The rise of the internet has opened up the world to millions of people. It is now possible to do things that were unheard of only ten or even five years go.Unfortunately the internet is not free from scams and scammers. Some scams are especially designed to take advantage of the way the internet works. A lot of internet scams take place without t the victim even noticing. It is only when their credit card statement or phone bill arrives that the person realises that they might have been scammed.
Internet fraud is an epidemic that costs US$7.1 billion as of 2007 (Center of American Progress), growing from a figure of only US$2.6 billion in 2004. The advent of the internet and proliferation of its use makes it an attractive medium for communicating the fraud, enabling a worldwide reach. Solicitation of internet fraud most frequently occurs via e-mail (Joshua Chang, 2010).
It is possible to buy almost anything over the internet these days. Unfortunately, scammers can use the anonymous nature of the internet to rip off unsuspecting shoppers.
Scammers can pretend to be selling a product—often very cheaply—just so they can steal your credit card or bank account details. Similarly, they may take your money but send you a faulty or worthless product instead—or even nothing at all.
There is a lot of scams arise nowdays in the era of technology such as online scams, banking and online account scams,chain letter and pyramid scams,identity theft scams, investment scams,job and employment scams, mobile phone scams,money transfer scams,small business scams and many more.
Phishing Scams
It happen when you receive an e-mail that looks like it came from your bank, warning you about identity theft and asking that you log in and verify your account information. The message says that if you don't take action immediately, your account will be terminated.The thing is even though the e-mail looks like the real deal, complete with authentic logos and working Web links, it's a clever fake. The Web site where you're told to enter your account information is also bogus. In some instances, really smart phishers direct you to the genuine Web site, then pop up a window over the site that captures your personal information.
Auction & shopping scams
Online auctions can be rigged by scammers or used to target you for a scam outside of the auction site. You could end up with a dud product or nothing at all for your money.
Domain name renewal scams
Scams that send you a fake renewal notice for your actual domain name, or a misleading invoice for a domain name that is very similar to your own.
Spam (junk mail) offers
Spam emails, SMS or MMS usually offer free goods or ‘prizes’, very cheap products or promises of wealth. Responding to spam messages can result problems for you computer and your bank account.
'Free' offers on the internet
Offers of ‘free’ website access, downloads, holidays, shares or product trials – but you have to supply your credit card or other personal details.
Modem jacking
Modem-jacking scams secretly change the phone number dial-up modems use to access the internet to an overseas or premium rate phone number. You could pay hundreds of dollars extra.
Spyware & key-loggers
Spyware is a type of software that spies on what you do on your computer. Key-loggers record what keys you press on your keyboard. Scammers can use them to steal your online banking passwords or other personal information.
'Nigerian 419' scams
You are promised huge rewards if you help someone transfer money out of their country by paying fees or giving them your bank account details.
Transferring money for someone else
If you agree to transfer money for someone you don’t know, you let scammers use your bank account to ‘launder’ their dirty money. This puts you and your money in the firing line.
Some people hold beliefs that leave them even more vulnerable to scams. They think that all companies, businesses and organisations are legitimate and okay because they are all vetted and approved by the government or some other authority. That is so wrong! Somehow they got the idea that there are short cuts to wealth that only a few people know. Ask yourself the question: if someone knew a secret to instant wealth why would they be spending their time telling everyone, or need to charge people money for it? The conclusion is educate your friends and family who love to use the Internet to say NO to online scams!They can still be too busy checking their emails or facebook,MySpace and other social media pages to know these signs.
References:
Dyan Tinan "Top Five Online Scams"
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