Week 2 – Auction Fraud What is auction fraud? Internet auction fraud is the use of the internet for an online transaction between a buyer and a seller to use deceptive means to defraud the buyer which includes failure to deliver merchandise, intentionally delivering defective merchandise, or delivering merchandise that was promised or purchased of lesser quality than mentioned. Auction fraud can happen on places such as Ebay, where the potential auction fraud is high. Especially for sellers over-seas. I have even been a victim of auction fraud. If one is not careful and is able to research who they are buying from to confirm they are a legitimate seller, then they are subjecting themselves to fraud. Some of the things, such as Ebay, has in process is a strong investigative team to investigate any cases of fraud reported, though it takes time. Other things in place are disclaimers warning people of fraud and what to do if they find themselves in a fraudulent situation. Two measures that law enforcement has been taken by law enforcement to combat auction fraud are to work with the FTC and companies like Ebay to track down the culprits and arrest them, as well as to assist the victim in the investigation and locate the merchandise that was bought. Either the victim will get the merchandise purchased, or they will get a refund if the item cannot be located, once the investigation is completed. Other than that, there really isn’t much in the ways of law enforcement doing anything else to investigate auction fraud, though there are private organizations that are now growing to do that. Including the CUFF, which is Citizens United to Find Fugitives (CUFF). They all band together to track down fugitives in cases such as auction and ... ... middle of paper ... ... somewhere else. This may mean you have become the target of a phishing scam, which is only the start of auction frauds. The site you might get directed to could be less secure, full of malware, and programmed to get your credit card numbers or other personal information. Also, if you get an email from what looks to be a reputable site saying you have another chance, don’t. Contact that site immediately and report it, as well as delete the email you receive. Popular sites like Ebay and Yahoo don’t send emails like that at all. Those are just a few of the many ways you can protect yourself from internet and auction crimes! The only person who can protect you is yourself. Take caution when going onto websites that you use your credit card on to buy things online, as with todays’ technology, your security could be taken and gone within a second with one foul step.
As the United States economy struggles through a sluggish time with the stock market dropping and unemployment rising, being competitive in the job market has become extremely important among professionals. Engineers are no exception. For most engineering firms, being competitive and successful requires obtaining design projects offered by companies in other fields. These projects can range from designing heating and ventilation systems for office buildings to water systems for cities to computer networks for businesses—the list of possibilities and disciplines is extensive. To get these jobs, engineers must make a bid proposal for the project. Bidding involves estimating the entire cost of the project, including the designing and building processes, as well as the materials and labor. Usually, the company with the lowest bid and the best plan gets the job. The ethical issue in this process is determining the cheapest building materials and construction procedures possible without compromising public safety.
Fraudulent activities within a company can lead to its downfall and prosecution of those responsible for said fraud. More than 80% of fraud committed within an organization occurred within accounting, operations, sales, executive or senior management, customer service or purchasing according to an Association of Certified Fraud Examiners (ACFE) 2010 survey (Association of certified Fraud Examiners, 2010). In the case of Phar-Mor, the fraud was initiated by the Chief Operating Officer (COO), Mickey Monus, and supported by the Chief Financial Officer (CFO), Patrick Finn in response to declining profits of the company.
Based on my analysis of the case, I do not believe the investigation of this case has been performed effectively. The U.S. agencies have identified the victims, the crime, the methods used to carry out the crime, and the originating country where the criminals live. They have even worked with other agencies within the U.S. to get the word out to Americans about the crime and how to recognize the signs to avoid being a victim. However, a successful investigation should lead to an arrest. In this case, there have been no apprehensions or the identification of any suspects who committed the crime of purchase order fraud. Due to not making any arrests, there was no prosecution preformed in this case to evaluate.
Business fraud basically involves acts that are a breach of ethics and integrity in a business environment. According to Investopedia, business fraud is any activity undertaken, unethical or illegal in most cases that gives an unfair advantage to the undertaker of the action (Investopedia). Action Fraud, a “fraud report center” in the UK reports businesses of all sizes are vulnerable to fraud and as much as 25% of SMEs in the UK fall victim to fraudsters (Action Fraud).
To test these models in collusion, bidders interact in a three-stage game and can be of type risk neutral, strong or weak. In the first stage, the strong bidders vote for or against forming a cartel and a cartel is only formed if they all agree. When they form a cartel they incur a cost. In the second stage, if a cartel is formed the strong bidders interact in a pre-auction knock-out mechanism where all bidders submit a sealed bid and the highest bidd...
The best ways to prevent gaming fraud. For internet gaming fraud, do some research and investigate and make sure the gaming site is legitimate. Also read the fine print, terms and conditions for playing the game. If you are lucky enough to win, do not take anything in trade. Some gaming sites will offer a prize exchange for any winnings. But, most important, do not give out any of your financial banking account or routing numbers. This is one quick way to lose a lot of money, very quickly. To protect your computer from virus, have the latest firewall protection and change your passwords from time to time. And last, if the deal sounds too good to be true, than most likely it is.
