Effect of Internet on Fraud and Identity Theft Essay

prepare of net profit on Fraud and Identity Theft - Essay ExampleThe number of adult Americans with lucre access was expected to increase from about 88 million in mid-2000 to more than 104 million at the end of 2004. (Claburn, 2004)The Census Bureau of the Department of Commerce approximated that in the fourth quarter of 2000, online retail gross sales amounted to $8.686 billion, a boost of 67.1 per hundred from the 4th quarter of 1999. (Haeberle, 2004) Total e-commerce sales for 2000 were an approximated $25.8 billion, accounting for 0.8 percent of all(a) sales. Bankers, for instance, who conduct online banking transactions are particularly vulnerable to fraud and identity theft (Sullins, 2006).Unfortunately, but non unexpectedly, the rise in e-commerce has become fertile ground for fraud, resulting in a loss of billions of dollars yearly universal (Bolton & Hand, 2002). Apparently, the fraudsters are quick to realize the potential of a new technology or system to open decepti on and identity theft, and early on exploit it to their benefit. Long-distance telemarketing became the channel of such flagitious activity when it was first introduced in the 1970s. So too the pay-per-call service when it became accessible in the late 1980s. Internet technology is the newest attraction for opportunistic fraudsters who take advantage of it for personal gain. The problems facing law enforcers is the rapidly evolving techniques apply by the fraudsters (Acoca, 2008).The rapid increase in the number of complaints associated with online deception and fraud bears this out in 1997, the delegating obtained less than 1,000 Internet deception complaints the following year, the number had expanded eight-fold. Although most Internet deceptions arise from universal scams, the variety of techniques ingeniously devised to exploit the new technology is quickly proliferating.