment under fierce battle lines

Had gone to 2014, at the occasion of the New Year festival, the first of Lu Ye wishes you a small partner in 2014 in good health and good luck.

In fact, in the last days of December 2013, the Lu Ye has been thinking about the Internet in which direction the financial industry will develop this year, but suffers busy with other things, not to use words to show in front of you. Here, Lu Ye on the Internet in 2014 to predict the financial sector following aspects:

First, the introduction of Internet banking regulatory policy

Because of the closed nature of China’s financial system , before this , the banking sector is one of the few traditional industries is not affected by the Internet , or 0.35% of the bank to demand of 3.5 percent a year , such as low-cost access to capital , and then to 6 percent of the loan lending interest rates go , earning deposits and loans spread , with natural state credit guarantee , banks earn huge profits , only ICBC net profit for the first half of 2013 amounted to 138.5 billion yuan , the profits and gains even more than half of the entire Chinese Internet companies also great. However, the big banks on loans to consider only state-owned large enterprises, small and medium micro enterprises are often unable to get loans to these companies add a shadow in development.

After the introduction of innovative Alipay balance treasure , Internet banking concept turned out , P2P lending platform network mushroomed birth , P2P platform enterprise projects mostly based on the entire network to raise funds on the platform , which eased to some extent, some cash flow problems encountered in the process of enterprise development , but the field of P2P illegal fund-raising , foot scandals market newspapers.

In fact , in 2013 the policy level , the central bank ‘s supervision of financial research on the internet has never relaxed , Liu Shiyu , vice president for research into several Internet financial firms , recently more outgoing full-time vice president of the China Banking Association published a signed article Ping Yang again , bluntly, ” Internet banking is no longer naked” , Internet Finance Committee set up in early December is the basis for the regulatory rules promulgated and bedding .

Therefore, Lu Ye believe that the Internet will be on the right track financial regulation , and even reason to believe that the “two sessions ” on behalf of the financial and members will not ignore the Internet in March “to see the possibility of the two sessions of Internet financial proposal is great, the internet financial regulation may be put on the national strategy.

Two , P2P networks will be industry consolidation loans

2013, P2P networks to raise loans to the public network headed off a collapse of the wave, Paolu common occurrences, October is peaked. Lu Ye think all levels of society to adapt Darwin’s theory of evolution , natural selection , survival of the fittest , P2P industry self- purification, elimination of poor risk control business is inevitable , of course, some people holding flowers small cost and then choose the foot dry P2P bound be severely punished by law.

Like 2011 hot buys, buy site in 2013 only U.S. groups, handle, rice, several. 2014 , P2P net loan will be fierce competition in the industry , industry consolidation , either to get capital investment , or take refuge in BAT , etc. For the first choice , it would appear favorable network, which has gained the love P2P network investment credit capital investment the upper hand , the other P2P must continue to oh.

Inter Or, choose the powerful combination of the industry, resource restructuring. Lu Ye predicted that 2014 will be Tuomohengfei credit P2P networks, may one day prior to the acquisition of the rumor, the next day it announced the acquisition of investments or acquisitions, anything is possible.

Third, Paypal wallet and micro-channel payment under fierce battle line

After the August 2013 launch of the micro-channel pay, on the next line during intense promotion, in the north of Guangzhou-Shenzhen and other cities already enjoy convenient micro-channel payments. When micro-channel payment gaining momentum in October, Alipay announced wallet to pay in person, in November announced an independent brand, and then cooperate with intime, the United States should be good, fast taxi, and actively layout of the line.

Micro- payment under the letter is with the top grade discount, 7-Eleven convenience stores in Guangzhou and other cooperation layout line, pays on -line micro-channel cooperation with millet, millet 3 launch specials, it is believed to stimulate micro- payment account number. In the micro-channel pay launched 100 days, the number of users reached 20 million, while the number of paypal users exceeded 100 million purse marks are spent three years.

2014 , Paypal wallet and micro-channel pay expand ” battle” will be online next , this is a war of no smoke , after six months of gestation in 2013 , 2014 will be a watershed for both sides , who seize the initiative, will initiative in the market accounted for the huge market potential the line , Lu Ye believed to Alipay payment wallet and micro-channel , this will be a protracted war .

