Internet Fraud and Identity Theft Essay Example | Topics and Well Written Essays - 1000 words

Internet Fraud and Identity Theft - Essay Example The internet has initiated a fourth sales channel for companies to reach home consumers or their business customers [6]. Rosen stated that E-business includes products, procedures and internet services [7]. The term phishing is well defined by Jim Edwards as Phishing describes a combination of techniques used by cyber crooks to bait people into giving up sensitive personal data such as credit card numbers, social security numbers, bank account numbers, dates of birth and more [9]. E-commerce basically is about B2B and B2C online sales, online ads, online brokerage and number of related online transactions. As per Jim Warholic, with all the inroads and growth in e-commerce in recent years, security concerns still top the list for both B2B business customers and B2C consumers [11]. Payment modes involved in e-commerce are either Traditional Payment Method or Electronic Payment Method. Adam stated Credit cards mode of payment is very common these days and this study will revolve around credit card only [12]. The Internet is rising even more dramatically - it's actually much safer to enter your credit card number on a secure online order form than it is to give your credit card to a waiter at a restaurant [14]. Facilitated by the internet, identity theft can manifest itself in a number of ways including phishing, pharming, and other fraudulent schemes [15]. If one faces fraud, firstly, he should contact the company for your money back. He should have a record of every phone conversation with time; date etc. let them know them that you may notify the authorities. Then report the Securities Division and also the State Attorney General in the state they are located. Fill the formal request form. One should not send the originals of any documents back to the company [16].