Tuesday, March 13, 2007

Faux products are hot -- and so are the Web's counterfeit detectors.

This is already shaping up to be a banner year for one Internet industry. Unfortunately, it's the fraud business.
Though official numbers are scarce, online protection company MarkMonitor says a record $119 billion in knockoff goods will be sold on the Web in 2007, up from $84 billion last year - everything from counterfeit watches to fraudulent pharmaceuticals. eBay (Charts) has ballooned into a city-size megastore that only an army of security guards could monitor for shady merchants. New online services make it simple and cheap for any site to accept credit card or bank payments, and ads on Google (Charts) can lure bargain-hunting shoppers within hours.

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