Internet Fraud Dupes Men More Often Than Women

When it comes to being taken in by Intenet fraudsters, men have a knack of losing cash, according to a new report from Internet Crime Complaint Center.

Data compiled from more than 206,000 complaints received by the U.S. ICCC shows that men lost U.S. $1.67 to every $1 lost by women on online fraud. The organisation says that buying patterns and human natureplay into the findings.

Historically men were more apt to purchase large ticket item like electronics… that could explain a lot of it. But with women now spending more online, the difference is also due to the fact that certain types of schemes tend to suck men in. Men tend to fall victim… to business investment schemes and some other schemes that have a higher monetary loss.

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

Men also tend to be victims of check fraud (average loss: $3000) and Nigerian letter fraud scams($2000). Overall Internet crime is netting the bad guys more money than ever. Total losses from 2007 complaints came to $239 million, up $40 million from 2006. The number of complaints was actually down for the second year in a row.

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The drop in complaints can be credited to increased consumer awareness, but according to a director of research in computer forsenics, there may be another explanation. Alot of time has been spent studying the criminals and researchers have noticed that credit card numbers have often been stolen and then not used. One theory is that nobody want to go to jail for stealing $40. So when they get access to these accounts, they are using only the ones that they can get most value from.

Often criminals will do a balance check and then sell only the cards with the highest balances. There is a little bit of filtering on the criminal side that’s at play here.

There was another interesting finding in the 2007 data. The ICCC found that many countries that were commonly linked with cybercrime were the sources of incidents it tracked, but it did not list China as the top source of perpetrators.

China has been named as the source of many online attacks over the past year, but it didnt make the list of top 10 countries by perpetrators. Leading the list were the U.S. , the United Kingdom and Nigeria.

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19 Responses

  1. rosalie says:

    So it means that women are smarter than men? No offense but women think a thousand times before they buy or put a money in some business..

  2. BlueLaughter says:

    Could also mean that men are smarter than women, but women have less to lose.

    It didn’t state any numbers on the percentages of people scammed.

  3. grognasse says:

    It’s just a hard proof that women are more reluctant to risks. The word is “Puss”.

  4. John says:

    HAHHAHAHAHAHAHHAHA!!!!

    no rosalie.. no

  5. Tyler says:

    That is totally femenism. If you want to talk crap, why don’t you consider that females don’t make as much money. Or Men make the REAL business decisions, or that females are too lazy to report it so the man does. Take that. Or that women aren’t smart enough to use ebay.

  6. Jim Junlot says:

    It is a lot, alot isn’t a word

  7. lolz says:

    Yes, thats what it means…

    Us men are dumb, ZOMG i r th3 stupidz

  8. mitch says:

    What’s the ratio of total PURCHASES by men and women online, or the ratio of online users?

  9. John says:

    It is comical to see the first post to this bit of information making a statement about wisdom. In my house the Woman, my wife is the impulse buyer. I think if we need the object through also reduce the bills from unneeded services and bring financial freedom to our home. From practical experience I often find older couples which have been duped by these ads or those who are single and/or have no sense. I would like to call it common sense but it seems to escape the grasp of far too many to be common. I will hope that there is actually a study done here to give more information as this these bits of data can be skewed, lets not forget all those who fall prey and are simply too embarrassed to file complaints.

  10. dOOBiE says:

    No, it means women don’t use computers unless a bitch is doing my taxes.

  11. Matt says:

    Women don’t take as many risks as men.

  12. Rupert Faraway says:

    Hey, just to let you guys know, I’m a Nigerian Prince and I can offer you a super fast free iPod that will instantly add inches to your penis. For more information, simply make me out a check for 3,000 dollars with your question written in the memo.

  13. Michael Terry says:

    My first guess would be that women don’t spend as much time on the Internet as men do.

  14. songboom.com says:

    Interesting find, but hardly indicative of anything really.

  15. Keith Rice says:

    The headline says, “Internet Fraud Dupes Men More Often Than Women,” but fails to prove it. All that is said is that men lose more money than women. No statistics are listed showing the number of reports made by gender, just the monetary ratio. The monetary ratio would be the same if 100 women lost $1,000 each ($100,000 total) and one man lost $167,000. If the story leads off by saying men are duped more often then the story needs to back it up. I’m not saying men aren’t duped more often, just that the story doesn’t back up the headline.

  16. Internet Quizzes says:

    I have a feeling is it is because men are usually are in a rush and dont have the patience to look at the web URLs to see if a scammer has taken over their domain. Women are more delicate on the internet.

  17. Josh Lee says:

    Interesting stat. Check out my experience with a fraud buyer on Craigs List.

  18. umad says:

    rosalie girls are not smart but cheap. they don’t want to spend money but men spend alot of money

  1. April 25, 2008

    […] Historically men were more apt to purchase large ticket items like electronics… that could explain a lot of it. But with women now spending more online, the difference is also due to the fact that certain types of schemes tend to suck men in.http://www.fortunewatch.com/internet-fraud-dupes-men-more-often-than-women/” rel=”dc:sou… […]

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