Online Auctions Dominant Consumer Fraud
Consumers made a record number of complaints about online scams to the National
Consumers League’s Internet Fraud Watch last year, with complaints about online auctions rising dramatically. The
amount of money lost topped $14 million, with more than $13 million in losses in the online auction category alone.
The IFW received 36,802 complaints in 2002, more than double the 15,864 filed in 2001. Online auctions ranked #1
at 90 percent of the complaints, compared to 70 percent in 2001. The other complaints in the top five were: general
merchandise sales (5 percent); Nigerian money offers (4 percent); computer equipment and software (.5 percent);
and Internet access services (.4 percent). Read more...
