What is online fraud? Online fraud refers to the fraudlent activities such as identity theft and financial frauds that are commited by using the internet.In cyber security includes online scams,spam,identity theft,a scammer buying products online from your account without your knowledge,identity spoofing,scam,pop-up,alerts,chain letter scams

what is most common type of online fraud?

⦁ Assured approval for credit card or loan: email scams that tell you to pay an upfront fee that assures to give you a loan or credit card ⦁ employment opportunities :they promise to give you an employment offer letter if you agree to pay a certain fee. ⦁ Lottery scame:the email will say that you have to won alottery and you have to pay a processing fee ⦁ phising :the meaning of phising is to get acesss to your confidential details like date of birth,credit card number,passwords,etc.through emails, sms, or calls. ⦁ Free vacation: you may get an email which says tha automatically filled in.t you have received a free vacation to an exoctic location with a hotel room booking . You will then asked to make a payment later. How does online fraud happens so easily? The online fraud happens so easily due to many reasons.the main reasons are: ⦁ it is easy to get access to credit acrd details by hacking or online criminal organisation. ⦁ One who steals credit card details usually sells the confidential information to third parties.this leads to rapid spreading of information ⦁ the law enforcement for cyber crimes is tough and minimal .this is not enough evidence for processing cybercriminals.cybercrimes usually invole several states and countries.hence jurisdictional issues can come into the picture .this will delay or minimise prosection. Hence ,people are not worried about consequence and engage in cybercrime widely.

How to protect myself from online scams?

⦁ Be aware of the various types of online fraud and be alert. ⦁ Get a pop-up window blocker. ⦁ Make sure you scan your device for virus on a regular basis. ⦁ Change your password from time to time . ⦁ Refrain form downloading files from unfamiliar websities.

How to engage in safe online banking?

                   Change your setting to ensure that your login id/username and password do not get automatically filled in .this should be followed when you use any devices -your personal laptop or a public system.
                   To protect yourself from online fraud and scams get yourself protected with protection plan

monitor behavior for earlier fraud detection: fraud is complex .emerging trends like stop are more challenging than payment fraud because when payment fraud occurs the payer receives a chargeback and doesn't lose money .more sophissticated fraud requires a deeper understanding of your data. Continous monitoring of behavioural data for entire user sessions allows fraud to be detected earlier.this spots fraud as soon as it occurs and the data collected helps optimise fraud detection and reduce the number of incident that are unsuccessful or require manual review.

December 19, 2021