Chen guangbiao to the acquisition, “the New York Times.”

” Recently, I’ll go to America to do three things, the first thing is to go to negotiate the acquisition of ” New York Times “.” Philanthropist, China Huangpu Recycling Resources Co., Ltd. Chen cursor go, words and deeds will be people attention.

Tonight ( December 30 ) , he appeared in the 4th floor , Luohu District, Shenzhen Peng Hotel conference hall , attended the ” overseas Chinese media Cooperation Organization” and co- organized by the Hong Kong Wen Wei Po , ” 2013 China International Media Awards ” live in obtaining after the “Success Stories ” title , he does so his acceptance speech .

Referred to the acquisition, ” the New York Times,” the audience laughing, ” put the satellite is to it.”

The night of December 24 , Chen cursor spent a Dongfeng truck to a vehicle, a total of 16 tons one hundred yuan in Nanjing makeshift open-air several meters high red account “assemble ” a three-sided ” wall of money ” and a “money table,” the ” studio ” , site promotional economic Census .

Network again in an uproar.

As for tonight, he again stunned the world, the acquisition of ” New York Times “, drew a stunned audience, guests and media, some even laughing: “? ! Put the satellite put too much of it,” Reporters micro-channel circle of friends was also questioned, “Standard brother, then you also believe that? ”

According to news media reports, Chen cursor and the ” New York Times” from August 2012 , Chen cursor spend about thirty thousand U.S. dollars in the ” New York Times ” published a half-page ad , declaring the Diaoyu Islands are Chinese territory ; August 5 this year , Chen ‘s son Chen cursor environment in the ” New York Times ” advertisements declared sovereignty over the Diaoyu Islands again ; August 11 , Chen cursor again in the ” New York Times ” published a half -page advertisement , calling Japanese Prime Minister Shinzo Abe not to visit Yasukuni Shrine .

Public information, ” New York Times ” (The NewYork Times) sometimes referred to as the ” Times ” (The Times). the New York Daily News is a publication of the issue in the world, has considerable influence on behalf of senior U.S. Newspapers / serious publications, has long been a good credibility and authority.

During the meeting, Chen cursor in an interview with reporters to ” buy” the New York Times, ” ” did not elaborate on the issue, said only ” under negotiation.” After the rush to leave, left a business card and then did not answer reporters Chen cursor phone, nor the reporter consulted about the acquisition, ” New York Times” SMS reply.

” Died in the wealthy, is a disgrace.”

In an interview with reporters, his hand on how to fulfill the social responsibility of Chinese entrepreneurs eloquent.

He said he has three levels of awareness of the social responsibility of Chinese entrepreneurs , one company responsible for the people , for the people to produce safe , reliable products , not swindling , not pollute the environment ; Second, entrepreneurs have to make their own may solve some multi- service employment, pay more taxes, not tax evasion ; three is the same as standard brother voluntarily and consciously put out of pocket a percentage of net out to do some ecological and environmental protection , helping the poor thing do some positive energy work.

“As an entrepreneur, as the Comrade Xiaoping said, the first money to help the rich, for our society, we should make some contribution.” Cursor Chen said, “Fortune water, you have to drink a glass of water, you there is a bucket of water, you can put yourself at home when you have a river, you have to learn to share with others. ”

” As the saying goes, money as dirt, students do not bring refuses to take life live on in respect of the philanthropist, died lonely than a single book on the miser glorious, great.” Chen cursor said he also cited the United States ” steel king” Carnegie famously said. ” died in the wealthy, is a disgrace.”

Top 10 vps in china

According to CNNIC releaseed tomorrow,Chinese top 10 vps provider 2013:


We are proud to be 1st rank from CNNIC. Our main business includes:Domain name, Dedicated server, web hosting, vps, cloud computering and so on. our domestic market has been widely praised. So Corporation decided to open overseas operations, for the majority of overseas customers with more excellent service and determination.


