Credit cards frauds have also been reduced by 90% as companies maintain identity databases. (Smith, 1999) When companies have this system, it becomes easy to detect identity thieves. On the other hand, this fighting style also poses risks as to the confidentiality and privacy of the databases that the companies keep. Thus, when instituting this, it is essential to make privacy clauses clear and punitive. The FBI also recommends the following measures: Research about the business and buy only from legitimate enterprises. Never be attracted by low prices and freebies if there is no certainty about the product or service.
Seek the assistance of the government to verify identities of businesses and individuals. Get information from callers and mailers who seem to be disguising. These information should be pitched to the authorities. Never send money by impulse. Products should not be paid in advance. Also consider if you cannot get the products anywhere else legally. Easy money is always risky. Investments should be directed to legitimate organizations instead. Also, too little investment is likewise risky. Never respond or transact to a mail, call, or person if you do not want the offer or suspect that the offer is fraudulent.
Be careful about your personal and financial information. Change PINs and passwords regularly. If you must keep a hard copy, keep it in a safe place. Never throw bank receipts and payment transaction forms without double shredding them. Do not open unsolicited spam messages in your electronic mail. Coordinate with authorities at once when identity theft is suspected. Be cautious of opportunities that seem to good to be true. Often, your hunches are correct. Internet financial crimes have incurred thousands of losses in the part of many companies. Yet, the real damage to consumers happens not in the pocket but in the heart.
As victims recover from the ordeal, they recover monetary losses but not the emotional torture of being victimized. (O’Brien, 2000) Falling prey to thieves of identity, money, and trust is a waste of money as well as time and effort. When one suspects or discovers such an activity, it should be brought to the attention of the proper authorities at once who knows the right contingency to follow to avoid further damage. CONCLUSION The internet is so advanced that it enables the improbable to happen. This includes electronic crimes. As soon as a person gets oriented on online transactions, he puts himself at a total risk of becoming victimized.
Once a prey, it is hard to get over the stigma. Electronic financial crimes take many forms. The internet, being an efficient and fast as well as reliable means of business transaction, was an easy means of making these illegal plans materialize. In a touch of a button, a launderer can be able withdraw a victim’s funds or get the victim’s investments without any returns. Criminals can use identity theft, money laundering, phishing, online auctions, Ponzi and pyramiding or franchising schemes, health insurance fraud, letter of credit fraud, and advance fee schemes to procure the money that is not theirs.
Alarmingly, these scams look real and enticing. They can feel so promising that one will really get entangled in the trap. Lawmakers are in a constant battle to this new era of criminality. However, there is no way that law alone can overcome this digital criminality. It is important that people take the caution among themselves. Among others, self-protection is the best. As the old adage goes, prevention is better than cure. There is no easy way to make money. Even online where things are fast, one should still always consider that earning money can only be possible when one has invested rightly and worked sufficiently.
Easy money, as mentioned, is risky. The same goes with too-good-to-be-true offers of buying products with so many freebies it is hard to resist it, as well as products that are too cheap as compared to the ones in the market. They often do not meet the standards of the item you wanted to buy. Over all, the most important lesson in internet financial criminality is that when people are careful, there will be no victims; and where there are no victims, there the perpetrators will be gone as well.
Again, proper care of oneself and ones belongings is the most important defendant against the proliferating digital crimes around the world.
Books Pattavina, A. 2005. Geographic information system and crime mapping in criminal justice agencies. Information technology and the criminal justice system. Massachusets:2005. Wall, D. 2001. Crime and the Internet. New York:2001 Wall, D. 2005. Internet as a conduit for criminal activity. Information technology and the criminal justice system. Massachusets:2005.