• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint

Fraud

Whereas identity theft can include fraud, fraud crimes can occur without someone becoming you by stealing all your personal information. Many fraud cases involve business crimes such as financial institution fraud, Internet fraud, fraud in the insurance industry, and international criminal activities, but fraud can just as easily happen to the average consumer. The anonymity of the Internet lets cybercriminals create any persona and even a fictitious company to fool people into thinking the fraud scheme is legitimate. Internet fraud has developed over the past several years as cybercriminals have gotten more access to people and information and become more sophisticated in their use of technology. Access to people makes fraud possible, and with the multiple ways of reaching people through the Internet, such as with chat rooms, e-mail, message boards, and Web sites, implementing fraud schemes to bilk consumers out of money and information is easy.

Fraud has been around longer than the Internet has existed, but with the advent of online communications, thousands of people can be duped at one time with the click of a mouse. The ease of use of technology makes it possible to set up a fake online e-commerce site and take advantage of people. In the U.K., a survey on cybercrime, called “Cybercrime Survey 2001,” stated that two-thirds of U.K. firms suffered a form of cybercrime in 2000. The Confederation of British Industry (CBI) led this survey and is calling on the British government to centralize efforts to combat fraud on the Internet. The British Computer Misuse Act of 1990 does not include specific language to address failure of technology due to cybercrime. In all countries, online fraud results in loss of money by consumers but also affects the online industry as a whole by sowing mistrust in online applications and merchants.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint