The digitalization of the world has made all of our tasks easier and we have to internet to thank for it. Advancement in technology has resulted in making the world a global village. From education to data to shopping, all you need is available in one tap away. But as the use of online services has skyrocketed in the previous decades, so has cybercrime.
In 2021, nearly 2.5 million users all around the globe fell victim to internet fraud. Who are the main targets of cybercriminals? It could be you it could be me, anytime, any day. Depending on the motives of the cybercriminals, anyone could fall victim to internet fraud. But mostly, cybercriminals target businesses, wealthy individuals, corporates, companies, etc.
The main motive of cybercriminals is money or data theft. Hence, anyone who has anything valuable to offer could fall victim to cyber threats. For this purpose, we need a strong and immune internet protection system. Many corporates, brands, and companies trust internet fraud protection with FraudWatch. Check them out for promising services with guaranteed results.
But…What Exactly Is Internet Fraud?
Internet fraud is any type of software or online service used to take advantage of victims for the benefit of the fraudulent. Basically, any cybercrime activity that uses methods such as fake emails, impersonation, phishing, identity theft, online counterfeiting, hacking, malware, etc to make victims fall into a cybercriminal’s trap is called internet fraud.
What Are Some Types Of Internet Fraud And How Are They Done?
Let’s look deeper into internet fraud types and how it is done to understand it best.
- Online counterfeiting.
Using a well-trusted company or brand name for credibility to entrap victims and sell them false products, services, or release viruses on their devices.
Malicious software is released on a device or network that accesses data for the malware author.
- Identity theft.
Impersonating a user’s personal contact name or identity to fraud them.
- Data breaches.
Hacking a system to access personal or corporate data for personal means, data harm, data leak, or blackmailing purposes.
- Hacking or phishing.
Phishing is the easiest and most common type of internet fraud that traps the most victims. Encryption of malicious and harmful viruses in friendly emails or links for users to download is the most common form of hacking.
- Man in the middle.
In most businesses that have a wire transfer payment method, a third person involves in the middle of the transfer of data or payment to steal it before it reaches the intended receiver.
Who Can These Internet Fraudulent Be?
- Terrorist groups.
Terrorist groups usually commit internet fraud to access highly confidential data. They carry out criminal activities against the government or the general public through data breaches and data leaks.
- Digital fraudsters.
Digital fraudsters could be anyone. These people usually hack into devices and networks for monetary profit. These fraudsters usually commit crimes using worms or spyware.
Blackmailers can have any type of motive ranging from personal means to monetary profit. These kinds of cyber criminals usually use ransomware.