Name - Navya Gala Class - SY BCom E Roll no. - 490
Topic - Factors leading to increase in fraudulent activities in online retailing sites.
Digital fraud is a problem everyone has been facing since the technologies have been introduced. The value of online financial frauds ballooned from Rs.2296 crore in 2022 to Rs.5574 crore in 2023. It has increased more than the double value in just one year. Like this the digital fraud is rising since a lot of years. There are many factors leading to increase. Firstly, in 2020, there was a chaos created globally because of Covid-19. The opportunistic hackers took advantage of this crisis and pulled some tactics like stealing stimulus checks and unemployment benefits, collecting payments for fake Covid-19 treatments and tricking people into donating to fraudulent charities, and there were more such frauds.
In 2021, there were many schemes which in turn were fraudulent and it was like buying goods online, paying the money via mobile and realizing that it was a fraud and goods were never delivered.
Like this there are many sites where shopping fraud is done. I would share a similar experience with you. There was a shopping site where I saw many great offers and was intrigued to buy some clothes. It had no option of COD (cash on delivery), so I had to pay via debit card. Then after some time I found out that this shopping website is a fraud and my Rs.1000 were gone.
So, I would just suggest everyone that first check if the online retailer shop website is legit or not and then always look for a cash on delivery option while payment. If it is not there then do not be fooled by these fraudulent websites.
such an insightful blog
Very interesting blog!
Very insightful
Very interesting blog about focusing on how to avoid digital frauds
Public awareness is crucial, thanks for highlighting such topics.