Auction Fraud Tops Them All

[MatrixWatch]

According to the National Fraud Information Center, Auction fraud topped the list for consumer complaints in 2002. Auction fraud tactics of all sorts are getting way out of hand. Any ideas on how to stop it?

Here is the article: http://www.nclnet.org/internetfraud02.htm

[MatrixWatch]

Here are the statistics to support that article.



source: http://www.fraud.org/2002intstats.htm

Internet Fraud Statistics
Total Loss Overall: $14,647,933

Average Loss: $468



2002 Top 10 Frauds

1. Online Auctions 90%

2. General Merchandise 5%

3. Nigerian Money Offers 4%

4. Computer Equip/Software .5%

5. Internet Access Services .4%

6. Work-at-Home Plans less than .1%

7. Information/Adult Services less than .1%

8. Travel/Vacations less than .1%

9. Advance Fee Loans less than .1%

10. Prizes/Sweepstakes less than .1%



Payment Methods Overall
Credit Card 34%
Money Order 30%
Check 14%
Debit Card 7%
Bank Debit 6%
Cashiers Check 3%
Cash 2%
Wire 1%
Other 3%



Initial Contact Overall
WWW 94%
Email 6%



Ages of Victims Overall
Under 20 3%
20-29 25%
30-39 28%
40-49 25%
50-59 14%
60-69 4%
70+ 1%

Locations of Companies

California 16%
New York 9%
Florida. 8%
Texas 6%
Outside U.S. or Canada 5%

Top Five Victim Locations

CA 13%
NY 7%
TX 6%
FL 5%
PA 4%

For more information, write or call or email the National Consumers League at 1701 K Street, NW, Suite 1200, Washington, D.C. 20006, (202) 835-3323, info@nclnet.org.

[Gasaraki]

Locations of Companies: CA (16%)
Top Victim Location: CA (13%)

One more reason to recall Gov. Davis? LOL.....
A friend of mine used to work for a credit card company.... you just wouldn't believe how much internet credit card frauds are going on in this state.

I'm really surprised to see that there are still that many people (4%) fell for the Nigerian Money Offers..... :rolleyes:

[Agent|Star]

Wowie thats interesting info...
I won an auction using Yahoos and the person was robbing everyone.. Problem is they us PayPal for the processor heheh we all got our refunds... Everyone made posts int he feedback area to give tips on what to do...

Online Auctions the biggest no wonder I know a lot of people that wont bother with eBay.. On the other hand eBay is doing nicely heheh. :cool: