ONLINE FRAUD

Online fraud

Computer fraud is a serious cyber crime now a days .For example :changing input data In an illegal way or entering unauthorized data and modifying output of a computer system .other type of it-related frauds are financial information ,telecommunication  fraud by the use of telecommunication system or services for dishonest or fraudulent purpose .

Criminal activity involving the perpetration of a fraud through the use of the computer or the internet can take many different forms. One common form includes “hacking,” in which a perpetrator uses sophisticated technological tools to remotely access a secure computer or internet location. A second common criminal activity involves illegally intercepting an electronic transmission not intended for the interceptor. This may result in the interception of private information such as passwords, credit card information, or other types of so-called identity theft.

Federal law defines computer fraud as the use of a computer to create a dishonest misrepresentation of fact as an attempt to induce another to do or refrain from doing something which causes loss. Criminals create fraudulent misrepresentation in a number of ways. First, they can alter computer input in an unauthorized way. Employees may embezzle company funds by altering input data. Second, criminals can alter or delete stored data. Third, sophisticated criminals can rewrite software codes and upload them into a bank’s mainframe so that the bank will provide its users’ identities to the thieves. The thieves can then use this information to make unauthorized credit card purchases.

Best Example of online fraud is:

Lottery frauds are most common online fraud that happens every day on internet. Every day Gmail, Yahoo or Hotmail like mailing portal users receive mails regarding lottery. Such mails comes with popular brand names saying that "You have won 50 Million dollars" from Coca-Cola, Yahoo, Hotmail and other big names. When you reply to those mails they ask for your bank details to transfer your lottery money. When you send them the details asked, then they ask you to give a processing fee or handling charges. To tell you the fact, such e mails are always misleading and money is never transferred and your bank details are used for other scams or frauds.