Copyright held by The John Cooke Fraud Report. Reprint rights are granted with attribution to The John Cooke Fraud Report with a link to this website.
Percentage-wise, it is the fastest growing form of fraud. The National Consumer League’s Internet Fraud Watch results for 1999 are in … up 38 percent from the 1998 figures. Consumers lost a total of over $3.2 million, with the average loss amount coming in at $580.
At the top of the charts were online auction fraud losses. While accounting for only 68 percent of total losses in 1998, the percentage rose to 87 percent in 1999. Lagging far behind in numbers, but still of great concern, were non-auction sales of general merchandise, internet
access services, computer equipment/software and work-at-home plans.
What does the NCL suggest to stem Internet fraud? The best answer, they say, is an urgent push for consumer education about shopping online.
Above all the basic red flag warning signal is the same on line as it is in any other form of fraud. “if it sounds too good to be true…it probably is.”
© 2000 John Cooke Fraud Report
Copyright held by The John Cooke Fraud Report. Reprint rights are granted with attribution to The John Cooke Fraud Report with a …
Copyright held by The John Cooke Fraud Report. Reprint rights are granted with attribution to The John Cooke Fraud Report with a …
Copyright held by The John Cooke Fraud Report. Reprint rights are granted with attribution to The John Cooke Fraud Report with a …