Sedo should learn from the TSA and restrict high-risk domainers from bidding

As I traveled by airplane during the change of the year, I could not but notice how the rules of the traveling game have become stricter. After the incident with the Nigerian terrorist who attempted to blow up a Delta Airlines plane bound for Detroit, there is no more room for mistakes.

TSA’s new set of regulations include enforcing restrictions of flying to high-risk individuals, tighter control of carry-on luggage and manual “frisking” of travelers. Despite the inconvenience caused by this detailed checking of human flow, the end result is higher security and flight safety for all air travelers.

Meanwhile, for the third time I’ve had a non-paying bidder at Sedo from a country in the Middle East.

Although Sedo supposedly collects information that verifies the identity of individuals and companies, it’s unacceptable that a pattern of non-paying bidders isn’t eliminated by enforcing similar rules to those observed by the TSA.

Sedo should restrict domain bidding by “domainers” that originate in countries with a high rate of fraud or non-payment. As a US-based corporation, there is little one can do with so-called “binding” contracts between US-based sellers and those outside Uncle Sam’s reach.

Prevention is better than sitting and wasting one’s time and locked down PPC revenue, all while waiting for the foreign prankster to unveil their lack of commitment to a business deal.

Comments

  1. I could not agree with you more. I would like to see Sedo secure a payment method by credit card or a deposit into escrow from bidders from high fraud countries and new bidders with an unestablished track record.

  2. I can’t help but agree.

    I’m sure some wouldn’t be happy with extra checks against them, but it’s worth the hassle for everyone.

  3. I also could not agree more. However, until the domain industry becomes more regulated this will be a reoccuring problem. Obvioulsy register’s are not forced or required to follow anti-money laundering rules pursuant to the patriot act otherwise a check against OFAC would be done on all bidder’s/sellers (www.treas.gov/ofac)which would preclude many of these “high-risk”
    individuals.

    Overall I guess you have to take the good with the bad, less regulation equals more opportunity, however, it also means more fraud.

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