Internet Fraud

1728 words - 7 pages

Intro Sample...



During the late 1970s and early 1980s there were only small communities online. None of these communities were interconnected. Less than one million people were in the "online world." Now, the Internet connects just about every major online service. There are now over 50 million people online. This gives scammers the ability to easily reach large amounts of people. Another advantage that the Internet offers scammers is the ability to be anonymous. That is, they can communicate with other without fear of being identified. Scammers have found an infinite number of ways, using these benefits, to profit through Internet fraud.

Many Internet scams offer a lure of easy money, which the person can get fast and in large... View More »

Body Sample...


People in debt find these offers to be very attractive. This scam promises to remove negative items from the victim's credit report, including bankruptcy. Truly, this does not happen. Thousands of people become victims of this scam each year, losing hundreds of dollars (Banks 172).

Another financial scam guarantees the victim a credit card no matter what their credit history or financial status. In return, the victim receives information about credit cards or banks that give credit to poor risks. In fact, this information is available for free. A different credit card scam offers a credit card with a large amount of credit for a fee. For this reason, this offer sounds very appealing. However, when the victim gets the card, he discovers it is only good on overpriced products from a catalog issued by the company (Banks 173).

In Ponzi Schemes, a business owner promises a large monthly return to people who invest in his company. The con artist may collect $25,000 from three investors and promise a return of $5,000 per month. The con artist pays the investors for the first few months from the money collected. He would also be signing new investors. Finally, there would be too many investors to pay and it would collapse. On the Internet, these schemes are often seen as an

investment opportunity for a high-tech company outside the United States. This makes researching difficult (Banks 171).

A scam similar to that of Ponzi Schemes has been posted on Internet bulletin boards. These bulletin boards contain messages from groups of people who share common ...

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