End Internet Fraud

April 1st, 2011 by admin

End Internet Fraud

Internet credit card fraud is a growing concern in the modern world. Police agencies, courts, and lawyers are scrambling to keep up with all of the activity. If you like computers and technology and have a desire to help society and your community, studying at a criminal justice school may be the perfect option for your education. The future for graduates of a criminal justice college is very bright. It does not look like the Internet credit card fraudsters will be letting up anytime soon. Just take a look at some of these amazing facts and statistics:

In 2008, over 40 million people in the UK were regular users of the Internet, and of those, 65 percent reported to shop online. 11 million British residents reported that they shop online a minimum of twice per week. The average amount spent is £1,660. A reported 71 percent of Internet shoppers are concerned about their security. This concern is not without reason because over one-third of all consumers have been the victim of online credit card fraud at least once. In London alone, there were over 66,000 cases of online credit card fraud valued at £18 million in 2008.

Credit card fraud is not only a threat to consumers, but it is a threat to businesses. Consumers who discover they were victims of fraud can report it and have the charges reversed by the credit card company. However, it is not the credit card company paying for the stolen merchandise or services. It is the businesses. They are forced to give refunds to the consumer in case of fraud and take the loss.

One of the most active times of year for Internet fraud is Valentine’s Day. In the days leading up to February 14, the average amount of credit card fraud is twice what the average person spends on gifts when paying for them legitimately. Also, fraudsters spend an average of £44 for a bottle of champagne, whereas the average consumer only spends £30. Some fraudsters like to purchase expensive first-class airfare for Valentine’s Day. The most popular destinations are Cairo, Madrid, and Dubai.

Most UK Internet credit card fraud is committed by people from outside of the UK. This has prompted many business owners to ban sales to specific countries. The countries with the highest rates of credit card fraud are as follows:

1. Nigeria
2. Ghana
3. Malaysia
4. Indonesia
5. Russia

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