Internet Fraud an Overview of Classifications, Government...

Internet Fraud: An Overview of Classifications, Government Actions, and Consumer Protection December 14, 2006 Internet Fraud: An Overview of Classifications, Governmental Actions, and Consumer Protection Internet fraud is an increasing threat to our technological society, which thrives on the advances and benefits of the Internet and e-commerce. With the increased growth and dependence of the Internet, creative individuals have found ways of conveying fraudulent schemes as legitimate goods and services. Not only does Internet fraud cause harm to individuals and institutions, but it also damages the consumer confidence of valid Internet businesses and e-commerce. There are many forms of Internet fraud which Internet patrons need†¦show more content†¦Among the United States, nine percent of complaints were made against parties in California, seven percent against parties in New York, and six percent against parties in Florida. In terms of financial losses, the total loss in 2005 was $13,863,003 which was significantly higher than the $5,787,170 reported losses in 2004. Average individual losses also increased from $895 in 2004 to $1,917 in 2005. Overall, the number of sca ms reported rose by twelve percent from 2004 to 2005 for Internet fraud. Internet Fraud Classifications Fraudulent online auctions scams are those that typically offer high-end retail goods to customers via online auction houses, yet deliver nothing or counterfeit items to the customer who purchased the item. Most online auction sites specialize in person to person activity where individual sellers or small businesses sell their items directly to consumers. In these auctions the seller, not the site, has the merchandise and often the site will not take responsibility for any problems that may arise between buyers and sellers. On the other hand, general merchandise retail scams occur when fraudulent parties create fake websites, which look legitimate, and sell retail goods to customers but deliver nothing or counterfeited items upon purchase. Online auction scams and general merchandise scams were among the most frequently reported type of Internet fraudShow MoreRelatedEssay on The Efforts to Regulate the Internet5321 Words   |  22 PagesThe Efforts to Regulate the Internet Abstract â€Å"Cyberspace is both the popular medias new darling and new demon, revealing a new, expansive intellectual horizon but simultaneously providing easy access to an infinite, virtual Pandoras box† [1]. This paper shall discuss the situations that have raised the need for the Internet regulations, and in particular, Internet content censorship. 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