Internet Fraud Is Greater Than Ever

While identity theft was present in society previous to the appearance of the internet, this medium has provided thieves with an intriguing method to steal identities from people without even having to leave their house. "Today, more and more people engage in online financial activities such as shopping, banking, investing, and bill paying." (Understanding Identity Theft) While this reflects positively on people's lives by saving them significant time, it also exposes them to a world of

An Internet crime can be a developmental scheme by the perpetrator, using different elements of the internet, and false representation to deprive a person's property or any interest (Kim et al., 2012). Although botched representation comes along, with the provision of misleading information or anonymity of data. In the recent years, there has been an increasing trust of consumers and businesses in the carrying out of particular actions. The amplifying usage comes along with the electronic communication during the act of major business rules. The increasingly rising internet crimes have come along with the global advancement that incorporates internet based conduct of business (Anderson et al., 2013). In the digital era the crime perpetrators, have absorbed the idea of shifting with times leading to the high number of the crimes. The reason that we cannot distinguish between the self additionally the risk trader comes in with internet crime given that a face-to-face communication and monitoring barrier. With that respect, the associated internet fraud has greatly affected by the general allowance, trust, and the usage. The paper will center on the effects attached to social cost, trust, and usage associated with internet fraud.

In recent years, the world has seen significant changes in technology. With new technology come new challenges. One of those new challenges is identity theft. Identity theft can happen through the internet, ATM, emails, or even a phone. Identity theft can happen when any person(s) takes an individual’s information, such as their Social Security number, or even banking information for financial gain. “Close to 100 million Americans have their personal information placed at risk of theft each year when records in databases are lost, stolen or accessed by unauthorized individuals” (Information systems and technology, n.d.). Identity theft not only costs the person, whose

The internet and online sites can be an open door for someone to commit identity theft. In order to combat this I need to continue to “create a strong password, by avoiding common or easy-to-guess passwords.” (Greene-Lewis, 2012) I use a password that contains both upper and lower case letters in addition to numbers and I often combine one or more words together to make it difficult for someone to guess my password. It is a bad idea to use common or easily guessed passwords, such as your birthdate or pet’s

Dhamija, R., Tygar, J. D., & Hearst, M. (2006, April). Why phishing works. InProceedings of the SIGCHI conference on Human Factors in computing systems (pp. 581-590). ACM.

The internet has brought upon a new revolution of global interconnection where contacting someone on the other side of the world is just a click away, but with this international phenomenon comes an increased susceptibility with unfamiliar technology. Internet crime is compiled of all non-physical crime with the aid of a computer. Although broad in definition internet crimes are largely composed of acts such as cyber fraud, ‘phishing’ (username and password hacking), cyber stalking and hacking. Internet crime does not pose an overwhelming issue in society in terms of its

In recent years, the Internet has become an appealing place for criminals to obtain identifying data, such as passwords or even banking information (Borrus). In their haste to explore the exciting features of the Internet, many people respond to "spam" ¬ unsolicited E-mail ¬ that promises them some benefit but requests identifying data, without realizing that in many cases, the requester has no intention of keeping his promise. In some cases, criminals reportedly have used computer technology to obtain large amounts of personal data. With enough identifying information about an individual, a criminal can take over that individual's identity to conduct a wide range of crimes: for example, false applications for loans and credit cards, fraudulent withdrawals from bank accounts, fraudulent use of telephone calling cards, or obtaining other goods or privileges which the criminal might be denied if he were to use his real

The creation go of the Internet has helped spawn new forms of criminals and crimes, and has always helped make older criminal schemes easier to execute, identity theft, child pornography, copyright violations, hacking and you could go on and on. In a 2003 survey conducted by the CSI with the participation of the San Francisco Federal Bureau of Investigation’s Computer Intrusion Squad, of the 530 respondents made up of U.S. corporations, government agencies, financial institutions, medical institutions and universities, 56% reported unauthorized use of their computer systems (2003 CSI/FBI Computer Crime and Security Survey).

Bank of America is a multinational banking institute and one of the most trusted in the banking industry. This organizations sole purpose is to protect the customer’s confidentiality and assets by ensuring that data protection is the number one priority; however any organization when holding personal information can be a victim of data breach and BoA is not exempt. One of the largest risks BoA faces today is Mobile Banking. This consumer convenience is used by fifty percent of smart phone owners (Finney, 2014). Phishing is also threat to the banking industry; this strategy by hackers allows the extraction of consumer passwords and other sensitive information. Hackers targeting banking institution employees with convincing e-mails that fool them into clicking on malicious links-which ultimately compromise their credentials or

Many users are subject of Security and Privacy on the Internet issue. The term "information" now is more used when defining a special product or article of trade which could be bought, sold, exchanged, etc. Often the price of information is higher many times than the cost of the very computers and technologies where it is functioning. Naturally it raises the need of protecting information from unauthorized access, theft, destruction, and other crimes. However, many users do not realize that they risk their security and privacy online.

Throughout time, privacy and security have been two heavily debated topics. There has always been a struggle to find middle ground between a private environment and a secure environment, but the dawn of technology and the Internet has made this struggle even more difficult. The Internet has drastically decreased the expectation of privacy of any and all individuals that have ever used it. Technology in general can pose a threat to an individual’s physical and virtual security. The Internet has also brought forth a sense of anonymity to those looking to conceal their true identities, some of which plan to commit horrific crimes. Privacy and security go hand in hand, however security is by far the most important.

In the last decade it’s amazing how technology has advanced over the years and will continue to advance for many years to come. Every year there is a new cell phone from Apple or Samsung, with new features that make our lives more convenient. From faster software to higher picture quality and so on. I am unable to recall the last time I used a camera to take pictures or went to the bank to deposit a check. Technology advances every day and many can’t wait to see what’s next to come. But with new technology comes greater risk for violations of privacy. In the following research paper I will discuss the types of security breaches and the cost associated with these breaches that businesses around the world face on a daily basis.

The perfect fraud storm occurred between the years 2000 and 2002 involving two of the largest energy and telecom corporations in the United States: Enron and WorldCom. It was determined that both organizations fraudulently overstated assets, created assets from expenses or overstated revenues, costing investors billions of dollars and resulting in both organizations declaring bankruptcy (Albrecht, Albrecht, Albrecht & Zimbelman, 2012). Nine factors contributed to fraud triangle creating this perfect fraud storm, and assisting management in concealing the fraud until exposed and rectified.

In today’s world, we are all in some way connected to or involved with the internet. We all use different services that we feel either enrich our lives or make them more enjoyable every day, from email to FaceBook, MySpace, and e-commerce. We all take a sort of false comfort in the basic anonymity of the internet; however, when we think about it, that could end up being the single biggest risk to our own safety today. When we typically think of crimes committed against us, we could probably name several: mugging, theft, scams, murder, and rape. For these, things we all take as many necessary steps as we can to help lower the chances of them happening to us because they are on the forefront of our minds. However, most of us don’t take the

We are living in an information-driven world today that requires us to protect what and how we share this information. To access the guarded data or information we want to protect requires either a password or a pin. A password is a string or group of combined characters precise in length. Passwords and pins are suppositional, and more consideration is seriously required. They are the primary defense against intrusion. However, they can be easily captured and deciphered by cyber criminals. The security in this area is challenging due to the ineffectiveness of the creation of passwords and pins. Kirushnaamoni (2013) elicits that making logging in straightforward and convenient for users and trying to prevent password cracking is problematic. Cyber criminals will continue to persist and target the vulnerabilities in this area. Therefore, personally, financial, health and