Online Fraud, E-Crime, and Internet Scams

1296 Words3 Pages
bulb-icon

Recommended: Essay on internet crime

Online Fraud, E-Crime, and Internet Scams

In the mid-1980’s, computer-related crimes appeared in the United States. Computer-related crimes have now spawned into Internet crimes, and have raised issues regarding Internet security. Essentially, the Internet has become a playground for criminal mischief. Basically, 21st-century technology and Internet accessibility are providing arenas for criminals to use old-fashioned techniques to take advantage of consumers. Recently, Internet crime rates have skyrocketed. The FTC reported that in the last two years, Internet-related-shopping complaints have risen from being 10% of all consumer complaints to 30% of consumer complaints. Last year, 75% of online merchants were concerned about online fraud and e-crime. This year, more than 83% of online merchants are fearful that online fraud and e-crime could affect them. It is predicted that this year alone, online credit-card fraud will increase by 24%.

Victims of Online Fraud and E-Crime Lose Big

Apparently, merchants are very wary of online schemes and scams because when they are the victims…they sustain enormous losses. Internet transactions made with a credit card are deemed as “card-not-present” transactions. Therefore, merchants have no redress against credit card fraud. Essentially, merchants are responsible for the monetary damages of online fraud because only credit card numbers are required for an online transaction and a cardholder’s signature is not required. Also, credit card companies require the merchant to pay $25 to $100 in charge-back fees. Although the monetary costs to merchants are substantial, most merchants say money is not their primary concern. Merchants are more fearful that whe...

... middle of paper ...

...peech and privacy concerns.

In early November, the British government announced it would spend $35.79 million on a package to help local police combat crackers and pedophiles who use the Internet.

Almost every developed nation with Internet access has recently undertaken steps to combat e-crime.

Conclusion

It seems as if worldwide efforts are being focused on reducing cybercrime. However, there is really no truly effective judicial standard for punishing e-criminals. The Computer Fraud and Abuse Act allows criminals to slip through its loopholes, and European nations have just recently begun to draft legislation outlawing online criminal behavior. For the time being, the most obvious way to avoid falling victim to an e-criminal is to become an educated consumer and avoid Internet activities that are known to be susceptible to mischief and fraud.

Show More
Related

  • Check Fraud and Check Washing

    1244 Words  | 3 Pages

    ...only hear about the different ways that criminals are committing electronic fraud such as hacking in to somebody’s computer and stealing their credit or debit card information. There are also cases where peoples identities have been stolen and whole other lives have been built on them by another person. It all started with check fraud and although it’s not talked about as much anymore, it is still a very large concern for most business owners and people like you and me. The tips that have been provided for us can help protect us from fraud, but it is up to us to take the extra steps to prevent check fraud. We cannot sign up for check fraud protection the same way we could for credit or debit card protection or to help protect ourselves from identity theft. There are processes in place to help us once we’ve experienced check fraud but it is up to us to avoid it.

    Read More

  • Identity Theft and Possible Risk in Technology

    1697 Words  | 4 Pages

    Identity theft is a term used for describing criminal that uses individual’s identity without consent. A common crime of identity theft would be identity fraud. Many of the crimes are regularly connected with money-related issues (Reyns, 2013). With technology being commonly used nowadays we are getting more dependent on it for business, financial, medical, and other forms. As a result this became a target for identity thieves as well. The Internet provides us information and accessibility, but information being stored on the Internet eas...

    Read More

  • CyberCrime in Australia

    972 Words  | 2 Pages

    Australia is dependent on technology, everything from state security, economics and information collaboration is more accessible resulting in an increased reliance on digital networks. The rapid increase in cyber activity has a symbiotic relationship with cyber crime. The evolving nature of cyber crimes are constantly leaving counter measures obsolete in the face of these new technologies. Australia takes insufficient action against cyber crime, inaction is based on Australia’s previous focus on counter-terrorism. This study will use the Australia’s National Security Strategy 2013 to show the increasing trend towards cyber security. Unfortunately the Australia Government is lacking in the presence of this growing phenomenon. Recently cyber crimes including attacks from Anonymous and Wiki-leaks prove that no network is completely secure. This study will conclude that the exponential growth of the Internet has resulted in an inability to properly manage regardless of the governmental strategies being implemented.

