PayPal openly admitted during Web 2.0 Expo in San Francisco earlier this week that online fraud is rising no thanks to the on-going recession. As you may have read my earlier post, online fraud offers easy money.
And also because of the economic downturn which caused some financial institutions to close, fraudsters have taken advantage of this confusion and try to fish for personal financial particulars from these confused customers.
I really could sympathize with genuine online shoppers from high risk countries as Malaysia, I was told, is also a high risk country due to a credit card scam years ago. Imagine how difficult it is to make online sellers take you seriously when they doubt your credibility and refuse to make delivery to your country!
And also because of the economic downturn which caused some financial institutions to close, fraudsters have taken advantage of this confusion and try to fish for personal financial particulars from these confused customers.
I really could sympathize with genuine online shoppers from high risk countries as Malaysia, I was told, is also a high risk country due to a credit card scam years ago. Imagine how difficult it is to make online sellers take you seriously when they doubt your credibility and refuse to make delivery to your country!
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