“Prepare well before investing” is the golden rule of investment and it reminds us to do our homework and read up background information from corporate announcements and financial statements to get a fuller picture. Fact Checking is a buzzword which reminds us to verify the accuracy of information to avoid being misled by rumours, or worse still to join in and spread inaccurate information. In today’s information-overloaded era, it is important to note that you may not be getting the full picture, and fact checking becomes a must. However, what is a "fact"? And how should we “check” it?
Take for example with the novel coronavirus epidemic, a single post on the internet may be enough to trigger fear and irrational panic buying. All of a sudden, people are so intent on buying disinfectants, sterilizers, cleaning and healthcare products that they forget how to make well-informed decisions. Some of these products claim to have certain disinfectant functions, but can be quite costly.
The online marketplace has become flooded with of all kinds of Coronavirus-prevention products, giving opportunity for unscrupulous vendors to prey on unsuspecting buyers, That is why we should stay vigilant against online scams.
Beware of internet frauds
Shopping online is easy as you can just leave a "2 boxes, thanks" comment on a Facebook or IG post. However, it is just as easy to be a victim of online scams especially when transacting with unfamiliar parties.
Pick a reliable seller
A picture can say a thousand words – but you may also not be getting the full picture. Unscrupulous sellers can offer you something of a poorer quality or just take your money and vanish. Remember to check the credibility of a seller by looking into its operations, establishment date, number of followers and customer reviews.
Double check information before you pay
Always check your shipping information, such as your address and phone number, carefully before submitting an order. You should exercise extra caution before you pay.
Be wary of “great deals”
There’s no such thing as a free lunch. Stay alert. If you see a shop selling the same products everywhere but at much lower prices, be mindful of the authenticity of the products.
