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Men lose more to online fraud than women
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.