online fraud

Online fraud is a serious issue in today’s digital age, where it refers to any type of fraud scheme that uses email, web sites, chat rooms, or any other internet-related means 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.

Fraudsters online can steal personal information, such as names, addresses, social security numbers, and financial account information, through deceptive tactics such as phishing. In a phishing scam, fraudsters pose as reputable organizations and trick people into revealing their sensitive information.

Internet auction fraud involves the misrepresentation of a product advertised for sale on an online auction site, or non-delivery of merchandise after payment.

Credit card fraud, often associated with e-commerce transactions, is another prevalent form of online fraud where unauthorized purchases are made using stolen credit card information.

Online fraud can cause significant financial and emotional distress to its victims. It’s important for users to remain vigilant, protect their personal information, and be cautious when conducting transactions online to avoid falling victim to these schemes.