What is the Most Common Internet Related Fraud?
Many of us who use the Internet regularly may have our own suspicions over the most common form of Internet fraud, but according to the Federal Bureau of Investigation (FBI) and other watchdog organizations, the most reported incidents of Internet fraud involve the online auction trade. People who use online auction websites often report cases of fraud such as failure to deliver merchandise, misleading descriptions of products, and providing false or deceptive business contact information. Internet fraud involving online auction sales makes up at least 60% of all reports forwarded to the FBI and Better Business Bureau. Other forms of Internet fraud, such as the Nigerian scam or phishing for personal financial information, run a distant second and third compared to online auction fraud. Although auction websites take numerous steps to verify buyer and seller identities, these safeguards are not foolproof. A sophisticated website for a non-existent business can be created within days, an
