'Typo squatting' costs website firms millions

It is not unusual to misspell names of websites while one types on the address bar. Passing it off as a casual error, one realizes their folly only minutes after hitting the Enter button. But, once the address bar is wiped clean, it’s back to normal business. Now, according to a report in Bloomberg Businessweek, this ‘casual error’, has been, in fact giving owners of top websites (as per their revenue) sleepless nights. Referred to as ‘typo squatting’, the roots of this phenomenon are as old and firm as the Internet itself. Cashing in on the raging popularity of Facebook, Google etc. several similar sounding websites have taken firm ground and each you time and I accidentally misspell the name of our favourite site, we end up being accidental visitors to these fake sites. In the process, owners of these fake sites happily walk to the bank. Click here for full story