Men lose more to online fraud than women

Posted on Saturday, Apr 12 2008 @ 10:38 CEST by Thomas De Maesschalck
A new report from the Internet Crime Complaint Center indicates men get duped more often than women by internet fraud. The center received more than 206,000 complaints in 2007, totalling a $239 million loss to fraud. That's $40 million more than the year before.
Data compiled from more than 206,000 complaints received last year by the U.S. Internet Crime Complaint Center (IC3) shows that men lost US$1.67 to every $1 lost by women in online fraud.

The organization says that buying patterns and human nature play into the findings.

"Historically men were more apt to purchase large ticket item like electronics... that could explain a lot of it," said John Kane, the IC3 research manager who wrote the report.

But with women now spending more online, the difference is also due to the fact that certain types of schemes seem to suck men in. "Men tend to fall victim... to business investment schemes and some other schemes that have a higher dollar loss," Kane said.

Investment fraud complaints, where the average loss is more than $3,500, were overwhelmingly submitted by men, Kane said. Compare that to something like auction fraud, where both men and women are frequently victimized. The average loss there is just over $480.
More details at Yahoo News.


About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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