skip to main content

A Legal Analysis on Resolving Recently Growing Online Business Frauds in Bangladesh

*Md Adnan Kabir  -  School of Law, Chittagong Independent University, Bangladesh
Open Access Copyright 2022 LAW REFORM under http://creativecommons.org/licenses/by-sa/4.0.

Citation Format:
Abstract

In the recent time, the E-commerce sector has been facing serious challenges due to the fraudulent behaviors of a number of E-commerce businesses. Thousands of consumers have lost their money due to these fake transactions. The main purpose of this article is to help to mitigate online business frauds by reviewing the current legislation and regulations in Bangladesh. This research is a descriptive type of research and secondary data and information have been used for study purpose. The study has analyzed existing business laws and provisions, their applicability and deficiencies in reducing online business frauds and dangers. This study finds that there is no committed code or law establishing consumer rights in online businesses. The current laws have not been changed in such a way that online business matters can be handled properly. The study concludes that the legislature may amend existing laws and provisions and also they may consider some foreign countries provisions for taking actions against the fraudulent e-commerce as well as online business organizations. The outcomes of the present study obviously indicate that the risks of online business frauds directly affect consumer behavior when shopping online. Therefore, reducing these risks through undertaking just and proper laws and provisions can increase the trust of the online shopping consumers.

Fulltext View|Download
Keywords: Online business; Frauds in Online Business; Laws and Provisions

Article Metrics:

