Internet Fraud is a type of Cybercrime Fraud or Deception which makes use of the Internet and could involve hiding of Information for the purpose of tricking Victims out of Money, Property, and Inheritance.
Internet Fraud is not Considered a single, distinctive Crime but covers a range of illegal and illicit actions that are committed I’m Cyberspace.
Online Fraud appears in many forms. It ranges from email spam to online scams. Internet Fraud can occur even if partly based on the use of internet services and is mostly or completely based on the use of the Internet.
There are many forms of online Fraud which includes the following;
1. Charity Fraud
The Dammed poses as a Charitable Organization Soliciting donations to help the Victims of a natural disasters, terrorist attack,regional conflict, or epidemic. The Scammer asks for donations, and the Scammer’s Victims are Charitable people who believe they are helping a Worthy cause and expect nothing in return. Once dents, the money is gone and the scammer often disappears.
2.Internet Ticket Fraud
A variation of internet marketing fraud offers tickets to sought-after events such as concerts, shows, and sports events. The internet are fake or never delivered.
3. Online Gift Card Fraud
Some of the methods of stealing Gift Card data include automated bots that launch brute Force attacks in retailer systems which store them. First, hackers will steal gift card data, check the existing balance through a retailer’s online service and then attempt to use those funds to purchase goods it to sell in a third party website.
4. Social Media Fraud
People tend to disclose more Personal information about themselves,in their social networking profiles. This Personally Indentifiable information could be used by fraudsters to steal users identifies, and posting this information on social media makes it a lot easier for fraudsters to take control of it. These days Facebook and Instagram are blocked once they notice a Suspicious activity.
5. Purchase Fraud
A fraudster uses the World Wide Web to advertise non-existent goods and services.
Payment is sent remotely but the goods or Services never arrive.
There are many other internet frauds like
1. Advance Fee Fraud
2. Business Logic Abuse
3. Carding Fraud
4. Credit Card Fraud
5. Email Fraud
6. Employment Scams
7. Online Pharmacy
8. Romance Scam.
Effects of Internet Fraud, especially in Africa
1. Internet Fraud causes Financial loss to individuals. It involves huge sums of money being stolen from individual causing them great loss.
2. Internet Fraud brings about Economic decline in a Country.
3. Internet Fraud causes indirect losses to Companies whose client have been defrauded.
4. Internet Fraud throws emotional and Psychological burdens on Individuals. This is because as human being we have the natural tendency to develop fear towards everyone or anything that has previously caused us harm.
5. Internet Fraud has cost some of people their lives because some of them kill themselves when they find out they have been duped of their money.
6. Damaged Reputation.
7. Extra Costs to repair Fraud damage.
8. Internet Fraud has caused West Africa to have a bad reputation, West Africa, Particularly Nigeria and Ghana are notorious for Internet Fraud accross the Globe and it has painted a bad image for West Africa and all the World.
9. Loss of Potential Foreign Investors.
10. Internet Fraud has led to mistrust in West Africa. People who would have liked to do business with or in West Africa, no longer have the Confidence or feel safe to do so due to Internet Fraud.
Now see the 5 Reasons Why People should not hesitate to Stop Doing Internet Fraud
1. Money getting from Internet Fraud is not useful because it has curse, if you use it to train your children, they won’t be useful in Life. Using it to buy cars or building houses is also not useful because it might be seized one day by Security Agencies.
2. It is a poor Choice from a Risk/Reward point of view, because as an internet Fraudster you stand a choice of going to Prison at any given time if been caught.
3. It damages your studies and Social life, especially those undergraduate Students Practicing it.
4. The money gotten from Internet Fraud is wrongly used because is not your sweat, most Yahoo boys sleep in the hotels and club nighting, drinking expensive drinks, and Wearing expensive clothes which will one day vanish and you start life again as a loser.
5. If you are an internet Fraudster, Many people will see you as a bad person and it will affect you in the Society, and you might one day be exposed to Security Agencies which lead you to Prison and being a Convict You won’t be eligible to contest any elective Position.
See photos of young talented Nigerians who have spoiled their destiny just because that are in fast track to make it by doing Internet Fraud.
These ones have been arrested by EFCC and Policemen
These ones have convicted
Please after seeing reading and seeing all this pictures, I want any Internet Fraudster to rethink and have U-TURN in this illegal activity.
Even in foreign country they also arrest Guys doing Internet Fraud
Please like and don’t forget to share for others to see, remember this article might help some people attitude in this illegal activity.