    Read More

  • Identity Theft Online

    758 Words  | 2 Pages

    If you have ever used the internet than you probably know that almost every website today asks for some type of your personal information. Today, identity theft is becoming more and more common. Websites used to promise more security for consumers, and today websites are no longer offering the same protection. With more and more people shopping online, criminals are gaining access to innocent shoppers’ identities easier than ever. Companies are using consumer information to help target the individual for sales of things they like. Many people are worried that these companies have gone too far and that the information is an invasion of privacy.

    Read More

  • Cardswap Essay

    537 Words  | 2 Pages

    In some cases, customer might lie to say they did not receive the gift card from CardSwap but they did actually. Subsequently, they might acquire to refund which bring financial loss to the seller. In order to deal with this problem, CardSwap can use a special system, Riskified, for fraud prevention. Riskified is technical system using fraud prevention technologies and order analysis methods to ensure the business remains fraud-free and to prevent eCommerce fraud. Furthermore, Riskified offers a full chargeback guarantee on every single order which can eliminate the potential risk in the order.

    Read More

  • Cybercrime And Identity Theft Essay

    1711 Words  | 4 Pages

    The Internet plays the biggest role in identity theft. On the Internet, a thief can hide from detection while stealing peoples’ identities from their homes, being able to steal peoples’ information one by one “then disappearing into another identity,” (Vacca 60). Internet fraud consists of two phases. The first being spoofing where a fake site is set up made to look like the real thing. Once that is completed the second phase, phishing, begins. This usually starts with an email that uses the

    Read More

  • The Impacts of Cyber Warfare

    1833 Words  | 4 Pages

    The ability to conduct warfare through technological methods has increased information security awareness and the need to protect an entities infrastructure. Subsequently, cyber warfare produces increased risk to security practitioners that employ technology and other methods to mitigate risks to information and the various systems that hold or transmit data. A significant risk to information lies in the conduct of electronic commerce, hereinafter called e-commerce. E-commerce is the purchasing or selling of goods and/or services through the internet or other electronic means (Liu, Chen, Huang, & Yang, 2013). In this article, the researcher will discuss cyber warfare risks, present an evaluation on established security measures, identify potential victims of identity theft, and present an examina...

    Read More

  • Cyber Crime and Businesses

    1362 Words  | 3 Pages

    Every day millions in some cases billions of dollars are made by businesses from income brought in by online sale of products and services. As businesses continually develop and expand their client base with online products and services so does the desire by criminals to exploit vulnerabilities in their e-commerce setup. The mass worldwide internet usage growth within the last 20 years has been “an approximate 16 million users in 1995 to an estimated 2,937 million in March of 2014” As the importance of e-commerce increases so does the need to protect the technological infrastructure that will carry out online transactions for each business regardless of its size. I will attempt to highlight and review the history of a few cyber crimes to show the progression of the crimes within the last 30-40 years. I also plan to review how the economy and consumers are impacted by cyber crimes. Finally I will make an effort to contribute with information gathering on how to lower the risk of a cyber attack from and individual user to a large scale business.

    Read More

  • The Effects of Cybercrime

    1514 Words  | 4 Pages

    ...t is not possible to eliminate cybercrime from the cyber space. It is quite possible to check them. History is the witness that no legislation has succeeded in totally eliminating crime from the globe. The only possible step is to make people aware of their rights and duties (to report crime as a collective duty towards the society) and further making the application of the laws more stringent to check crime. Undoubtedly the Act is a historical step in the cyber world. Further I all together do not deny that there is a need to bring changes in the Information Technology Act to make it more effective to combat cyber crime. I would conclude with a word of caution for the pro-legislation school that it should be kept in mind that the provisions of the cyber law are not made so stringent that it may retard the growth of the industry and prove to be counter-productive.