China Wan is a Chinese veteran of the domain name and web hosting services provider in the launch of new products and technology aspects of action is also faster. Million net also has a very comprehensive set of network and application technology services domestic domain , its ” buy network ” is also information providers and information dissemination domestic markets occupy a certain position. In actual use, the overall speed in general, but a good stability of the host , such as a problem solving customer service attitude is very good, the biggest drawback is the price relatively expensive , but components and some other services require an additional fee .And they also extended overseas business.

Western Data Center

Western Telecom data center is one of the four major data centers belonging to telecom operators, network resources are abundant , the host’s stability and speed have reliable protection for large enterprise users.but no they do not start overseas.

Shanghai ChinaNetCenter

Editorial: Shanghai ChinaNetCenter provides host hosting leased line access services such as IDC , has a self-built computer room and a lot of bandwidth , covering the whole country, Shanghai is the core of the IDC operators .

Century Internet

Editorial: Century Internet is the early start of large-scale network infrastructure service provider IDC , China’s first generation of Internet technology business, and now has grown to become the major cities in the country with branches and has a lot of room and bandwidth resources IDC supplier.

263 Data Center

Comment: 263 have their own data centers , located in Beijing, Guangzhou , and Shanghai , and the ICP, ISP, IDC strung together to form a service provider IDC , IDC user ( traditional enterprises ,. Com companies, etc. ) and end customers interactive , network rich in resources, the appropriate network services are more abundant.

Western Digital

Review : Western Digital is the leading virtual machine operators, telecom in Mianyang , Chengdu China Netcom , Chengdu Railway , Zheng Zhou multi-line , multi-line Beijing , Shanghai and other cities core multi-line IDC room has a separate cabinet , while providing U.S. Hong Kong server rental server and network resources are rich Sichuan region ‘s leading IDC operators .


Editorial: Xinwanghulian Qualification quite complete, is the China Internet Network Information Center authorized by China ‘s top domain registrar, is by ” Ministry of Information Industry ,” approved by an independent qualified domain name registry services , holding by the Beijing Communications Management Board approved the authorization of Internet operators certificate and so on. Push his company to have some new capabilities , pioneered managed website can use the phone service and other new services.

Beijing Internet

Editorial: Beijing Internet advantage is we have branches in the main area , such as Tianjin , Beijing , Shanghai , Suzhou, Chengdu , Guangzhou, Dongguan and Shenzhen , With this advantage for the fifth customers can provide direct network service .


Comment: the resources in Beijing , Shanghai , Suzhou, Hangzhou , Fuzhou, Guangzhou , with branch offices , as a large IDC operators , hosts more stable, speed is good , the price is more expensive, suitable for medium-sized enterprises.

6 Ways To Get Traffic To Your Site

Building a website is so easy, you can get some hosting, load up WordPress, start writing content and post it up. It can be the world’s best website on any topic you want. And it won’t mean a thing at all unless you get TRAFFIC.

I have started plenty of sites in the last few years, on a lot of different topics. Getting traffic to them has always been the difficult thing. But there is one thing that will get it ranking, BACKLINKS. The number of BACKLINKS is one indication of the popularity or importance of that website or page (for example, this is used by Google and other directory sites to determine the PageRank of a webpage).

Hey don’t get me wrong, its not the only thing that matters, on-site SEO, Keyword research, it goes without saying that great content / or service should be the corner stone of your website, Niche / Authority or otherwise. Generating great content will drastically help you, it provides a visitor the reason to visit, to interact on your site and they will come back if its good content.

Look it’s all part of it, but BACKLINKS can be the difference between success and failure of your site. Here are 6 of the ways, I go about building BACKLINKS :

1. Social networking

I personally hate social networking, I mean I am old school and enjoy interacting on a personal level. But it is absolutely necessary to build a social profile for your websites. Facebook, and Twitter are the minimum you should be on. But there are over 200 well known social networking sites out there.

2. Bookmarking

Bookmarking sites are a little different from social networking sites like Facebook or Twitter, its basically when you decide to keep a Web page to look at later, you’re doing something called “bookmarking”. Bookmarks are simply links to sites that you visit frequently or want to keep handy for reference. You can bookmark them locally on your computer or a In a social bookmarking site. If you want to access your collection from anywhere and share them with others, sites like Delicious.

