There seems to be an emerging niche of young at-home hackers and cybercriminals looking to make big bucks by taking advantage of Amazon’s ultra-generous return and merchandise replacement policy. Amazon seems to be an especially enticing target due to the fact that it’s a money-making machine with a valuation of $1 trillion. Earlier this month, 24-year-old Joseph Sides (pictured below) of Boca Raton, Fla., was charged with wire fraud, mail fraud, and conspiracy to commit fraud for using false names and email addresses, as well as altering shipping addresses to place approximately 1,227 orders. Then, by lying and saying that the merchandise never came or arrived broken, he was able to receive $229,391.42 in merchandise replacements and refunds. He pleaded not guilty, but faces up to 20 years in prison for each charge if convicted. As for Amazon, they’re unconcerned. Since the retail side of the business is not the real profit center, the company expects some minimal level of losses from fraud or abuse of the liberal return policy and they largely mitigate that from the enormous volume of sales.
