Stealing domain names on the rise

Countless domain names are bought and sold everyday. If you currently buy or are thinking about buying domain names with the intent of reselling them, for profit, you might want to be a bit more cautious when it comes to who you sell them to.

There are unscrupulous individuals who obtain domain names by purchasing them, using PayPal or a similar service, only to request a refund after the domain name has been transferred to them.

Unfortunately, it is next to impossible for the seller to re-gain possession of the domain. Why? The buyer has full control of this domain, after the transfer.

There is no law that forces him to return it, as requesting a refund from a payment service is legal. (Because a domain name is a non-tangible item.)

Large domain registrars make it a practice not to discuss fraudulent domain transfers, with anyone. Simply put, if you are authorized to transfer a domain, it is up to you to make an informed decision in regard to the buyer.

This post was not intended to discourage anyone from buying and selling domains. The majority of buyers are honest and are not out to get something for nothing. It’s just a reminder to use caution, in any type of business dealing.

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