China loses $46 billion due to online fraud

According to the People's Daily (China), 60 million Internet users in China have fallen victim to online scams, with total losses as of June 2012 reaching 46 billion USD.

According to reports and statistics on e-commerce in the world's most populous market, one of the most common fraud methods in 2012 was the use of phishing attacks, which targeted Chinese e-commerce businesses and banking websites.

The appeal of e-commerce also comes with significant risks - Illustration photo

The majority of these attacks targeted Taobao.com. According to reports from the International Anti-Phishing Association, in the second half of 2011, Taobao.com surpassed Paypal to become the most phished e-commerce site, with a total of 18,508 cases, equivalent to 22% of all phishing attacks worldwide.

Also according to Nhan Dan newspaper, what is worrying is that the rapid increase in online fraud cases is happening right at the time when many domestic and foreign businesses, including many luxury brands, are preparing to set up online stores in the Chinese market.

According to Tuoittre-M