Internet Frauds Computer Software Web Tips Guide
Internet Frauds Promoted By Online Thieves
By Rainbow Spear
Technology has come a long way in the past fifty years. There
are those alive today who never dreamed that they would be able
to use a computer to chat with friends thousands of miles away
or access their bank account online.
The internet has made it possible for us to complete tasks more
easily and conveniently than we ever imagined. But there is a
dark side to being online. It has given criminals a new medium
to commit countless types of internet scams.
Various frauds exist to try and steal information from an individual
or to purposely take money from unsuspecting victims. These types
of internet frauds may be concealed in emails enticing you to
take part in investment opportunities or to simply gather your
credit card information.
Knowing About Online Scams
Most of us think to take extreme measures to protect our children
from online predators, which in today’s world unfortunately is
something that we must do. But what about protecting ourselves
from fraud online?
Being aware that there are criminals online who are using different
methods to introduce online scams is the first step in protecting
yourself. Some of the frauds that are used are obvious, while
others might not seem to pose a threat to your money or identity.
Email Spamming And Stealing Your Information
Scammers use tactics ranging from email spamming of bogus lottery
contests to methods of stealing your credit card information.
Knowing the methods that internet criminals use to commit these
crimes can be a huge step in protecting yourself.
One of the most common types of internet frauds taking place
today is that of stolen credit card information. Stolen credit
card information alone, which constitutes identity theft, reaches
into the billions of dollars each year.
Account Takeovers And Application Fraud
Online scams dealing with stolen credit cards can happen in several
different ways. When the credit card fraud constitutes identity
theft, they normally happen in one of two ways; account takeovers
and application fraud.
Account takeovers happen when an individual takes over another
individual’s credit card account. This happens by gathering pertinent
information about the victim and then contacting their credit
card company or bank.
Fraudulently Making Credit Card Charges
These types of frauds are committed first by asking for all relevant
documents to be mailed to an alternate address, then the credit
card is reported lost and a new one is sent to the new address.
This type of scam allows the individual committing the fraud
to easily obtain the victim’s credit card information and then
fraudulently make charges in the victim’s name.
Opening A New Credit Card With Stolen Information
Application fraud differs in that they are committed by opening
new credit card accounts using stolen information. This occurs
when fake or stolen documents are used to open up a credit card
account in another person’s name.
Frauds such as this are not as hard to commit as you might think.
Personal information contained in household bills and bank statements
can be used to create fraudulent documents, which most of the
time are credit cards. Even when there are fraud protection systems
in place, internet scams involving credit cards can happen.
Pumping And Dumping False Stock Information Online
Other individuals may get caught up in online fraud that concerns
manipulation of the stock market. These types of scams can happen
in areas of the internet that may seem harmless to most. They
are called pump and dump.
This takes place when false stock information is broadcast in
places such as internet forums, chat rooms and also through spam
emails. The reason that people committing the fraud do this is
to cause a huge increase in the stock prices of stocks that are
normally thinly traded and owned by shell companies.
Shell companies are those that have no independent operations
of their own and are used by their owners to normally maintain
control over other companies. This is the pump in the pump and
dump scheme.
Manipulating Stock Prices To Sell High
The dump happens when the stock prices get to a certain level,
and those committing the fraud sell off their stock. This allows
them to gain an abundant profit before the prices of the stock
go back to the normal levels. In this case, the victims are those
who purchased the stock and were unaware that the price was going
to fall.
It is extremely important to be aware of the types of internet
frauds out there and review your security options, to ensure you
are not the next victim. Anything that virtually seems too good
to be true just may be. Any type of investment or other opportunity
should be thoroughly examined before any action is taken.
Be aware that there are those out to gather our information in
order to better themselves, leaving you the one that is harmed
financially. Before you fall victim to any of these online scams,
do some research and always get the facts.
About the Author:
Rainbow Spear has written a number of articles on Online Scams,
Investment Software, Computers and Internet Security including
Fight Identity Theft,
Identity Theft Statistics,
Online Banking,
Computer Troubleshooting,
Computer Forensic Evidence,
Zone Alarm Download.
Keep a lookout for more of his articles on this website.
Give Me Just The Fraud Facts.....
How is fraud committed?
It is all about a trust game in most cases.
There are some that play on other people's gullibility and others who
inadvertently commit fraud through ignorance. You would be surprised at
the number of people who get taken in by internet hoaxes, romance scams
and winning lottery scams. Some people leave important financial and personal
information right out there in the open just waiting for someone to take over
their lives.
|
