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
