A method that hackers utilize to
commit a cyber fraud crime, is through sending emails to their victims that
contain a somewhat legitimate link. But after the victim has clicked on it, it
will install either a harmful type of spyware or a virus in their computers,
which can record the victim’s keystrokes so the scammers will find out their
passwords, account numbers, and sent emails. This info is acquired from various
kinds of attacks, which are all acquired by the criminal and placed up for
sale. This attack is known as phishing.
Online scammers and hackers are
familiar with the intricacies of the World Wide Web, since it changes every
day. They know how certain browsers work, and are fluent in programming
languages and operating systems. A lot of these modern crooks will pretend to
be a member of a legitimate government agency, a bank, or even their victim’s
trusted friend or relative to be able to acquire access to their personal info.
1.)
Ponzi Schemes – This is a type of cyber fraud
that allows the thieves to acquire as much cash as fast as possible. These
usually pay returns back to the investors from their own cash, or from the cash
that was paid beforehand by previous investors. There aren’t any actual
investment schemes, since these crooks pick up their victims’ cash for
themselves. Ponzi schemes work when a thief puts up an advertisement for a
non-existing company or business, which promises to provide their clients with
unbelievable cash returns in only a short amount of time. Once the victim has
obtained the promised returns on the investment, the victim will start
spreading word to family and friends. So after that, the scheme will keep on
getting more credible, acquiring more and more victims. Victims of Ponzi
schemes don’t recover any of their lost cash.
2.)
Shopping and Action Fraud – This type of
cybercrime deals with shopping scams that will depend on anonymity online.
Since online shopping is now growing in popularity alongside online auction
sites like eBay, there are also a steady amount of complaints regarding
transactions. The most common complaints regarding this issue are: Buyers
obtaining goods late or not receiving them at all, sellers not acquiring the
right amount of payment, buyers obtaining goods that are counterfeit versions
of whatever they ordered, or look vastly different from the one shown on the
site. There’s also the failure to send out the right amount of info regarding a
certain product.
3.)
Mass Marketing Fraud – This act happens when the
person gets an unfamiliar contact through their emails or phones, who keep on
sending false promises as an attempt to steal their money. A lot of these
thieves want to trap their victims with promises of huge cash rewards, or
exclusive goods in exchange for upfront fees. These cyber fraud schemes are
also called consumer frauds.
