The fraud problems that affect e-commerce

The fraud problems that affect e-commerce

Fraud has been one of the main e-commerce problems almost from the beginning of the first online transactions, and in recent years various companies affected by fraud have started to take some measures to combat it. type of cyber crimes that put the affected businesses in serious profitability problems.

Studies have revealed that e-commerce companies they typically lose about 5-7% of their earnings due to fraud. Of all the types of fraud that usually happen, return to origin (products that are returned to the seller) is one of the most common. It is known of some e-commerce sites that they had to close their sales because their percentage of return to origin was greater than 35% of all their products sold.

There are multiple return fraud cases to the seller, sometimes it is even due to market competitors who resort to unethical practices to bring down their competitors, making them lose money by saturating their returns logistics. Another common type of fraud is product duplication. A very curious case happened with Amazon in which a lady spent two years returning products to the seller after having replaced them with a cheap duplicate. If even Amazon can be a victim of this type of fraud, imagine what the smallest companies can become victims.

Other fraudulent attack type that can happen is that of hackers. It is not necessary to explain the exact nature of their procedures, however, they engage in techniques that make sellers believe that they have been sent the payment for the total price of the purchase, but really only a payment of 0.01% was sent of the total cost. By the time sellers realize this, the package has already been shipped and received by the recipient.


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