    Read More

  • CyberCrime: Preventing the Horrific Crimes on the Internet

    1424 Words  | 3 Pages

    Every day, citizens are constantly losing money and being victimized due to these fraudulent activities. Cyber crime, including fraud, identity theft, stalking, and hacking, is a growing problem that can be prevented by taking the proper precautions. The biggest cases of cyber crimes are cases of fraud. Online fraud comes in many forms. It ranges from viruses that attack computers with the goal of retrieving personal information, to email schemes that lure victims into wiring money to fraudulent sources” (What is “online fraud”).

    Read More

  • The Internet and Cybercrime

    1789 Words  | 4 Pages

    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.

    Read More

  • Cyber Crime and Cyber Law

    2731 Words  | 6 Pages

    These types of crimes have become a matter of importance for the consumers as well the business firms because it involves large eviction of the amount in terms of money. In these types of crimes, computer and Internet are the primary factor (Spinello, 2000). A high percentage of population is using computers in the Australia, United States as well as other developed nations. These people are much more connected with the world by the use of internet. They are using the computer for fun, business, e-commerce, e-marketing, etc.; thus, it has become an essential part of life and daily routine (Wall, 2008).

    Read More

  • Cybercrime Essay

    2700 Words  | 6 Pages

    As the internet has evolved it is now a part of many people’s daily lives and with that, many could not function or conduct their daily business or lives without it. It is impressive that we can now communicate and even see someone all the way across the country with just a few clicks of a mouse. But as technology changes and progresses seemingly for the good, many will always find ways to exploit technology and use it with the intent of committing crime, turning a positive tool into a negative one. As such the negative side of the World Wide Web, cybercrime has evolved as just one of the major disadvantages of the internet. Cybercrime itself is a broad term and can and does include any crime that is committed via the internet or computer network including seemingly minor acts as downloading music, to denial of service attacks, to even acts of cyber-terrorism. With the newly formed threat of cybercrime has also come new ways for law enforcement to attack and prevent it as well but with limited resources not much can be changed but to continue to prevent new methods from approaching the cybercrime world. This is not only just in our own neighborhoods but is at an international scale. This paper generates the insight about the overall rise of cybercrime among our societies. The main focus of this paper is to describe the types of computer crimes and its effects on individuals and businesses.

    Read More

  • Cyber-Crime is a Serious Problem

    2271 Words  | 5 Pages

    Millions of people around the world use computers and the internet every day. We all use it in school, work even at home, computers have made us life easier, it has brought so many benefits to the society but it has also brought some problems and cybercrimes is one of them. “The times have really changed,” said Greg Garcia, the department’s assistant secretary for cyber security and communications. “We’re seeing now phishing, farming, botnets … war dialing and domain server spoofing. And we’re seeing coordinated cyber-attacks against nation states.” (Fowler 5) Cybercrime is one of the most prevalent and most popular rising crimes being committed today. This is criminal activity done using computers and the Internet. There are millions victims around the world everyday who face these problems. Most people become victims of these at one time or another, but there are ways to avoid or deal with cybercrime by protecting yourself appropriately. I also was one of those victims who faced a similar problem. This unfortunate truth forces me to understand that computers and the Internet have made our lives easier in many ways. However, it is unfortunate that people also use these technologies to take advantage of others through identity theft, hacking attempts, and malicious use of software.

    Read More

  • CyberCrime

    2979 Words  | 6 Pages

    Cybercrime is a global issue plaguing the world. The dictionary defines cybercrime as “crime conducted via the Internet or some other computer network”(Merriam-Webster). The definition remains very broad because the word “cyber” is defined as “relating to the culture of computers, information technology, and virtual reality.” Due to the growing number of people gaining access to the internet, rapid development of technology, and the globalization of the world, more of the world population is becoming susceptible to involvement in cybercrime – whether it be as a victim or a criminal. Cybercrime involves different levels of the world on both the victim and criminal side from an individual citizen, to small groups, businesses, and the government, to the countries of the world. There are different groups from law enforcement agencies to the U.S. Secret Service, that are attempting to combat the problem through cooperation and preemptive efforts. If these groups combined with the public to protect themselves and the country from criminals that commit cybercrime, the nation’s network and technology servers would be much safer for technology users. Clearly, cybercrime is a problem because it puts internet users at risk of being taken advantage of or harmed.

    Read More

More about Online Fraud, E-Crime, and Internet Scams

Open Document