WhoWhatWhy -As online shopping grew, so did the proliferation of fraudulent websites. Sleek storefronts with irresistibly low prices on “luxury” goods began to surface, luring consumers into making purchases that never arrived. A deeper dive into domain registrations revealed that many of these sites were based in countries with lax fraud regulations. For instance, luxstylebags.com, a bogus luxury handbag retailer, was registered in Bulgaria and was part of a larger network of scam sites. Similarly, the site bestelectronicsdeals.store enticed buyers with promises of steeply discounted high-end electronics, only to vanish without delivering any products. According to the Global State of Scams Report 2024, consumers lost over $1 trillion to online griffs in 2024.
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