What is Internet Fraud?

anti-fraud from usa -

The term "Internet fraud" generally refers to any type of fraud scheme that uses one or more online services - such as chat rooms, e-mail, message boards, or Web sites - to present fraudulent solicitations to prospective victims, to conduct fraudulent transactions, or to transmit the proceeds of fraud to financial institutions or to others connected with the scheme.

Contents

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* 1 Overview

o 1.1 Geographic origin

o 1.2 Geographic Targets

o 1.3 Popular products

* 2 Romance Scam

* 3 Identity theft schemes

o 3.1 Stolen credit cards

o 3.2 Get wire transfer info

* 4 Purchase scams

o 4.1 Direct solicitations

o 4.2 Counterfeit Postal Money Orders

o 4.3 Online Automotive Fraud

o 4.4 Cash the check system

o 4.5 Re-shippers

+ 4.5.1 Nigerian version

+ 4.5.2 East European version

+ 4.5.3 Chinese version

o 4.6 Call tag scam

o 4.7 Business Opportunity/"Work at Home" Schemes

* 5 Website scams

* 6 Click Fraud

* 7 International Modem Dialing

* 8 Online Dating Fraud

* 9 Phishing

* 10 Pharming

* 11 Auction and Retail Schemes Online

* 12 Stock market manipulation schemes

o 12.1 Pump-and-dump schemes

o 12.2 Short-selling or "scalping" schemes

o 12.3 Scam Scams

* 13 Avoiding Internet Investment Scams

* 14 See also

* 15 External links

[edit] Overview

Internet Fraud is committed in several ways. The FBI and police agencies worldwide have people assigned to combat this type of fraud; according to figures from the FBI, U.S. companies' losses due to Internet Fraud in 2003 surpassed US$500 million. In some cases, fictitious merchants advertise goods for very low prices and never deliver. However, that type of fraud is minuscule compared to criminals using stolen credit card information to buy goods and services.

The Internet serves as an excellent tool for investors, allowing them to easily and inexpensively research investment opportunities. But the Internet is also an excellent tool for fraudsters. That's why you should always think twice before you invest your money in any opportunity you learn about through the Internet.

Comment #1 Julius (2) from Costa Rica -

I actually receive tons of spam emails like hundreds of them every day coming from companies and individuals i don't even know. Emails that offers all kinds of products and services, lottery winning notifications and even business and investments proposals apart from hundreds of prohibited sites. The cleaning part is making me tired because I have to select and identify each legitimate email messages from the spams. Hope the FBI can track down these crooks and put them out of their filthy operation. The new technology is really making communications a lot easier but if use wrong purposes and intentions it can be dangerous.

• Costa Rica Property Sales and Investments

Comment #2 RAJ (4) from INDIA -

I GOT OFFER FROM NIGERIA, AFRICAN PETROLIUM PLC, 54/56 BROAD STREET, P.O.BOX NO.512, VICTORIA ISLAND, LAGOS, NIGERIA

IS IT CORRECT COMPANY OR FROUAD

Comment #3 Cambridge Suites Hotel from Canada -

Most legitimate companies do not recruit via mass e-mails. Any time you are contacted by someone claiming to offer jobs, I would suggest contacting the company directly rather than dealing with someone on the internet.

Clue 1 - The e-mail advised you not to contact the company directly? Why...because the person is going to scam you and part of the scam involves you not having all the information.

Clue 2 - The person is using Yahoo or some other e-mail provider.

Clue 3 - The person will ask for a "Visa" processing fee...or some other "fees".

Clue 4 - Wages and positions being offered are non exixtance

Clue 5 - The person asks for personal information (ie - passport information)

Clue 6 - Offer of airfares, accommodation, etc are extended

Ceck everything out with the company directly....not someone on the internet. Call the company if necessary. It will save you money in the long run.

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