What do we mean by Internet fraud?

If you, like the millions of people worldwide, have an e-mail ID, chances are you’ve gotten one of these mails. There are those that tell you that millions of dollars of government funds are waiting for you. There are others that seek your assistance to help transfer huge sums of money across national borders (for a commission of course). There are still others that offer to provide you with unbelievable discounts from products ranging from Viagra to the latest electronic powerhouse. All of them sound too good to be true, most probably are and all, without exception come under what has come to be known as Internet fraud! One cam today from Africa (apparenntly the same email as I have had before) with the same message months later! Get them into your blacklist NOW!

Internet fraud is much more than conventional fraud taken online. In fact, it is much more powerful than conventional fraud as the perpetrators of Internet fraud could operate from anywhere in the globe! Ever since banking went online, fraudsters have emerged, seemingly from the woodwork, all over the globe. And they are hitting people like you and me with impunity, and more shockingly, indulging in internet fraud worth billions of dollars.

The modus operandi of Internet fraud operators is simple. Most fraudulent online offers promise money or discounts – things that most people cannot resist. Others offer loans, mortgages and financial services (even if you hold bad credit ratings!) Still others lure you with promises of getting you that unsecured credit cards, fourth mortgages and other goodies. But remember, no legitimate business will want to have dealing with you if your credit history is bad – and that unsolicited e-mail that promises you the heaven and the earth, is surely a prime example of Internet fraud.

Other examples of Internet fraud are offers (especially from Nigeria and other African countries) which offer you large commissions to help transfer millions of dollars to your account. Sounds lucrative right? Think again. Just last year, hundreds of netizens were conned out of millions of dollars by these fraudsters. And that does not include those who were foolish enough to actually follow-up on these online e-mails to make them offline, life-threatening confrontations with money-hungry mercenaries. Please be careful if it looks to good to be true then it is proabaly internet fraud!

But not all Internet fraud is aimed at greedy people. Even regular users of the Internet like you and me could end up being victims of Internet fraud. Phishing is the most common of these. Pretending to be from your bank or pay pal account, fraudsters try and get hold of your account details by diverting you to and making you log in to a fake website. Once they have your account details, they log-in and withdraw all your money. Phishing may also occur over the telephone, where fraudsters ask for your details and then use it to steal your money.

The best way to stay clear of such Internet fraud attempts is to use your common sense. No authorized representative will ever ask for your personal account details like log-in names and passwords. If they do, they are most likely fraudulent. No offers of sudden wealth ever come about in the real world. If they do, they are most probably Internet fraud attempts. Get rich schemes, unsolicited offers to get you loans, free credit cards and other such offers are also fraud havens. It is better to keep your eyes peeled, your personal details to yourself and a watch on websites like www.fraud.org and www.ifccfbi.gov for the latest on Internet fraud. Not only do these websites provide tips on how to avoid fraud, they also list out the most common examples of Internet fraud and guide you to remedial action if you have had the misfortune of becoming a victim.