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List various internet frauds, how they take place and the best mechanisms to control them.
Length: 5 pages (1462 Words)
In the current world, the internet has become widespread and is used by more than three-quarters of the population. People are motivated to use the internet due to its speed and availability of crucial information. Internet is being utilized for personal communications and cooperate ones. Banks use it for communication, storage of data and transaction processing such
as online banking. Fraudsters have taken the use of internet to store and transmit crucial information as an advantage to tap and get private data. The data is used for committing crimesand other frauds such as stealing from client’s banks.
According to law, a fraud is described as a deliberate deception so as to secure an unfair gain that is not in agreement with the law. If fraudsters are given a humble time, they will end up corrupting the usage of the internet and make it an insecure site. Internet users and administrators need to work as a group and come upwith solutions for this malice (Bocij, 2006). The implemented solution should be user andadministrator friendly so that usability of the internet will remain simple, safe, and secure.