Digital Fraud Common Forms and Preventative Measures Essays

1627 Words 7 Pages
Introduction
“Whoever commits a fraud is guilty not only of the particular injury to him who he deceives, but of the diminution of that confidence which constitutes not only the ease but the existence of society” -Samuel Johnson
In our ever changing world, technological advances over the past twenty years have paved the way for and deepened our reliance on the digital and computerized lifestyle; electronic mailing, online social networking, computer gaming, e-book reading, mobile phoning, etc... Technology has modified almost every aspect of the human interaction, even our money has changed to bits and bytes that can be transferred around the world or to another bank account with a few taps on a key board and clicks of a mouse; you
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Digital Fraud

Although technology has brought many advances to the conducts of business by way of automating the process of inventory, calculating sales, and processing digital payment, information of all kinds is now floating around in cyberspace. In the protection of privacy, whether governmental, corporate or personal, much of this information must remain concealed from the outside. Unfortunately, the ease of locking away sensitive information is not always simple and threats against the security of information and privacy are ongoing. In the United States, FBI reports of online crime both fraudulent and non-fraudulent increased by 32% in just a four year period from 2004 to 2008 (Wagner. 15).

Internet Hacking

Hacking as an action is the method at which someone of esteemed knowledge of computer languages and pathways is able to manipulate and find holes within a computer or server’s security features. By finding openings the hacker can then extract protected data. On its own, hacking is not considered a fraudulent act, but the information or data that is compromised or stolen is often utilized to perform fraudulent acts. With the accessibility of the internet, and the anonymity of location and persona, internet crimes have soared in number and have resulted in substantial financial losses. According to a study by Cybersource Corp., in 2008 over
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