3. Article Marketing

Are sites where once you write your article you can submit to them, usually with a bio and link back to you site.

4. Web 2.0

This is where things get interesting, you basically go to another site like Tumblr, and create a blog related to your niche website content, then link back to your original site.

5. Wiki sites

A Wiki is basically a Content Management System. To understand a wiki, you must understand the idea of a content management system. As complicated as the name might sound, content management systems, sometimes referred to by their initials (CMS), are really quite a simple concept, you essentially load your site up to them, and it provides a link back to your site.

6. Directory submissions

Submitting to directories is a great way to build links and increase your search engine rankings. In semi-competitive industries it can produce great results. If you add article creation and social media marketing into the link building equation then you can achieve great results for any niche you are targeting.

Now, all of that might sound pretty overwhelming, and it can be trust me. Manual link building is great but if you are lets say you are trying to get ranking on a website, that is pretty competitive, you might need to build 1500 back links, well doing that manually can take forever, but there are programs that you can use, like Ultimate Demon, that can seriously speed up that process.

Where there is no work, there is no dignity

CAGLIARI, Sardinia — Pope Francis denounced what he called big business’s idolatry of money as he traveled Sunday to one of Italy’s poorest regions to offer hope to the unemployed and entrepreneurs struggling to hang on.

“Where there is no work, there is no dignity,” he said.

Francis left aside his prepared remarks and spoke off the cuff to thousands of people in Sardinia’s capital, telling them he knew well what it was like to suffer from financial crisis. He recalled that his Italian parents, who immigrated to Argentina before he was born, spoke about it often at home.

“My young father went to Argentina full of illusions of making it in America,” a somber Francis told the crowd at the start of a daylong visit to the island. “And he suffered the terrible crisis of the 1930s. They lost everything. There was no work.”

He said it’s easy for a priest to come and tell the poor to have courage, but that he really meant it. Amid shouts of “Lavoro! Lavoro!” (Work! Work!), Francis called for a dignified work for all.

Sardinia, known for its pristine beaches and swank vacation homes, has been particularly hard-hit by Italy’s economic crisis, with businesses closing and more and more of the island’s families forced to seek charity. The island’s desperation made headlines last year when a coal miner, participating in an underground sit-in to protest the planned closure of the mine, slashed his wrists on television.

Unemployment in Italy is at 12 percent, with youth unemployment a staggering 39.5 percent. In Sardinia and the rest of Italy’s south and islands, the figures are even worse: Unemployment is nearing 20 percent, with youth unemployment at 50 percent.

Francis told the Sardinians, some of whom wore hardhats from their defunct factory jobs, that the economic problems were the result of a global economic system “that has at its center an idol called money.”

Francis has made reaching out to the poor and most marginal the priority of his pontificate. This is only his second visit to an Italian city outside Rome; the first was to the isolated island of Lampedusa, where thousands of migrants come ashore each year.

Francis noted the similarity, saying both islands were places of immense suffering but also hope.

“It’s easy to say `don’t lose hope,'” he said. “But to all of you who have work, and to those who don’t, let me tell you: Don’t let yourselves be robbed of hope.”

Later, Francis celebrated Mass in the piazza outside the Sanctuary of Our Lady of Bonaria, the island’s patron and namesake of Francis’ native Buenos Aires. The pope is particularly devoted to the Madonna and wanted to make a pilgrimage to the shrine.

After Mass, Francis met with the poor and some prisoners in the capital’s cathedral, delivered a speech at the island’s Catholic university and gave an off-the-cuff pep rally to young Sardinians gathered in a main square before returning to Rome.

He shared a personal detail with the kids, that Saturday had marked the 60th anniversary when he first felt the call to be a priest.

“In all these years that have passed, I’ve had some successes, joys, but also years of failure, fragility and sin,” he said. “Sixty years on the path of the Lord.”

In a sign that the exhausting day was starting to take its toll, Francis inadvertently slipped into his native Spanish in his final public remarks in Sardinia, which like many of Italy’s regions has its own dialect.

“Hah,” he chuckled. “Even I’m speaking dialect here.”

Marketing in China: Twenty Years On

I have lived in China since 1994 and in Shanghai since 1998. When people hear this, the most common reaction is, “You must have seen huge changes.” I respond, “Perhaps not quite as much as you might expect.” Lifestyles, even attitudes, of Mainland Chinese have evolved dramatically. However, the country’s cultural and commercial dynamics, once and forever inextricable, remain quintessentially Chinese. So, too, does the communications industry.

When I arrived, China’s marketing seas were, yes, primordial. Media prices were cheap. Total spending was approximately $5 billion. Although agencies have never suffered from excessively burdensome government regulation (advertising has never been considered a “strategic” industry), we could not operate without a local joint venture partner. Executive power struggles were endemic, with the Chinese usually focused on fast cash and Westerners hoping to adopt a more long-term focus. Creative was, of course, exclusively mass media or quick and dirty “below-the-line,” and the vast majority of ads were adapted from overseas, often to off-putting effect. As a result, the mainland was terra incognita for the vast majority of aspirating creative talent and business leaders. Marketing as a discipline barely existed.

It goes without saying that, across several variables, the nation has emerged. Its people are significant consumers of goods produced by multinational enterprises domestic companies alike. Deng Xiaoping imperial proclamation that “To get rich is glorious!” was made only in 1992, three years after the Tiananmen Square “incident” as a sign that the People’s Republic was open for business. Since then, China’s middle class, negligible until after the turn of the 21st century, has achieved scaled mass, and now counts approximately 250 million individuals. In category after category, from cars and mobile phones to luxury goods and travel, mainlanders are the world’s most avid consumers. Their impact on everything from product design to global marketing strategy is a fact of life and will continue to grow.

On the Client Side: Competent Marketers

As a result, market entrants finally do homework before landing here. Corporate (and agency) marketing structures have been internationalized. Fewer foreign companies make egregious errors. Most realize global brands must be brought into alignment with a Chinese — a Confucian — worldview. Back in 2000, eBay crashed and burned because it assumed the “thrill of the auction,” a distinctly American individualistic position, would drive consumers to e-commerce sites. In the process, they neglected the importance of dramatizing product range and on-line security reassurance. In 2006, Best Buy entered the PRC and quickly failed. Its model of high-end in-store service and premium prices was flat wrong for China, perhaps the most price sensitive market in the world, particularly for goods consumed in home. Today, retailers such as Uniqlo, Zara and H&M are all making profits. Quintessentially “Western” brands such as Starbucks, Haagen Dazs and Nike have succeeded by bringing their products into alignment with Chinese cultural imperatives.

There are fewer big misfires to report.

The country’s marketing landscape has experienced sweeping transformation. China’s digital big bang has been jaw dropping. The country now boasts 600 million internet users and 300 million subscribers to WeChat, an innovative group text and video service. E-commerce has upended the power balance between retailers and consumers, particularly in lower-tier cities where bricks and mortar alternatives are less prevalent.

On the Agency Side: International Practices

The communications industry has also been evolved dramatically.

• Local partners are no longer de rigeur, although the Communist government still imposes random restrictions within selective categories (for example, luxury billboards due to political sensitivities).

• Any agency without a digital creative capability — at JWT, we call it our digital “heartbeat” — struggles for relevance. I sometimes joke that we are no longer advertising people. Instead, we engineer media-neutral, idea-centric participation platforms…

• Local companies now constitute major revenue sources for successful global agencies. Shops such as Wieden & Kennedy who neglect the growing importance of domestic clients remain also-rans or niche operations.

• Diversified revenue streams have multiplied. JWT’s field marketing operation, Always, contributes more to both revenue and profit than any of its creative agencies. The ability to “manage scale” is a uniquely Chinese competitive advantage.

• China has begun to sparkle at creative award show with a few agencies bringing home gold. In 2011, JWT Shanghai won the mainland’s first Grand Prix at Cannes for Samsonite.

