Online Fraud (or Cyber Fraud)

Online fraud, also known as cyber fraud, refers to any illegal activity conducted on the internet with the intent to deceive or mislead individuals or organizations for financial gain. It involves the use of digital technology and various deceptive techniques to manipulate victims and exploit their personal or financial information.

Online fraud can take numerous forms, such as phishing scams, identity theft, credit card fraud, or advance fee fraud. In phishing scams, fraudsters impersonate reputable entities, typically through fraudulent emails or websites, tricking victims into revealing sensitive information like login credentials or financial data. Identity theft involves stealing someone’s personal information to fraudulently access their accounts, make unauthorized transactions, or commit other fraudulent activities. Credit card fraud entails unauthorized use of someone’s credit card information for fraudulent purchases. Advance fee fraud schemes compel victims to pay an upfront fee with the promise of a larger reward that never materializes.

Preventing online fraud requires individuals to be vigilant, exercise caution when sharing personal information, use strong passwords, and employ anti-malware software. Additionally, organizations and governments play a crucial role in implementing robust security measures, educating the public about potential risks, and actively prosecuting online fraudsters to mitigate its impact.