Explain cyber frauds.
Answers
cyberfraud:
Cybercrime, or computer-oriented crime, is a crime that involves a computer and a network.The computer may have been used in the commission of a crime, or it may be the target.Cybercrimes can be defined as: "Offences that are committed against individuals or groups of individuals with a criminal motive to intentionally harm the reputation of the victim or cause physical or mental harm, or loss, to the victim directly or indirectly, using modern telecommunication networks such as Internet (networks including chat rooms, emails, notice boards and groups) and mobile phones (Bluetooth/SMS/MMS)".
Due to the rise of cyber fraud that occurs on a daily basis, the term has grown to cover a wide range of criminal activity. At its core, cyber fraud is any crime that is committed with the use of a computer or to computer data. This can look like many things, such as:
Identity theft
Stolen bank account numbers
Stolen online passwords
Hacking
Phishing
Terrorist attacks
Bullying
Copyright infringement
Cyber stalking
Theft of Intellectual Property (IP)
Theft of Personal Health Information (PHI)
Theft of Personally Identifiable Information (PII)
The list could seemingly go on and on, but these are some of the most common forms of cyber fraud.
Today, not only are individuals victimized by cyber fraud, but companies suffer from the costly effects of cyber fraud within their networks. In response to this growing trend, the FBI has compiled a list of the “Most Wanted” cyber criminals.
One method used to commit such crimes is sending emails with a seemingly legitimate link, but once clicked, the link installs a virus on the victim’s computer that records keystrokes to enable the acquisition of passwords, account numbers, and emails sent to others. All of the information obtained from these types of attacks are collected by the criminal and put up for sale. This kind of attack is commonly referred to as Phishing.