Check out these 5 tips to protect shoppers and online retailers from festive frauds.
We’ve just witnessed the world’s biggest online shopping extravaganza, 11.11, with Alibaba raking in US $74 billion in sales this year.
Yet, as more consumers check out their purchases online, new forms of fraud and scams continue to be a cause of concern for both consumers and e-commerce platforms. In China, this ranged from fake apps to claims of formaldehyde-soaked clothes.
The fraud problem is not limited to China. In fact, it has gone viral around the world and is exacerbated by the pandemic, which has dramatically changed our shopping habits. In Singapore for instance, victims have lost S$41.3 million in the first quarter of this year, nearly a 30% increase.
As we head into Black Friday, the year-end holiday shopping season is expected to be another bumper period for fraudsters. Check out these 5 tips to protect consumers and your business this holiday season!