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Understanding Fraud Risk In E-Commerce With Special Emphasis On Credit Card Fraud And Triangulation




Cinchana Gowda, Christ University

ABSTRACT

The following paper aims to shed light on two prominent forms of internet fraud risk element of e-commerce, which are credit card and triangulation related frauds. Credit frauds occurs in various ways and requires security authentication in the form of data retention by e-commerce websites. This results in the sensitive and risk-prone nature of credit card transactions. This research also incorporates merchant and internet based credit card thefts, along with phishing and how it can be avoided. Furthermore, by the use of doctrinal research, this paper elucidates triangulation and auction fraud committed using fake credit cards online. A triangulation fraud occurs when the fake seller engages into an authentic sale of good with a buyer on the legitimate auction or e-commerce website such as eBay. There is element of risk for buyer, the e-commerce platform as well as the payment bank of the credit card. The paper aims to enumerate such fraud risk in e-commerce occurring everyday and also highlight current regulatory method of fraud detection and classification.

Keywords: credit card, auction fraud, triangulation, e-commerce

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Indian Journal of Law and Legal Research

Abbreviation: IJLLR

ISSN: 2582-8878

Website: www.ijllr.com

Accessibility: Open Access

License: Creative Commons 4.0

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​All research articles published in The Indian Journal of Law and Legal Research are fully open access. i.e. immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

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The opinions expressed in this publication are those of the authors. They do not purport to reflect the opinions or views of the IJLLR or its members. The designations employed in this publication and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the IJLLR.

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