Online Fraud, E-Crime, and Internet Scams Essay examples -- Computers

Online Fraud, E-Crime, and Internet Scams In the mid-1980’s, computer-related crimes appeared in the United States. Computer-related crimes have now spawned into Internet crimes, and have raised issues regarding Internet security. Essentially, the Internet has become a playground for criminal mischief. Basically, 21st-century technology and Internet accessibility are providing arenas for criminals to use old-fashioned techniques to take advantage of consumers. Recently, Internet crime rates have skyrocketed. The FTC reported that in the last two years, Internet-related-shopping complaints have risen from being 10% of all consumer complaints to 30% of consumer complaints. Last year, 75% of online merchants were concerned about online fraud and e-crime. This year, more than 83% of online merchants are fearful that online fraud and e-crime could affect them. It is predicted that this year alone, online credit-card fraud will increase by 24%. Victims of Online Fraud and E-Crime Lose Big Apparently, merchants are very wary of online schemes and scams because when they are the victims†¦they sustain enormous losses. Internet transactions made with a credit card are deemed as â€Å"card-not-present† transactions. Therefore, merchants have no redress against credit card fraud. Essentially, merchants are responsible for the monetary damages of online fraud because only credit card numbers are required for an online transaction and a cardholder’s signature is not required. Also, credit card companies require the merchant to pay $25 to $100 in charge-back fees. Although the monetary costs to merchants are substantial, most merchants say money is not their primary concern. Merchants are more fearful that whe... ...peech and privacy concerns. In early November, the British government announced it would spend $35.79 million on a package to help local police combat crackers and pedophiles who use the Internet. Almost every developed nation with Internet access has recently undertaken steps to combat e-crime. Conclusion It seems as if worldwide efforts are being focused on reducing cybercrime. However, there is really no truly effective judicial standard for punishing e-criminals. The Computer Fraud and Abuse Act allows criminals to slip through its loopholes, and European nations have just recently begun to draft legislation outlawing online criminal behavior. For the time being, the most obvious way to avoid falling victim to an e-criminal is to become an educated consumer and avoid Internet activities that are known to be susceptible to mischief and fraud.