It will not be wrong to say; net is "a place of chaos and crime in many ways". Online fraud refers to the fraud schemes using one or more online services to conduct fraudulent transactions. Last year, over 200,000 online fraud cases were reported, costing losses to almost $600 million. We have to cope up with the reality of web world and prevent this online fraud. Different services of chat-rooms, e-mail, message boards and websites are being used to conduct online-fraud.
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Different types of Online Fraud
Online fraud can be committed in several ways and the fraudsters prefer commodities which are easily sold and have a wider appeal. Some other ways of online fraud include:
Stolen Credit Cards
The most popular online fraud is done through the stolen credit card information. There have been many cases, where the hackers obtain great amount of credit card information from companies' data bases. In many companies the employees have been selling credit card information to criminals, thinking them to be a customer.
Get Wire Transfer Info
Some fraudsters ask the merchants for large quotes and when it comes to payment they ask for their wire transfer payment information to send the payments and then they send fake checks through online check issuing system.
E-mail Fraud Online
Almost as fast as e-mail is being frequently used, a defrauding person via e-mail is also becoming popular. Many people have lost their life savings through this evil online fraud.
Spoofing, Bogus offers and Request for help kind of mails are some types of e-mail fraud.
Fake Online Auctions
People are easily being trapped in these fake online auctions and lost great amount of money thinking they are safely shopping online.