• Despite the flight of young television viewers to cyber space, media costs have exploded, in both absolute and cost per thousand terms. This is due to both excessive demand and the monopolistic nature of media sales. As a result, the biggest challenge new marketers face is generating enough awareness to get out of the starting gate. For small and medium-sized consumer goods companies — entities without pockets deep enough to afford massive media investment — it may be too late to enter China.

A Long Road to Rome

On the other hand, the Chinese communications industry has, in many ways, resisted change and, across several dimensions remains operationally challenging.

Talent crisis.
 The fact that foreigners — including expatriate Chinese from Hong Kong, Taiwan, Malaysia and Singapore — are still reasonably represented at the higher levels of the industry is a disappointment. Of course, there will always be a need for individuals with an international outlook for clients with operations outside of the mainland. But advertising, as an industry, has had difficulty in developing senior local talent. It’s neither a question of salary nor a lack of intent on the part of agencies. The biggest challenge is that advertising is not fundamentally respected as a career path for many locals. An adman’s key strength is the ability to articulate the abstract and lead clients to embrace what can’t be proven. The approach is largely conceptual and this doesn’t appeal to many Chinese who tend to take refuge in the concrete. There are too many talented 35-year-olds who abandon the industry for a more “respectable” career. The ones who stick with it, the ones who have the capacity to inspire, are worth their weight in gold.

Vicious price competition. There have always been, and still are, too many agencies – more than 100,000 of all shapes and sizes. This surfeit leads to cutthroat competition, low fees and plummeting profits. Client relationships with advertising “agents” are a promiscuous series of affairs in which short-term contracts are awarded to the cheapest bidder. In fifteen years, I haven’t seen a single local advertising agency become a viable competitor to multinational shops — even though most multinationals are hobbled by underinvestment and a talent shortage. Local agencies have not evolved to address the long-term brand building needs of large corporations, multinational or domestic. Their limitations are common to many industries in China, both manufacturing and services. There has been a chronic underinvestment in mid- and senior-level managers capable of abstract conceptualization, leaders who have the courage to challenge clients. For every million dollars in revenue, there are usually forty to fifty employees, compared with fifteen in international shops, which means competitive strength is a question of quick turn-around and low-price. Relationships with clients are reactive, not strategic, and most profit is derived from media kickbacks.

Misleading size. The “real” China advertising market, now the second largest in the world after the United States, still isn’t as large as reports suggest. Official figures highlight an ad spend well above $140 billion, but the figure is grossly inflated because all advertisers enjoy hefty discounts, anywhere from twenty-five percent to seventy percent off book rates. Furthermore, the accessible client base — local and multinational companies that will pay a premium to achieve deep brand equity — accounts for no more than thirty percent of industry revenue. Although this market accounts for an increasingly large slice of the pie (and is served exclusively by multinational agencies), the potential of China is still relatively low by Western standards, and will remain so for years to come.

Shallow Chinese brands. Any market’s potential ultimately hinges on the strength of its local brands, but the majority of state-owned enterprises are not structured to build equity. Mainland consumers actively prefer few Chinese labels. Most are are regarded as, at best, “reliable” commodities. This is because: senior management is not market-driven and politically tethered corporate governance does not reward long-term shareholder growth; hierarchy impedes the flow of ideas between market-savvy young guns and CEOs, most of them imperial, self-protective Communist Party apparatchiks; marketing is subordinate to sales — the latter controls budgets, while the former churns out promotional ads; and a lack of understanding of how to measure the success and depth of brands. The result? Local clients are still relatively unprofitable and difficult to manage, despite their importance to our revenue base.

Conservative creative. Our work has become more professional and, on occasion, award-worthy. The major players, both on agency and client sides, grasp the fundamentals of consumer motivations here. But we test ourselves into mediocrity, particularly for “mass” advertising that requires significant, and therefore risky, investment. There is much more adventurism in the digital realm but, unfortunately, most companies are still not structured to harness the power of technological revolution.

Sheer scale and dynamism makes China thrilling. But this is still a market for brave hearts.

