Internet Fraud

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Internet Fraud

• Farha Mukri
• CSE 601

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Web replicates Real World

• Communication
• Information
• Entertainment
• Shopping
• But also..
• Fraud

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Internet Fraud

• 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
• -U.S. Dept of Justice

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Forms of Internet fraud

• Auction Fraud
• misrepresentation or non-delivery of products
• Employment/Business Opportunities
• bogus companies recruiting citizens
• Identity Theft
• Use another's personal information without their
  knowledge to commit theft or fraud

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Forms of Internet fraud

• Spam
• unsolicited bulk email
• Spoofing
• Dissemination of forged e-mail
• Phishing
• Masquerading to acquire sensitive information
• Adoption/Charity fraud, Pet Scam, Romance
  Fraud and many more..

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Top Ten Complaint Categories
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Examples
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(No Transcript)
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Some facts and figures
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Online safety tips

• Find out all the background information of the
  seller/ company before entering any financial
  deals online.
• Try to obtain a physical address of seller rather
  than merely a post office box and a phone number.
  
• Dont believe promises of easy money.
• Inquire about returns and warranties on all
  items.
• Think twice before entering contests operated by
  unfamiliar companies
• Be cautious when responding to special offers
  (especially through unsolicited e-mail).
• Beware of imposters and guard your personal
  information

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Financial loss
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Internet Crime Complaint Centre (IC3)

• Partnership between
• Federal Bureau of Investigation (FBI)
• The National White Collar Crime Center (NW3C) and
  
• The Bureau of Justice Assistance (BJA)

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Benefits of IC3

• Analyzes and refers all fraudulent activity
  identified on the Internet to the appropriate
  local, state, or federal law enforcement
  authority
• Provides an analytical repository for Internet
  crime complaints
• Identifies current crime trends over the Internet
• Aids in the development of law enforcement
  training to address identified Internet crime
  problems
• Serves as the catalyst that allows law
  enforcement and regulatory agencies to network
  and share data
• Potentially reduces the amount of economic loss
  by Internet crime throughout the United States

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Thoughts

• Internet Fraud is growing at an alarming rate
• Skepticism, distrust and fear of the use of
  internet in the minds of people
• Hampers the potential growth of the internet

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• Alertness on the web
• Reporting online frauds
• Learning from others experiences.
• as well as
  your own
• Enable ourselves and others enjoy a relatively
  safe and pleasurable internet experience.