Sunday, May 24, 2020

Online Fraud and Identity Theft - 3653 Words

Introduction: Identity theft is one of the fastest growing crimes statistically according to the Federal Trade Commission. Roughly 27.3 million Americans have fallen victim to this form of theft/fraud. According to last year the loss of money for businesses and financial institutions are in the billions and with consumers out of pocket expenses has been about 5 billion dollars. Identity theft refers to crimes in which someone wrongfully obtains and uses another persons personal data (i.e., name, date of birth, social security number, drivers license number, and your financial identity— credit card, bank account and phone-card numbers) in some way that involves fraud or deception, typically for economic gain (to obtain money or†¦show more content†¦Fraud is a broad strokes definition; fraud is a deliberate misrepresentation which causes another person to suffer damages, usually monetary losses. Most people consider the act of lying to be fraudulent, but in a legal sense lying is on ly one small element of actual fraud. A salesman may lie about his name, eye color, place of birth and family, but as long as he remains truthful about the product he sells, he will not be found guilty of fraud. There must be a deliberate misrepresentation of the products condition and actual monetary damages must occur. Online fraud is costing about 2.6 billion dollars a year and continues to grow at a rate of 700 million dollars a year. High fraud rates continue to plague electronic commerce Web sites, with criminals expected to steal $2.6 billion from online merchants this year, according to a new survey. While thats an annual increase of $700 million, the percent increase is roughly equal to the increase in total Net sales, so rates of fraud stayed essentially the same -- about 2 percent of sales -- according to the survey, conducted by CyberSource Corp. As Shakespeare wrote But he that filches from me my good name/Robs me of that which not enriches him/And makes me poor indeed. - Shakespeare, Othello, act iii. Sc. 3. The short answer is that identity theft is a crime. Identity theft and identity fraud are terms used to refer to allShow MoreRelatedâ€Å"According to the Australian Bureau of Statistics Personal Fraud Survey 2010-11, an estimated total1500 Words   |  6 Pagesâ€Å"According to the Australian Bureau of Statistics Personal Fraud Survey 2010-11, an estimated total of 1.2 million Australians aged 15 years and over were victim of at least one incident of identity fraud in the 12 months prior to the survey interview..† (Afp.gov.au, 2014) Identity fraud is a type of fraud that involves illegally pretending to be somebody else for a beneficial gain. This can result in emotional and/or financial devastation. This is a very common legal issue facing Australian stakeholdersRead MoreThe Role Of Online Health Records855 Words   |  4 PagesIdentity Theft â€Å"Your identity is your most valuable possession. Protect it.† - The Incredibles Technology in today’s world is forever changing providing individual’s with freedoms they were not able to take advantage of prior to advancements. This can offer many advantages to the average American. The use of online health records is a prime example. Many hospitals are providing online access to a patient’s medical records to provide faster results and quicker response time. Those who receiveRead MoreOnline Identity Theft1414 Words   |  6 PagesOnline Identity Theft What is identity? The word itself can have so many connotations, definitions, and subjects tied to it. However, the most basic definition of our identity would be the qualities, beliefs, and baggage that make up each person. An identity is something that each of us have a claim to from the moment we are born to even past our death. Through the recent technology surges however, our most basic claim is now threatened. We have all heard about crime on the streets but with theRead MoreIdentity Theft Is Not A New Type Of Crime776 Words   |  4 PagesMerriam-Webster defines identity theft as the illegal use of someone else s personal identifying information (such as a Social Security number) in order to get money or credit. The United States Department of Justice says identity theft is, â€Å"The short answer is that identity theft is a crime. Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person s p ersonal data in some way that involves fraud or deception, typicallyRead MoreCyber Crime: Preventing the Horrific Crimes on the Inernet1649 Words   |  7 PagesHorrific Crimes on the Internet Cyber Crime, including fraud, identity theft, stalking, and hacking is a growing problem which can be prevented by taking the proper precautions. I. Background II. Cyber fraud A. Fraud sites 1. Free trials sites 2. Craigslist B. Preventing fraud 1. Personal information 2. Credit cards III. Identity theft A. Identity theft sites 1. Stealing information 2. Craigslist B. Preventing Identity theft 1. Who to give information to IV. Cyber Stalking Read MoreType of Crime That Use It Systems as Weapons1199 Words   |  5 Pagesof damaging, deleting or altering computer data. Computer crimes also include the activities such as electronic frauds, misuse of devices, identity theft and data as well as system interference. Computer crimes involve activities of software theft, whereas the privacy of the users is hampered. These criminal activities involve the breach of human and information privacy, as also the theft and illegal alteration of system critical information. The different types of computer crimes have caused the introductionRead MoreIdentity Theft Is Improving With Time1216 Words   |  5 Pages Identity theft is improving with time! Really. It is. Honestly, if I were to become a victim, better it be today then five, ten or even 100 years ago. The common perception is that identity theft is a computer generation crime, which is increasing by the day. Truth is, identity theft dates back before the Internet, computers, the digital age at all. Mobsters may have brought it to an art form decades ago, and its title was quite literal derived. In that era, identity theft was not a financialRead MoreThe Globalization of White Collar Crimes: An Inside Look of How Fraud, Embezzlement, Cybercrime, Identity Theft and Forgery Are Increasing World-Wide794 Words   |  4 PagesInside Look of How Fraud, Embezzlement, Cybercrime, Identity Theft and Forgery Are Increasing World-Wide In this paper I will examine some of the aspects of white collar crimes such as: fraud, embezzlement, cybercrimes, identity theft and forgery. I will explain what each of these are pertaining to criminal justice and how they relate to one another. And I will conclude by how each of these topics are growing into global problems. According to Criminal-Law-Lawyer-Source.com â€Å"Fraud is the act of deliberatelyRead MoreIdentifying The Different Ways Online Identity Theft1462 Words   |  6 Pagesdifferent ways online identity theft can be achieved by a cybercriminal Identity theft is when your personal details are stolen. Identity theft occurs when someone steals your personal information with the intention to access bank accounts for example, or commit many other crimes in your name and at your expense. Identity theft is a growing threat in the uk which is increasing at a rapid rate. It is said that it could be one of the leading threats in the coming years. Analysis of fraud trends in 2012Read MoreOnline Gaming and Fraud in Massive Multiplayer Online Role-Playing Game (MMORPG) 1359 Words   |  5 Pages1. Online Gaming Security and Fraud Throughout the evolution of gaming, there has been a movement of large communities to online gaming. With that high amount of traffic, these online games have become prime targets for crime to emerge from. Due to the online nature and virtual elements of this kind of community, the most common type of crime committed was theft, followed closely by fraud (Chen 2005). With the increase in online communities from online gaming, businesses have started advertising

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.