Internet Fraud
Technology has improved with time, now making a long-distance call is very easy, transferring of money can happen in no time, shopping online is increasing, etc. Technology has become a vital part of our life during covid times, we have realized the importance of technology. With the increase in technology, cybercrime has increased leaps and bounds.
Cybercrime is called a computer crime it is a crime done using the computer. The criminals don't need computers to indulge in crime but as mentioned above new technology has created new crimes. There are many types of cyber crimes, such as identity theft, internet fraud, ATM fraud, wire fraud. This article talks about internet fraud.
Internet fraud is to defraud other people by using the internet. The consumer received an email asserting that the sender requires help in transferring a large sum of money out of Nigeria or another distant country. This can be in any form money, asset, etc. The sender tries to fool the receiver by email or message, this message mention that if they pay some amount then in the future they will get the amount doubled.
In the recent Indian case known as the cyber lotto case. In this case, the accused named Kola Mohan invented a story of a euro lottery. To execute this plan he made an email as well as a website on the internet. Whenever the victim accessed, the site his name would appear as the beneficiary of the 12.5 million pounds. To further worsen the plan the Telugu newspaper published this as a new. He collected a huge sum from the public as well as from the bank. This case came to light very quickly but many people fell victim to this scam.
Email spoofing is also a part of internet fraud. An email is said to be spoofed when the email appears to originate from one source but has been sent from another source. In this, the sender believes that the email has been sent by the known person but instead someone else is interacting. This crime can also cause monetary damage, for eg, the person receives an email from XYZ bank, the victim assumes to be his bank and give them the information, but the mail received is not sent by the bank, as result, the victim gives his information and suffers some losses.
In an American case, a teenager made millions of dollars by spreading false information about certain companies whose shares he had short sold. This information was passed through email. The teenager was sending misinformation which captured most of the people.
There is another case named, The Bank NSP, the management of the trainee of the bank was engaged and to be married, both the couple exchanged many many emails using the company computers. After some time the two broke and the girl made a fraudulent email id and sent an email to the boy's foreign client. She used the bank computer to do this. In this case, the bank was held liable for the emails sent using the bank system.
The crime rate might be increasing but it can be controlled by creating awareness . one should also check the source and verify it with the concerned person to have an advantage.
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