What is online escrow scams

On the Internet you can buy almost any item according to your precise descriptions in terms of version, manufacturer, and colour – even for cars, motorcycles and appliances regardless of geographic location. Escrow sites have made a secure exercise of shopping for these types of big-ticket items, because they ensure payment and product delivery. But what happens when swindlers and felons lure unsuspecting consumers and suppliers into fabricated escrow sites to steal their personal financial information, money and products?

Lamentably, escrow fraud is a fact of life. Some duplicitous persons build fake escrow sites and then act as shoppers or merchants in order to swindle gullible people out of their money or merchandise. When an escrow poseur pretends to be a vendor, he advertises a product for sale, and sweet-talks the shopper to deposit his money with the bogus escrow site – often telling him it’s for his own safety. The con gets the funds intended for the supplier, and the purchaser receives nothing in return.

When impersonating a consumer, the swindler trawls through auction and classified sites to locate an article he prefers and pretends to buy it. The scammer stands firm on using the fake escrow site, which advises the vendor that the shopper has remitted funds so the vendor ships the article. The scammer receives the goods and the supplier gets nothing in return.

How to identify and avoid fake escrow sites
Staying away from escrow fraud is really easy if you follow a few essential rules:
1. Be aware of several reputable and verified escrow sites before performing any transactions online
2. Beware of a consumer/seller adamant on using a specific escrow site you have never heard of (some use many sites to confuse cautious shoppers/vendors)
3. Beware of escrow sites that are badly designed, look inadequate, contain many spelling or grammar mistakes, and/or don’t furnish adequate information about proper use of the site or who runs it. Reliable escrow firms devote a lot of time and money to set up quality sites.
4. AVOID an escrow site whose URL (web address) doesn’t begin with “https://” – the “s” is important; it indicates a secure site with 128 bit encryption technology. An escrow site that’s not secure is most likely fraudulent.
5. Beware of escrow sites with suspiciously low escrow fees. Low escrow fees are sometimes used to entice people in.
6. DON’T remit funds using untraceable money wire firms, like Western Union or Money Gram.
7. DON’T send escrow funds to an individual or agent. Legitimate firms only have you entrust funds with a corporation that is authorised to handle escrow transactions.

What to do if you suspect an escrow site as fraudulent
Here are some tips to double-check whether an escrow site is legitimate:
1. Perform an internet search using the company name as keywords. If only the escrow site comes up, it’s probably an illegitimate site.
2. Look for the company’s domain name in a WHOIS database. If the domain was registered recently or the contact information cannot be confirmed, avoid the site.
3. Find out if the company is licensed and who the licensing authority is. Then look up the licensing authority and confirm the registration numbers provided. Make certain that the registration number refers exactly to the company. Double-check the licensing authority’s own site. If it shows any of the danger signs for fraudulent sites, assume that this site is fake – and so is the escrow company it authorised.
4. If an escrow site purports to be affiliated with Ebay, Yahoo! or a similar company, cross-check the relationship from the alleged affiliate.
5. Any escrow site that alleges to be affiliated with a larger, better-known escrow firm is probably not legitimate. Reputable escrow firms rarely operate in this way.

What to do if you fall victim to a fraudulent escrow site
If you have been defrauded by a illegitimate escrow site, you ought to report the site to authorities immediately and take action to protect yourself against identity theft.

In the United Kingdom, you can report Internet and escrow fraud to the Metropolitan Police

In the U.S., you can report fraud through your local police, the Secret Service, and/or the Internet Crime Complaint Center.

If the fraudulent transaction occurred in connection with Ebay, Yahoo!, Craig’s List or a similar site, you should report the incident to that company as well as the police.

You can also report the website to the company with which the website is hosted and ask them to close the website.

For reporting identity theft in the United Kingdom, visit the Metropolitan Police website.
In the U.S. report identity theft with Federal Trade Commission.

Staying on the safe side
The most effective way to stay away from an online escrow scam is to use a popular and reliable escrow firm, such as PayPrimo is a licensed and authorised escrow corporation with a reputation for reliability. The PayPrimo site is easy to use, has a variety of traceable payment options, and uses at least 128-bit encryption security for your protection.

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