Business Services Industry
Internet fraud cost Americans USD18m in 2001 claims survey
Internet Business News, April 11, 2002
INTERNET BUSINESS NEWS-(C)1995-2002 M2 COMMUNICATIONS LTD
Internet fraud cost almost 10,000 Americans a total of USD18m in 2001 according to a report published by the Internet Fraud Complaint Center (IFRC).
A total of 16,775 fraud cases were investigated by the IFRC, of which half were found to involve online auctions. Other cases included non-delivery of purchased merchandise or credit card fraud, according to the centre.
The median loss for all the victims was reportedly USD435 yet an e-mail scam that fooled users into thinking they were conducting business with the Nigerian Government obtained over USD5,000 per victim.
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