How to Avoid Internet Fraud

Chances are that like millions of others worldwide, you have an e-mail address. And that being the case, chances are just as high that you have received one of these emails. You know what I'm talking about. They are the ones that tell you that millions of dollars of government funds are waiting for you. Others seek your assistance in transferring huge sums of money across national borders (for a commission of course). Then there are e-mails that offer to provide you with huge discounts on products ranging from Viagra to the latest electronic gadget. All of them sound too good to be true, and all fall under what has come to be known as Internet fraud.

Internet fraud is much more than conventional fraud that has been brought online. In fact, it can be far worse than conventional fraud since the perpetrators of Internet fraud can and do operate from anywhere and everywhere in the world. Ever since banking was brought online, these fraudsters have continuously emerged, seemingly out of nowhere, all over the globe. And they are hitting people like you and me with impunity, and more shockingly, indulging in internet fraud to the tune of billions of dollars.

The plan and approach of Internet fraudsters are simple. Most fraudulent online offers promise money or discounts – two things that many people find difficult to resist. Others offer loans, mortgages and financial services (even if you hold bad credit ratings!) Still others lure you with promises of unsecured credit cards, fourth mortgages and other goodies. But remember, few legitimate businesses will want to have dealings with you if your credit history is bad. So when you receive an unsolicited e-mail that promises you the heaven and the earth, you should suspect that someone is trying to make you a victim of Internet fraud.

Other examples of Internet fraud are e-mails (especially from Nigeria and other African countries) which offer you huge commissions to help transfer millions of dollars to your account. Sounds lucrative right? Think again. Just last year, hundreds of netizens were conned out of millions of dollars by these fraudsters. Sadly, the practice continues today, and good people are still losing their hard-earned money to these con men every day.

An important thing to remember is that not all Internet fraud is pointed at greedy people. Even regular users of the Internet like you and me could unwittingly become victims of Internet fraud. Phishing is the most common type of fraud that hits regular Internet users like us. Pretending to be from your bank or pay pal account, e-mails from fraudsters try to get hold of your account details by convincing you to log in to a fake website. Once they have your account details, they log-in and withdraw all your money. Phishing can also occur over the telephone, where fraudsters ask for your details and then use it to steal your money, although online phishing is much more common.

Steer clear of these Internet fraud attempts by remembering to use your common sense. No authorized representative will ever ask for your personal account details like log-in names and passwords. If they do, you should immediately suspect fraud. In addition, no offers of sudden wealth ever come about in the real world. If they do, they are almost certainly Internet fraud attempts. Get rich schemes, unsolicited offers to get you loans, free credit cards and other such offers are popular fraud scams as well. So keep keep your eyes peeled, keep your personal details to yourself and keep a watch on websites like www.fraud.org and www.ifccfbi.gov for the latest news and information regarding Internet fraud. Not only do these websites provide tips on how to avoid fraud, they also provide common examples of Internet fraud and guide you to remedial action if you have had the misfortune of becoming a victim.