Internet Fraud: An Overview Of Classifications, Government Actions, And Consumer Protection

4025 words, 17 pages

Intro Sample...


Among the United States, nine percent of complaints were made against parties in California, seven percent against parties in New York, and six percent against parties in Florida. In terms of financial losses, the total loss in 2005 was $13,863,003 which was significantly higher than the $5,787,170 reported losses in 2004. Average individual losses also increased from $895 in 2004 to $1,917 in 2005. Overall, the number of scams reported rose by twelve percent from 2004 to 2005 for Internet fraud.
Internet Fraud Classifications
Fraudulent online auctions scams are those that typically offer high-end retail goods to customers via online auction houses, yet deliver nothing or counterfeit items to the customer who purchased the item. Most online auction sites specialize in person to person activity where individual sellers or small businesses sell their items directly to consumers. In these auctions the seller, not the site, has the merchandise and often the site will not take responsibility for any problems that may arise between buyers and sellers. On the other hand, general merchandise retail scams occur when fraudulent parties create fake websites, which look legitimate, and sell retail goods to customers but deliver nothing or counterfeited items upon purchase. Online auction scams and general merchandise scams were among the most frequently reported type of Internet fraud reported to the National Fraud Information Center Internet Fraud Watch. They reported that in 2005, forty-two percent of all Internet fraud complaints (not including identity theft complaints) were against online auctions and/or goods which where never delivered or misrepresented and another thirty percent of all Internet fraud complaints were against general merchandise retail schemes not through online auctions.
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