Internet Fraud Watch

Internet plays a major role in the lives of the present generation.  It serves as an excellent tool for research, training, discovery of new technologies and ideas, gathering feedback and investment.  However, the online world doesn’t only cater good things, there are also alarming and growing list of fraudulent activities blended with the mentioned benefits earlier. 

The 10 Internet Scams that i shared you many months back are just to name a few.  These are schemes all of us should be aware of whenever we use internet. Since, we are all involve with the online world it is a must to be alert and wise will all our online activities.

Here are other internet frauds that we can add to our fraudulent online watchlist:

Identity Theft

Most Internet fraud is done through the use of stolen credit card information. This can be obtained in many ways. The simplest method is by copying information from retailers, either online or offline. There have been many cases of hackers obtaining huge quantities of credit card information from companies’ databases. Even so-called “secure transactions” are not fully secure, since the information must be decrypted first to plain text before it can be processed. It is at this point where credit card information is typically stolen.

International Modem Dialing

Many consumers connect to the Internet by using a modem that calls a local telephone number. Some web sites purport to be ‘free’ and advertise that ‘no credit card is needed’ to access it. This false assurance prompts some users to download a ‘viewer’ or ‘dialer’ to allow them to view the content. But once the program is downloaded, it disconnects the computer from the Internet and then proceeds to dial an international long distance or premium rate number that charges anything up to US$7 or US$8 per minute.

Online Dating Fraud

This can happen when people meet on an online dating website, or through chat or instant messaging. They get acquainted, after which both want to see each other in real life. The fraudulent individual then usually asks for some money to buy, for example, airplane tickets to visit his new friend. After the victim has transferred or wired money, the online scam artist disappears, never to be heard again.

Phishing

This is the act of attempting to fraudulently acquire sensitive information, such as passwords and credit card details, by masquerading as a trustworthy person or business with a real need for such information. The “request” is conveyed through a seemingly official electronic notification or message, most often an email, or an instant message. Phishing is a form of social engineering attack.

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