Phishing Costing Chinese Consumers $4.9 Billion In Total Every Year

Posted on Jul 5 2012 - 12:46pm by Editorial Staff

A recent report (via ZDNet) shows that by 2012 end, about 31.8 percent of online shoppers in China have gone through phishing sites and some 61.69 million online users have faced scams. The loss faced by scammed users reported loss of more than 500 yuan ($79), while 33.4 percent of users lost between 500 yuan (US79) and 2,000 yuan (US317).The major reason reports behind this is lack of trust the users having and because of which now 58.8 percent of web companies seen less users comes on their site. The report was published with joint efforts by three organizations promoting website authentication: China Electronic Commerce Association’s Center for Promotion of Credible E-commerce; Union for the Promotion of Credible Web sites in China; and authentication management organization Knet.cn.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.