Why Consumer Suffer from Online Scam ? (Part 1)

This is just a question, not a sarcastic comment on those who lost their money due to some fakers on the internet who through illegal means have earned the money and the most importantly chances of getting them caught is also not possible.

This is one of the menace of the international online trade which on one hand is booming everyday while on the side, one heard cases where consumers have lost their money on these online sites. Before we start discussing the scams and how consumers get suffer from scam we need to look into some of the points.

First point is that, on internet there are multiple payment means .If we take an example of B2C or C2C mode of trade then generally, the mode of payment is through credit cards, debit cards, Bank Wire Transfer or PayPal service.

These services provide enough security to its clients through various means like having long coded passwords for online accounts, PIN codes, and other multiple checks. It’s not generally easy to break through these security checks, but it is only possible when there is some negligence from the consumer side.

For example if we take the example of credit card payment then , in purchase process one need to select some product then add to its cart. Then buyer need to insert his personal information and in last stage the credit card pin no and the amount to be deducted.

This information is stored in the website data base and an online invoice is generated for the buyer and copy of it is send to the bank for payment. In bank, when the information is received, it is first verified with the information present and if matched then payment is made to the site.

All the way up to here is simple where all your data is secured. But problem arises that is the site you have visited is authentic, will it deliver the product to you based on your payment. Moreover the credit card information you have provided to them can be used for some illegal means too.

Even if the information is stored safely and the product is delivered to you in time, but what if some is watching you and he gathers that info and save it for its own use.