What is Internet fraud?

An internet fraud is defined as any type of fraudulent scheme that uses email, web sites, chat rooms, online forums or message boards to present fraudulent solicitations to unsuspecting victims and thereby conduct fraudulent transactions by transmitting the proceeds of fraud to bank accounts of the person committing the fraud. This also involves stealing your identity for criminal purposes and or pecuniary gains.

Some of the most popular Internet frauds circulating on the net are classified as below:

• Government Grants
  
• Advance Fee Loans
  
• Bogus Credit Card Offers
  
• Business Opportunities
  
• Buyers Clubs
  
• Charity Scams
  
• Computer Equipment and Software
  
• Credit Card Loss Protection
  
• Credit Repair
  
• Fake Check Scams
  
• General Merchandise Sales
  
• Government Grants & Identity Theft-Tips to Avoid
  
• Identity Theft-Tips for Victims
  
• Information/Adult Services
  
• Internet Access Services
  
• Investment Scams
  
• Job Scams
  
• Magazine Sales
  
• Medicare Rx Drug Coverage
  
• Nigerian Money Offers
  
• Online Auctions
  
• Phishing
  
• Prizes and Sweepstakes
  
• Pyramids and Multilevel Marketing
  
• Scholarship Scams
  
• Travel Fraud
  
• Work-at-Home Scams

The modus operandi of each of the above scams vary depending on the scam and scamsters involved.
Not just individual consumers are the victims of fraud, but even businesses from large corporations to Departmental Stores can become targets for a variety of illegal schemes. Even banks, credit card companies, defense establishments, public utility services are not spared.

No matter what tricks the con artist uses, the best defense against scams is to follow the basic rule of doing business with only those companies and people you know and trust. If you don't know them, check them out. Understand the offer. Get all the details and promises in writing. Check all bills and invoices carefully. Guard your financial or other account information when dealing on the net. Don't disclose it unless you've determined that you are in a foolproof encrypted browser page on a secure website while doing the transaction. Protect your system against attacks from virus, spywares, trojans and keyloggers with frequent updates.