The upsurge of information technology has brought drastic changes in human lives, internet shopping being one among the major contributions. Even when the consumers use internet for information search, they tend to restrain from making the final purchase on web on account of therisk perceptions associated with web based purchases. The risks associated with web based transactions are explored by several researchers in detail. But e-tailers are attempting newendeavours with the help of technology. This paper is an attempt to explore the risks that consumers perceive while doing online shopping. Along with the risks the moderating influence of online reviews which is considered. The 186 responses obtained were further analysed using SPSS ver.26 with Process Macro v.4.0 by Hayes and it was identified that online review has a moderating effect in the association between risk and purchase intention in an online setting, though there were no significant differences established in various categories in the demographics.