Fraud detection mechanisms in e-commerce marketplaces
Abstract
With the rapid rise of e-commerce, the scope for spurious practices is also mounting. Selling of fake or counterfeit products, identity theft, misleading information, and brand impersonation are some of the multiple ways in which fraudulent activities currently plague the e-commerce industry (Columbus, 2020). While most of these problems affect the customer, there are also cases of reckless returns and review manipulation, which impact the sellers and the marketplaces too. Thus, the entire e-commerce ecosystem is being impacted by a plethora of such issues which compromise the shopping experience and credibility of e-commerce as an ecosystem itself. Since e-commerce marketplaces are inherently reliant on consumer trust and a streamlined shopping experience, such malevolent activities pose a threat to its future growth and need to be immediately dealt with.
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