Statistics Can Reduce Internet Fraud

Many online auction sites will help consumers pricing items that they may want to own. These sites include Web sites such as eBay, Web Store, ebid, OnlineAuction, OZtion, Overstock. Currently, there is no system to protect consumers from fraud. When someone bids on the project, consumers trust that the seller and online auction organizer are honest and ethical when presenting bid items. Many auction houses including Sotheby's and Christies will have their experts check each piece to prove their authenticity.

Internet fraud is a type of fraud that exploits the Internet. According to FBI 's 2017 Internet crime report, the total online loss victim caused by 2017 fraud exceeded $ 1.4 billion. Online fraud occurs in various ways. Email spam and online fraud are included. Even if Internet fraud is based in part on the use of Internet services and most or fully Internet based use. Crappers post cars that do not exist on the website, usually luxury cars and sports cars, and those advertisements are much lower than market prices. Vehicle details, including photos and explanations, are usually extracted from sites such as Craigslist, AutoTrader.com, Cars.com. The buyer who wants to negotiate, want to negotiate, send an e-mail to the con artist, they replied that the car is still available but is overseas. Or, the con artist will say that he is not in that country, but that car is a shipping company

The Internet market is exposed to various fraudulent acts including counterfeit goods, credit card fraud and so on. According to statistics of the Internet Crime Complaints Center, the average loss per complaint is about 931 dollars. Approximately 64% of losses are recorded as auction fraud and it is defined that the explanation of goods sold at eBay and other auction sites is distorted. Efficient monitoring costs are high because companies have to pay considerable cost to eliminate fraudulent behavior. System failures may increase the company's operational risk in the long run. If eBay.com is interrupted for about a day and PayPal suspends for 5 days in 2008, the reliability of the service may decrease, which is particularly important for the payment department. eBay's market transactions include many day-to-day operations, closing the system can have a significant impact on revenue