Like phishing, online shopping identity theft involves thieves who are experts at duplicating legitimate and trusted online stores and websites. Their goal is to get you to believe that you are on the real version of the online store so you will shop as you normally would.
How Does Online Shopping Identity Theft Occur?
Because you are making transactions and purchases on a fake, but completely operational website, thieves are able to capture all your entered personal information when you check out. They are then able to use that information to commit fraud.
What Is the Cost of Online Shopping Identity Theft?
Retail/Service was the 6th most targeted industry sector for online shopping identity theft in the second quarter of 2010, accounting for 3.6% of all phishing during the period.1
Information thieves can collect:
- Credit card or bank account numbers
What thieves can do with this information:
- Identity theft
- Loan fraud/payday loan fraud
- Bank fraud
- Other identity fraud
Online Shopping Theft Statistics:
- Websites in the retail/service industry sector accounted for 3.6% of all online site phishing.1
- Retail/service was the 6th most targeted industry sector for online site phishing.1