Trade Minister Nalin Fernando told Parliament yesterday that a new Bill will be presented to Parliament to protect consumers from online e-commerce frauds.
The Bill will include provisions for taking legal action regarding injustices caused to consumers through e-commerce.
He said e-commerce sales have increased rapidly. However, there is no opportunity to make complaints regarding the injustices caused to the customer in e-commerce transactions and attention will be focused on this matter in the future. He said that the opportunity to take direct decisions in problematic areas of the society will be available through the adoption of such Bills.
The Minister said this while joining the debate on the second reading of the Online Safety Bill.
New Bills are brought to protect the responsibilities of the people of the country. Commissions exist in this country to protect the basic rights of the people and thereby provide certain services to the people. All this is directly involved to protect the rights of the people. Even though so many people are connected to the internet, there was no proper regulatory program for it until today.
Fraudulent activities in e-Commerce can take many forms, such as identity theft, account takeovers, phishing scams, or charge back fraud, and can result in significant financial losses for businesses and consumers alike. It is a broad term that covers any type of fraudulent activity related to online shopping.
Fraud in retail and e-Commerce refers to the act of using illegal or deceitful practices to obtain goods or services from online retailers, with the intent of not paying for them. This type of fraud can occur at any stage of the transaction process, from the initial order to the final payment. e-Commerce fraud is a significant issue for online retailers, as it can result in substantial financial losses and damage to their reputation.
There are various types of e-commerce fraud that online retailers must be aware of, including stolen credit card numbers, fake identities, and fraudulent payment methods. One of the most common is through password theft. Online fraud within e-commerce can take many forms, from stolen card information to identity theft and charge back fraud.
Irangika Range