By Jasmine Browley ·Updated April 4, 2024
There’s no better feeling than receiving that “order confirmed” message after purchasing some items online. Anxiously anticipating the alert that your package has been delivered can be so satisfying. So, when that message never comes, not only can it be annoying, thanks to the rise of AI-powered scams, it can be downright alarming.
According to 2023 data from Statista, in 2020 more than 38 percent of all scams worldwide were linked to online purchases. A 2024 report from Mastercard also points out that losses due to ecommerce payment fraud reached $41 million last year and research show that the total cost of ecommerce fraud to merchants will exceed $48 billion globally this year.
What’s most concerning is the myriad of scamming methods that pop up as AI becomes more sophisticated. According to experts, here are a few online shopping scams you should be aware and how you can protect yourself from them.
E-Skimming
Have you ever heard of e-skimming? It is apparently one of the newest types of card fraud, and it’s wreaking havoc on online retailers. It’s a practice that involves scammershacking into an online store, covertly embedding malware on the website’s checkout page, and stealing financial data from the customers. This includes card information, address, full name and any other pertinent details to be able to make significant purchases.
Fortunately experts say the malware only lasts a short time usually before it is found and removed. But in the event that you can ensnared, it may be better to shop with a credit so any funds loss are easily recouped than attempting to recover money from a debit card.
Fake stores
Scamming can also show up in the form of fake stores…yes FAKE STORES.
An AARP survey of 2,012 U.S. consumers 18 and older, found that more than a third of respondents have experienced some sort of fraudulence when trying to make a purchase online.
Fraudsters are know to create copycar versions oftrusted retailers complete with similar logos, messaging and URLs that can easily lead consumers down the wrong path without them even knowing it until it’s too late. Sometimes they sell shoddy replicas of the items purchased at a fraction of the regular cost that, when do get delivered aren’t at all what was advertised. Or the items never come at all and retailer saves the purchase information for nefarious use at a later time.
The best way to avoid this scam is taking the time to closely evaluate where you’re purchasing from before moving forward with entering your card information. Also, adding a two-factor security system through the financial institution you ban with can also be a great way to help prevent serious damage in the long run.
The post Ordered Something Online And It Never Came? It Could Be A Scam—Here’s How To Protect Yourself appeared first on Essence.
