Types of Internet Fraud

These Internet fraud perpetrators have been using the same schemes over and over again to victimize people. With the vast expansion of the Internet and the enactment of the e-commerce law, the means and ways of Internet scams have evolved as well. The perpetrators were able to develop new and attractive ways of presenting to the consumers their schemes in a way that these consumers will not have any idea that they are falling into a trap. Internet schemes nowadays are wrapped in very attractive packages so to speak.

They look like legitimate transaction, but in truth and in fact, they are nothing but a mirage and these poor victims suffer the losses. The number one type of Internet fraud in 2009 is about Identity theft and phishing. Identity theft, as the name implies, is a wrongful act that is often done by an individual who assumes the identity of another in order to perfect some transactions using the victim’s credit card or personal records for personal and financial gain.

In one federal case, the defendant was able to get the names as well as the social security numbers of 100 employees, and he was able to use that information in order to apply for credit cards through the Internet. In another federal case, the defendant allegedly got access to the names and the personal data of several employees and that person used such information in order to apply for fourteen loan applications (United States Department of Justice, n. d. ). Phishing is an ingenuous device used by Internet fraud perpetrators through the use of a false website and emails.

These people pretend to be credible and legitimate sources, and they send emails to potential victims and ask for personal data like the credit card and the social security number. If the person responds, they use his or her information in order to have financial gain (Spam Laws, n. d. ). Viruses and spyware are among one of the ways on how the Internet fraud perpetrators gain access. Viruses are almost everywhere in the web thereby making it hard to know if the web site that a person is accessing is infected.

Advanced fee scams are also popular in Nigeria; they are called Nigerian Money Offers. It involves a web site that advertises a lot of money in order to grab the attention of potential victims. The catch is that they first have to pay a certain amount for transfer fee in order to get it (Moore, 2009). Fake or spoofed websites and domain hi-jacking are also widespread ways of victimizing both consumers as well as investors. These Internet hackers are geniuses. They offer amazing deals that people cannot refuse and they put hard-to-find items on display.

They set the web site up for a certain amount of time until they are satisfied with how much money they have acquired, and then they close it after some time. Spoofing happens when a seemingly legitimate email from a seemingly credible company is sent to a victim with a link that transfers him to a fraudulent web site (Moore, 2009). Social networking scams are prevalent as well. The potential victims will receive a message from an unknown source telling them that they are featured in a You Tube Video or in Twitter.

When the potential victim follows and clicks the link, their computer will be open to hackers. Their accounts will be accessed and as a result, the con artist may reach their friends and family via Friendster, chat or email and ask for a certain amount of money because they will pretend that they are in some kind of trouble (Moore, 2009). These ways of Internet scamming are among some of the very popular methods that perpetrators employ as a means to deceive people and use their information (Moore, 2009).