More users fall for Internet scams each year. In the USA alone, there is an almost 30% growth in the monthly online scam cases that were filed by users during the first half of this year. These monthly scam incidents grew from more than 6000 cases in 2015 to over 8000 monthly incidents this 2016. Online shopping fraud makes up a significant part of these monthly cases in the USA.
Mobile users are now being targeted by criminal syndicates around the world for their latest Web scams. Some cyber security groups claim that by 2019, more than half of the world’s total mobile users will have fallen for online shopping fraud or other Internet scams at one time or another.
Millions of businesses around the world are also affected by the rapid growth of cyber fraud. Many online security groups in the USA predict a whopping 125% growth in card not present scams and online shopping fraud in the next 2 years from the $8 billion losses that were reported in 2014. This means around $19 billion of losses for businesses and online shoppers in the USA by 2018.
There are ways for you as a Web shopper to spot and safely avoid online shopping fraud this 2016. Here are quick and easy tips on how to do this:
Quick & Easy Tips to Avoid Online Shopping Fraud This 2016
- Don’t open suspicious messages from unknown sources. Phishing scams are designed to trick users into giving away their financial account information and online banking credentials. These are also used to trick users into unknowingly participating in online shopping fraud. Scammers send out deceptive messages with links that point to fake websites. These illegitimate sites look exactly like popular online shopping stores, Internet banking portals, Web mail platforms and social networks. Keep in mind that these deceptive messages can be sent from hacked accounts, which might be owned by your family and friends, so watch out.
- Install good security software products from reputable development companies. To avoid online shopping fraud, do this for the devices that you regularly use to purchase products and services on the Web.
- Avoid using cash remittance service providers, money ordering platforms and bitcoin sending portals when paying for products and services on the Web. Always pay for products and services on the Web using your credit card, debit card, Internet banking facility or online e-wallet account when possible. Most scammers get away with online shopping fraud when they trick users into using cash remittance and money ordering platforms to pay for fake products and services in their fraudulent Web stores. On the other hand, you’ll be able to file disputes and chargebacks with the assistance of your bank or financial institution when you use your credit card, debit card, Internet banking facility or e-wallet platform. This can often allow you to quickly and safely recover your money.
These are some of the quickest and easiest methods for avoiding online shopping fraud and Web scams this year. Inform your family and friends about these tips, so they can hopefully spot and avoid these online scams before getting drawn in.