E Fraud
Overview:
An e- fraud is considered to be an electronic crime that affects not only individuals businesses and governments but also allows for very negatively intelligent people and hackers to use their intelligence to log into other’s accounts use their credit card numbers and banking password and transact huge amounts of trade and money . it has been seen that e fraud is on the increase and this is because of the low levels of awareness, the inappropriate counter measures that are ineffective to handle this kind of fraud has led to e frauds being on the increase .The only area that has been actively involved in reducing the impact of fraud is the technical side leaving the other so many variables out of the purview of the e fraud scenario. This has made e fraud even more easier because there have been no mechanisms to reduce these occurrences and even if there are there has been limited penalties issued to the frauds that happen on the cyber space.
Introduction:
“The complexity of modern enterprises, their reliance on technology, and the heightened
Interconnectivity among organizations that is both a result and a driver of e-business these are rapidly evolving developments that create widespread opportunities for theft, fraud, and other forms of exploitation by offenders both outside and inside an organization “ (KPMG 2000)
The paper tries to assimilate and analyze the strategies that can be adopted by everyone who deals on the cyber space to protect their information and finances securely. This paper also tries to analyze why such frauds occurs and what can be done by stakeholders to minimize the occurrences and is it worthwhile an attempt to bring in a global governance ordinance which could help businesses and agencies nab the criminals .
It is recorded that global e commerce sales are steadily growing and with this the e commerce fraud too. The eco system which has promoted the concept of ecommerce streams from the millions of shoppers and
An e- fraud is considered to be an electronic crime that affects not only individuals businesses and governments but also allows for very negatively intelligent people and hackers to use their intelligence to log into other’s accounts use their credit card numbers and banking password and transact huge amounts of trade and money . it has been seen that e fraud is on the increase and this is because of the low levels of awareness, the inappropriate counter measures that are ineffective to handle this kind of fraud has led to e frauds being on the increase .The only area that has been actively involved in reducing the impact of fraud is the technical side leaving the other so many variables out of the purview of the e fraud scenario. This has made e fraud even more easier because there have been no mechanisms to reduce these occurrences and even if there are there has been limited penalties issued to the frauds that happen on the cyber space.
Introduction:
“The complexity of modern enterprises, their reliance on technology, and the heightened
Interconnectivity among organizations that is both a result and a driver of e-business these are rapidly evolving developments that create widespread opportunities for theft, fraud, and other forms of exploitation by offenders both outside and inside an organization “ (KPMG 2000)
The paper tries to assimilate and analyze the strategies that can be adopted by everyone who deals on the cyber space to protect their information and finances securely. This paper also tries to analyze why such frauds occurs and what can be done by stakeholders to minimize the occurrences and is it worthwhile an attempt to bring in a global governance ordinance which could help businesses and agencies nab the criminals .
It is recorded that global e commerce sales are steadily growing and with this the e commerce fraud too. The eco system which has promoted the concept of ecommerce streams from the millions of shoppers and
References: Ding, Julian. 1999. E-Commerce: Law and Practice. Kuala Lumpur:Sweet and Maxwell Asia. Finnis, John A. 2003. The Internet and its likely Impact upon Society, Business and the Economy. Kaur, Kiranjit. 2003b. Consumers, Civic Groups, And The Internet In Malaysia: A Focus On The Communications And Multimedia Consumer Forum Of Malaysia.Paper presented at the United States Department of Commerce News, “Retail E-Commerce Sales in Fourth Quarter” (February 20, 2002)located at http://www.census.gov/mrts/www/current.html.