Important Facts
- Statistical Insight: In 2023, online shopping fraud increased by 35% globally, with billions of dollars lost annually to scams related to fake product listings, counterfeit goods, and non-delivery of items.
- Popular Platforms Targeted: Social media platforms, especially Instagram, Facebook, and even messaging apps like WhatsApp, are increasingly being used by fraudsters to market fake deals and products.
- A Rise in Fake “Discounts” and Flash Sales: During festive seasons and shopping events like Black Friday or Cyber Monday, the volume of fraud cases spikes as fraudsters prey on customers looking for bargains.