Online Shopping Fraud Is A Major Issue Or Risk When Shopping Online

2214 Words Nov 30th, 2014 9 Pages
Online Shopping Fraud

Brad Sutherland 100428350
& Bo Sun 100491949
November 19 2014
Fletcher Lu
BUSI2570U

Overview
Online shopping fraud is a major issue or risk when shopping online. Everyone can buy and sell almost anything over the internet these days. Online shopping makes searching for a product comfortable and easy because a customer can search the company’s website for the desired product from the comfort and privacy of their own home. However since there is no face to face interaction or the customer is not able to physically see or touch the item they have to trust the website they are shopping from. Online shopping fraud exists in many different ways. “Sellers may list a product for a much cheaper than normal price just so they can steal your payment card or personal information. They may also take your money and send you a worthless item, or sometimes, nothing at all.” (RCMP) Customers can easily be fooled a number of different ways while shopping online, they need to be aware of the potential ways and avoid them as best as possible.
Online shopping scams are becoming more regular in the online shopping world. “Retailers’ revenue lost to online fraud has increased over the past two years to reach an estimated $3.5 million, up 3% from $3.4 billion in 2011 and up $30% from $2.7 billion in 2010.” (Demery) Although these statistics are 2 years old they show that online shopping fraud has been a developing issue and these scams take a lot of…

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