Purpose: This paper aims to address the relationship between fear of identity theft/fraud and online shopping, while identifying the most important factors affecting online shopping. Design/methodology/approach: This study uses a mixed method approach in which the quantitative analysis identifies patterns in the data, whereas the qualitative analysis offers in-depth interpretation. Findings: More fear actually predicts more online shopping but shoppers’ trust in the website’s willingness to redress financial harm and risk-benefit analysis are the real factors in online shopping. Research limitations/implications: The sample consists of Amazon users mostly so the findings may not apply to those who never shop on Amazon or never shop online at all. Practical implications: To encourage online shopping, online shopping websites should focus on maximizing the benefit and minimizing the risk, but without addressing the risk by reassuring shoppers of their financial security, emphasizing the benefit alone is ineffective. Originality/value: This is the first study addressing online shopping in terms of fear of victimization. It is also the first study that addresses risk and benefit in relative terms as in risk-benefit analysis measured by both quantitative and qualitative methods.