High-Tech Crime (Fraud)

Fraud :-

When hacking is used for financial gain it comes under fraud. When a person makes a purchase of goods or services on a website on the internet he has to make the payment using payment cards such as debit card, credit card or a cash card, when doing so the user has to input his card details.The details are then stolen by criminals to make clone cards or they use the card details to commit “card not present” fraud through websites or by telephone. At times the hackers sell the card details to the fraudsters for a huge amount.

Website spoofing is another type of fraud where hackers set up a website with similar web address as the original website so that when the users log on to the original website it will re-direct them to the bogus website. Some users give away their card details, account details and other financial information thinking they are on the original website and then fraudsters get access to their important details.

Another type of fraud is the 419 frauds, which is also done on the Internet where fraudsters send emails to people promising them a huge amount of money in return if they pay a small fee.