How the Scam Works:
You receive an email addressed to the owner of your company. It appears to be from an Asian domain registration service. The email says that a third party company has requested to register your business's brand name as a website domain in China or elsewhere in Asia.
According to the email, the "domain registrar" realized your company owns that brand name. And they decided to do you a favor and offer to register the domain for you instead of this other company.
The catch? There is no competing business, and the price to purchase the domain is much higher than you would pay elsewhere. Often, the email sender isn't even an actual domain registration business. He/she simply purchases the domain elsewhere for a few dollars and immediately sells it back to the victim for an inflated price.
Tips for Avoiding Domain Name Scams:
Many businesses take a "buy it and forget it" approach to their webiste domain names, and scammers love to prey on that lack of knowledge. Here's a few tips for better managing this part of your business.
For More Information
To find out more about scams, check out BBB Scam Stopper.
This Scam Alert has been sponsored by Western Union.