Internet/ Internet Fraud term paper 12400

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Internet fraud is becoming the crime of choice now a day. To defend yourself from this crime you should learn three things. What Internet fraud exactly is? The different types of fraud you will run into. And, tips on how you should deal with Internet fraud. This will better your defenses when you are on the Internet.

When people hear the words Internet fraud, they think of getting scammed by some high tech hacker. That isn t what it always is, internet fraud is any type of fraud scheme that uses one or more components of the Internet - such as chat rooms, e-mail, message boards, or Web sites - to present fraudulent solicitations to prospective victims, to conduct fraudulent transactions, or to transmit the proceeds of fraud to financial institutions or to other connected with the scheme. (http://www.cybercrime.gov)

If you are on the Internet even a little, you'll soon see that people and things online tend to move, as the saying goes, on "Internet time." For most people, that phrase simply means that things seem to happen more quickly on the Internet. Such as business decisions, information-searching, personal interactions, you think of it and it is moving faster on the Internet. Unfortunately, people who think up ideas to make fraud benefit them also live on "Internet time" as well. They find ways to take advantage of the Internet's resources. An example could be, by sending e-mail messages worldwide in seconds, or posting Web site information that is readily accessible from anywhere in the world - to carry out various types of fraudulent schemes more quickly than was possible with many fraud schemes in the past. (http://www.cybercrime.gov) You should know that Internet fraud comes in many different forms.

There are different forms of fraud on the Internet. Auction and Retail Schemes Online. According to the Federal Trade Commission and Internet Fraud Watch, fraudulent schemes appearing on online auction sites are the most frequently reported form of Internet fraud. (http://www.cftc.gov/) These schemes, and similar schemes for online retail goods, typically purport to offer high-value items - ranging from Cartier watches to computers to collectibles such as Beanie Babies - that are likely to attract many consumers. These schemes induce their victims to send money for the promised items, but then deliver nothing or only an item far less valuable than what was promised. Business Opportunity/"Work-at-Home" Schemes Online; Fraudulent schemes often use the Internet to advertise purported business opportunities that will allow individuals to earn thousands of dollars a month in "work-at-home" ventures. These schemes typically require the individuals to pay anywhere from $35 to several hundred dollars or more, but fail to deliver the materials or information that would be needed to make the work-at-home opportunity a potentially viable business. Identity Theft and Fraud; Some Internet fraud schemes also involve identity theft - the wrongful obtaining and using of someone else's personal data in some way that involves fraud or deception, typically for economic gain. (http://www.fraud.org/) Along with different types of Internet fraud comes with different ideas on how to stop it.

There are different views on how to deal with Internet fraud. Seeing that if you ever surf the Internet you will at some point or time see Internet fraud. So we found some tips and ideas on how to avoid Internet fraud. Don't Judge by Initial Appearances. It may seem obvious, but consumers need to remember that just because something appears on the Internet - no matter how impressive or professional the Web site looks - doesn't mean it's true. The ready availability of software that allows anyone, at minimal cost, to set up a professional-looking Web site means that criminals can make their Web sites look as impressive as those of legitimate e-commerce merchants. (http://www.scambusters.org) If you see e-mail messages from someone you don't know that ask you for personal data - such as your Social Security number, credit-card number, or password - don't just send the data without knowing more about who's asking. Criminals have been known to send messages in which they pretend to be (for example) a systems administrator or Internet service provider representative in order to persuade people online that they should disclose valuable personal data. While secure transactions with known e-commerce sites are fairly safe, especially if you use a credit card, no secure messages to unknown recipients are not. (http://www.scambusters.org)

Be Especially Careful About Online Communications With Someone Who Conceals His True Identity. If someone sends you an e-mail in which he refuses to disclose his full identity, or uses an e-mail header that has no useful identifying data (e.g., "[email protected]"), that may be an indication that the person doesn't want to leave any information that could allow you to them later if you have a dispute over undelivered goods for which you paid. As a result, you should be highly wary about relying on advice that such people give you if they are trying to persuade you to entrust your money to them. (http://www.scambusters.org) Watch Out for "Advance-Fee" Demands. In general, you need to look carefully at any online seller of goods or services who wants you to send checks or money orders immediately to a post office box, before you receive the goods or services you've been promised. Legitimate startup "dot.com" companies, of course, may not have the brand-name recognition of long-established companies, and still be fully capable of delivering what you need at a fair price. Even so, using the Internet to research online companies that aren't known to you is a reasonable step to take before you decide to entrust a significant amount of money to such companies. (http://www.scambusters.org) The main point on avoiding Internet fraud is, just don t be stupid, and if it looks to good to be true it probably is.

This should have helped you understand why Internet fraud is becoming the crime of choice now a day. The three things you learned in this report should help you better understand fraud; spot the different types of fraud. Along with how to avoid it, and tips to get around it if and when you encounter it.

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