We have grown accustomed to having the Internet at our fingertips no matter where we go. It is impressive that with less than 10 clicks we could talk, make a transaction or finish a business deal. As with anything, there are always ups and downs. The Internet is extremely useful and without it people and businesses would not be able to function properly; but along with those benefits comes a real danger, and that danger is Cybercrime. Cybercrime put simply is any crime committed on the Internet, whether it is downloading music illegally to cyber-terrorism. In today’s modern era, cyber crime is almost unavoidable, it is essential to prepare yourself and learn as much as you can in order to protect your assets. The Internet is a powerful tool that can be used for good or evil but is up to you to choose.
Morris-Cotterill, Nigel. (1999, August). Use and Abuse of the Internet in Fraud and Money Laundering. International Review of Law, Computers & Technology, 13(2), 211-229.
The Internet is a connection of computers across the world through a network. Its origin dates back to the 1960s when the U.S Military used it for research, but it became more available to the public from the late 1980s. The World Wide Web was created in 1989 and browsers began appearing in the early 1990s. Over the last 24 years, the Internet has enabled people to shop, play, do research, communicate and conduct business online. It has also become cheaper and faster in performing different tasks. As much as the Internet has done immeasurable good to society, it has also dominated people’s lives and brought with it an array of cybercrimes. According to Nicholas Carr in his book The Shallows: How the Internet is Changing the Way we Think, Read and Remember (Carr, 2010). He debates on whether the Internet has done more harm than good. People use the Internet daily to exchange accurate information and constantly personal data such as credit cards, passwords and Social Security numbers are travelling through the network from one computer to another. With security measures put in place on the Internet, personal information remains confidential. But unfortunately, criminals have adapted to innovations in technology, and today, more people are increasingly becoming victims of cybercrime. The Internet has had profound effects on the public, both positive and negative. In this paper we will examine how access to personal information has led to an increase in online and offline crimes. The essay will particularly focus on ecommerce and hacking.
Computers and the Internet have changed many things in the world today. People surf the web on a daily bases for information and entertainment. The Internet is making things like paying your bills from home a possibility. This was something that you had to leave the house to do, even if it was just dropping a check in the mail. Now you can pay your bills and buy your groceries, with every thing being just a point and a click away. Other things that can be done on the Internet is E-mail and stock trading. The police and the FBI have even used the Internet to capture and convict criminals. All this new technology is coming at us so fast and from so many places. Such as television, magazines and news papers, pushing to buy sell or trade on the Internet. Yet how much do we know about what happens when you buy something or E-mail someone, who sees all this information. Could some Internet criminal get my credit card numbers, or bank account information.
As one can see the Internet has proven to be the new Wild West, were scam artist and pranksters roam looking for innocent victims to either torment with spam mail or to rob blind. Either way you look at it both ethical and moral standards are violated. Many organizations both federal and private are trying to stop this growing problem but just like the Wild West when it was still new to everyone a few laws or regulations won't stop the problem. The best defense and possible the best solution to this problem was stated in the report from the NCL the consumers must learn the signs of fraud and learn how to protect themselves from the hoaxes and scams that flood the internet today.
A person can purchase almost anything over the internet to include automobiles, whether it is in that person’s hometown, across country, or even across the world. While most of these automobile transactions that occur are legal, some are committed by criminals to trick their victims into falling for a scam. There are several different scams that involve automobiles and cybercrime. Some of these include Baiting, Faking to be a dealership, misleading or stolen identity, and impersonation email scams, all to get an unsuspecting person to give up different amounts of money when dealing in automobiles. The biggest and most common of these scams is the baiting scam. How this specific scam works is that the consumer looks to buy a vehicle online and finds one that he or she likes on a legitimate website. The buyer then contacts the seller through and email address listed in the advertisement. The seller will normally respond by email with a heart wrenching story about why they need to sell the vehicle quickly and for such a good price, these stories vary but sometimes include that they are in the military and are being deployed, or that they are moving across country and need the money. The seller then offers a buyer protect...
According to the IC3, in 2008, they received 275,284 complaints. Compared to the 2007 complaints, there were 33.1% more complaints. The majority of the complaints filed were related to both fraudulent and non-fraudulent issues on the Internet. The crimes reported consisted of non-delivery of merchandise and/or payment which was 32.9%, auction fraud represented 25.5% of the complaints, credit and debit card fraud represented 9.0% of complaints, Confidence fraud, computer fraud, and check f...
In all cases of online sales: guns, drugs, organs, blood, and prostitutes; laws must be set. By creating laws, many people will be protected from the crime and trash that lurks on the Internet. Though easily debated issues, they are all issues, which need foundation and grounding. People can fall victim to online crime easily in any of these situations, be it mentally, physically, or emotionally. Online crime has to stop. Maybe increased government participation and laws won't bring it to a screeching halt, but they will slow its progress.
squad in San Jose, California, calls the Internet "the unlocked window in cyberspace through which thieves crawl" (Erickson 1). There seems to be an unlimited potential for theft of credit card numbers, bank statements and other financial and personal information transmitted over the Internet.