BLUFThe web allows companies to pretend to be something they are not—therefore worth checking that a company is genuine before you have any financial dealings with that company.
Australian Competition and Consumer Commission provides guidelines on how to check whether a company or business is genuine.
- Australian business names must be registered with the Australian Securities and Investments Commission (ASIC).
- You can also check an Australian Company Number (ACN).
- Individuals doing business will usually have an Australian Business Number (ABN)
- Check whether the business is a member of a business association.
- For smaller businesses, look for reviews online.
- Finally, always remember the saying caveat emptor, let the buyer beware.
Recent Runway Posts related to this topic:
- USAGOV: Common Scams and Frauds - The Runway (airforce.gov.au)
- The rise of predatory scams—and how to prevent them - The Runway (airforce.gov.au)
References from the Web :
- NOV 2021 5 Ways to Check if a Company Is Genuine - Linked-In
- FEB 2022 How to identify a genuine business (and avoid the dodgy ones) – Finder X