  1. Chawdhury, Md Shahnur Azad., Akter Sultana., Chowdhury Mustafa Manir., & Ahsan, Syaed Mohammad Hasib. (2020). Is COVID-19 Blessing for Ecommerce: A View from Bangladesh?. International Journal of Advances in Management and Economics, Vol.10, Issue1, pp.26- 31. http://www.managementjournal.info/index.php/IJAME/article/view/686
  2. Chowdhury, Md Shahnur Azad., Islam, Md Shahidul., Hoque, Md Shariful., & Bappi, Mohammad Arafat uddin. (2021). Fraudulence Issues in E-commerce and its Remedies: Cases during COVID-19 Pandemic in Bangladesh. Australian Journal of Business and Management Research, New South Wales Research Centre Australia (NSWRCA), Vol.6, Issue1, pp.120-130. DOI: 10.52283/NSWRCA.AJBMR.20210601A10
  3. Hassan Md Kamrul., Momen, Md Abdul., & Sultana, Seyama. (2010). Online Marketing in Bangladesh: A Descriptive Study in the Context of Some Selected Click and Mortar Businesses. Journal of Business and Technology (Dhaka), Vol.5, (No.2), pp.150-165. https://doi.org/10.3329/ jbt.v5i2.9986
  4. Junger, Marianne., Wang, Victoria., & Schlömer, Marleen. (2020). Fraud against businesses both online and offline: crime scripts, business characteristics, efforts, and benefits. Crime Science, Vol.9, (No.13). https://doi.org/10.1186/s40163-020-00119-4
  5. Karim, Md. Rezaul., & Hossain, Muhammad Armaan. (2021). Fraudulent Financial Reporting in the Banking Sector of Bangladesh: A Prediction. International Journal of Management, Accounting and Economics, Vol.8, (No.2, Februray), pp.62-81. https://dx.doi.org/10.5281/zenodo.4640933
  6. Levi, Michael., & Smith, Russell G. (2022). Fraud and pandemics. Journal of Financial Crime, Vol.29,(No.2),pp.413-432. https://doi.org/10.1108/JFC-06-2021-0137
  7. Smriti, Arifa A. (2019). Legal Remedies against Online Shopping Irregularities: Bangladesh Perspective. Bangladesh Journal of Legal studies. Retrieved from https://bdjls.org/ legal-remedies-against-online- shopping-irregularities-bangladesh-perspective/
  8. Vorobyeva, Ivan., & Krivitskaya, Anna.(2022), Reducing false positives in bank anti-fraud systems based on rule induction in distributed tree-based models. Computers & Security, Vol.120, Issue C, September 2022. https://doi.org/10.1016/j.cose.2022.102786
  9. Yeasmin, Farzana., & Wu, Xianfeng. (2021). Determinants of Cybercrime and its Impact on e- Commerce Development in Bangladesh. Journal of Management and Humanity Research, Vol.6, pp.19-45. DOI: 10.22457/jmhr.v06a02132
  10. Islam, Nazrul., Mubassira, Quazi Nahin., Huda. Raisa Binte., & Fuad, Ajmul. (2021). Adoption of FinTech in Financial and Investment Companies of Bangladesh. In Conference: 16th South Asian Management Forum 2021, Tiled “Impact of Pandemic on Business and Management: Strategies for Sustainability and Growth”. Dhaka, Bangladesh (16-18 December 2021)
  11. Sen, Arun Kumar., & Mitra, Jitendra Kumar. (1956). Commercial Law and Industrial Law 25th ed. Calcutta: The World Press Private
  12. Anju, S. (2021). E–Business in Bangladesh: Need for a Legal Framework. Retrieved from https://www.thedailystar.net/law-our-rights/law-watch/news/e-business-bangladesh-the-need-legal-framework-2134561
  13. Bhuiyan, Abrar A. (2021). Frauds in E-Commerce. Retrieved from www.escdu. org/esc-blog/frauds-in-e-commerce
  14. Chuprina. (2021). The In-depth 2020 Guide to E-commerce Fraud Detection. Retrieved from https://www.datasciencecentral.com/profiles/blogs//the-in-depth-2020-guide-to-e-commerce-e-fraud-detection
  15. Forbes Technology Council. (2021). Online Fraud Is Bad For Business And Customers. Retrieved from https://www.forbes.com/ sites/forbestechcouncil/2020/07/21/online-fraud-is-bad-for-business-and-customers/?sh=17fc0a352eaa
  16. Hasan, A. (2020). The growth of e-commerce during the pandemic in Bangladesh. Retrieved from https://www.newagebd.net/ article/114200/the-growth-of-e-commerce-during-the-pandemic-in-bangladesh
  17. Juniper Research. (2021). Digital Advertising Spend Lost to Fraud to Reach $68 Billion Globally in 2022. Retrieved from: https://www.juniperresearch.com/press/digital-advertising-spend-lost-to-fraud-68-billion
  18. Juniper Research. (2022). Digital Advertising Fraud: Key Trends, Competitor Landscape & Market Forecasts 2022-2026. Retrieved from https://www.juniperresearch.com/rese archstore/content-digital-media/digital-advertising-fraud-research-report
  19. Khan, Sunera S. (2020). E-commerce in Bangladesh: Where are we headed?. Retrieved from https://thefinancialexpress. com.bd/views/views/e-commerce-in-bangladesh-where-are-we-headed-1578666791
  20. Lee, Richard. (2009). Discover the 4 P’s of Internet Marketing Mix. Retrieved from http://www.duyud.com/discover-the-4-ps-of-internet-marketing-mix
  21. Murtuza, H. M. (2021). E-commerce in Bangladesh faces rough ride in 2021 as scams shatter growth. Retrieved from https://www.newagebd.net/article/158509/e-commerce-in-bangladesh-faces-rough-ride-in-2021-as-scams-shatter-growth
  22. Merchant Savvy. (2020). Global Payment Fraud Statistics, Trends & Forecasts. Retrieved from https://www.merchantsavvy.co.uk/pay ment-fraud-statistics/
  23. Moslem, R. (2017). A Brief History of E-commerce In Bangladesh. Retrieved from https://www.linkedin.com/pulse/brief-history-e-commerce-bangladesh-rashed-moslem/
  24. OECD. (2020). Protecting online consumers during the COVID-19 crisis. Retrieved from https://www.oecd.org/coronavirus/policy-responses/protecting-online-consumers-during-the-covid-19-crisis-2ce7353c/
  25. Qureshi, U. (2022). Ecommerce Security and Protection Plan-2022. Retrieved from https://www.cloudways.com/blog/ecommerce-security-tips/
  26. Sahoo, Samveet., Hossain, Mohammad Nazmul Avi., & Hassan, Khandaker Shaoli. (n.d.). A Boon for Online Commerce: How COVID-19 is Transforming the Industry in Bangladesh. Retrieved from https://next billion.net/online- commerce- covid19-industry-bangladesh
  27. Saha, S. ( 2014). The future of shopping is online. Retrieved from http://www.thedaily star.net/the-future-of-shopping-is-online-43629
  28. TBS Report. (2021). Bangladesh Bank to introduce escrow service for e-commerce. Retrieved from https://www.tbsnews.net/ economy/bangladesh-bank-introduce-escrow-service-e- commerce-267139
  29. The Dhaka Tribune. (2021). E-commerce in Bangladesh faced its own pandemic in 2021. Retrieved from https://www.dhaka tribune.com/business/2021/12/29/e-commerce-in-bangladesh-faced-its-own-pandemic-in-2021
  30. The Bangladesh's E-Commerce Policy Framework.(2021). Digital Commerce Operational Guidelines 2021 in Bangladesh. Retrieved from https://hype dhaka.com/news/digital-commerce-operational-guideline-2021-bangladesh/
  31. Turag, Tyaba T. (2021). Regulatory Framework of doing Online Business in Bangladesh: Problems and Prospects. Retrieved from https://bdlawdigest.org/regulatory-framework-of-doing-online-business-in-bangladesh-problems-and-prospects.html

Last update:

No citation recorded.

Last update: 2024-11-12 20:13:15

No citation recorded.