Tag Archive | credit card frauds

ELNM Topic 6: Rid the Fools of Their Money: The Online World of Crime and Fraud

Rid the Fools of Their Money: The Online World of Crime and Fraud

  • Write a blog description of an Internet fraud (scam) scheme.

While the Net is a wide marketing and trade channel, people can commit many Internet frauds. The largest online frauds are the auction-type scams, which are known in Estonia, too. In that case you pay for goods but not get them. Usually you have offered goods with very favourable prices and asked for payment in advance. Fraudsters practice spamming or order “mass marketing”.

A largest kind of fraud is the credit card frauds. Fraudsters obtain credit card information useing various malware like Trojan horses and keyloggers. Then the information is used to purchase goods over the Net. There are more ways to fraud like stealing of credit cards, intrusion to companies’ databases, stealing computers containing valuable data and many kinds of social engineering. By stealing credit card you may thieve a person‘s identity. Usually fraudsters use stolen credit card data to pay for the goods if merchants accept credit cards. But later merchants lose his/her money, because of fraud.

I think in Estonia there are no money/banking frauds like in U.S, because we don’t use cheques. And I have not heared about car scams and dating scams, too.

  • Review the scambaiting websites mentioned above. Analyse them from an ethical point of view.

As far as I understood the website WhatsTheBloodyPoint is good due it‘s explanation about scam and scammer. But it’s goal is little bit incomprehensible to me. The website Scam-O-Rama is too difficult to me to understand, because it is telling about Nigeria.