Types of Cyber frauds : What Is Cyber Fraud and Reason Behind The Cyber Frauds

Types Of Cyber Frauds / what are the various types of cyber crimes and frauds

In present time, the cyber frauds are increasing continuously. Here we explain some main cyber frauds. So, please read carefully-

1. DDos Attack

ddos attack

DDos are mostly used to make an online service unavailable and take the network down by overwhelming the site with traffic from a variety of sources. Large networks of infected devices known as Botnets are created by depositing malware on users’ computers. Once the network is down, then the hacker hacks the systems.

In other words-“Distributed denial-of-service (DDoS) attacks target the victim’s system’s resources to prevent them from responding to service requests. They are launched from many host machines controlled by the attacker.

2. Botnets

What Is Cyber Fraud botnets

A botnet is a number of Internet-connected devices, each of which is running one or more bots. Botnets can be used to perform Distributed Denial-of-Service (DDoS) attacks, steal data, send spam, and allow the attacker to access the device and its connection. The owner can control the botnet using command and control (C&C) software. The remote hackers then send spam or attack other computers through these botnets.

3. Social Engineering

social enginnering toolkit

Social engineering involves criminals making direct contact with you, usually by phone or email. They want to gain your confidence and usually pose as a customer service agent so you’ll give the necessary information needed. Hackers take advantage of human nature to exploit a target company through its employees. Social Engineering usually involves an email or other type of communication that induces a sense of urgency in the victim, which leads the victim to comply promptly.

4. Identity Theft

identity thief

This cybercrime occurs when a criminal gains access to a user’s personal information to steal funds, access confidential information, or participate in tax or health insurance fraud. They can use your name to plan a criminal activity and claim government benefits in your name. In rare cases, an imposter might provide false identification to police, creating a criminal record or leaving outstanding arrest warrants for the person whose identity has been stolen.

5. Cyberstalking

cyberstalking cyber fraud

Cyberstalking is the act of persistent and unwanted contact from someone online. It may involve any number of incidents including threats, libel, defamation, sexual harassment, or other actions in which to control, influence, or intimidate their target. Typically cyberstalkers use social media, websites and search engines to intimidate a user and instill fear. Usually, the cyberstalker knows their victim and makes the person feel afraid or concerned for their safety.

6. Prohibited/Illegal Content

Illegal Content cyber fraud

Prohibited offensive content is the content which are X18+ and also subjected to restricted access system. This cybercrime involves criminals sharing and distributing inappropriate content that can be considered highly distressing and offensive. Offensive content can include, but is not limited to, sexual activity between adults, videos with intense violent and videos of criminal activity. Illegal content includes materials advocating terrorism-related acts and child exploitation material. Under sec 67A of IT act, any transmission of material containing sexual explicit act will be punishable up to 5years of imprisonment and fine up to 10lakhs.

7. PUPs

adware, Pup's cyber frauds

PUPS or Potentially Unwanted Programs are less threatening than other cybercrime, but are a type of malware. PUP is a term which was coined by global software security company McAfee. They are also sometimes referred to as ‘crapware’ or ‘adware’. They uninstall necessary software in your system, including search engines and pre-downloaded apps. Not only that, but they can include spyware or adware.

8. Phishing

Phishing attacks are the common social engineer cyberattacks. It is used to steal user data, including login credentials and credit card numbers. In this attack, the recipient is tricked into clicking a malicious link, which can lead to the installation of malware, the freezing of the system as part of a ransomware attack or the revealing of sensitive information.

The link that the attacker send to the victim there are many types of phishing page that attract the victim. It could also be a link to an illegitimate website that can trick you into downloading malware or handing over your personal information.

9. Exploit Kits

exploit cyber frauds

Exploit kits need a vulnerability (bug in the code of a software) in order to gain control of a user’s computer. Exploit kits were developed as a way to automatically and silently exploit vulnerabilities on victims’ machines while browsing the web. They are ready made tools criminals can buy online and use against anyone with a computer. The exploit kits are upgraded regularly similar to normal software and are available on dark web hacking forums.

10. Online Scams

Online Scams cyber frauds

Internet is the main reason of online scams. Scams are happening more and more through the email. You’re more likely to fall victim to fraud or cyber offences above any other crime. There are many types of online scams such as bogus ‘free trial’ offers, bogus emails, counterfeit goods.

What Is Cyber Fraud

A Cyber fraud is the way of unauthorized access of the computer system of network for the purpose of destroy, steal or gain information. According to the context the cyber fraud can be the part of Cyber wars and Cyber terrorism. Cyber criminals, individuals, groups, organizations and other anonymous source can be responsible for the cyber frauds. The tools and things that they use for cyber frauds are called cyber weapons and cyber tools.

In last decade the cyber frauds are increasing continuously. The main reason of increasing cyber frauds are the internet. Cyber criminals unauthorized access our network and mobile devices due to internet and steal our personal information and useful data. Before 2010 many of countries have lack of internet and lack of internet means lack of cyber frauds.

In other words-“Cyber fraud is the crime committed via a computer with the intent to corrupt another individual’s personal and financial information stored online. Cyber fraud is the most common type of fraud and individuals and organizations need to be vigilant and protect their information from fraudsters.”

Reason Behind The Cyber Fraud

Here are some common reasons behind the cyber frauds-

  • For the details of business finance
  • Details for companies customers
  • Sensitive data
  • Access the database of any organization
  • List of clients and employers
  • For fun
  • Need of money

Cyber fraud laws :

cyber frauds laws

 Section 420 Cyber fraud law

According to the section 420-“Whoever cheats and thereby dishonestly induces the person deceived to deliver any property to any person, or to make, alter or destroy the whole or any part of a valuable security, or anything which is signed or sealed, and which is capable of being converted into a valuable security”.

Difference Between ‘Cheating’ and ‘Breach of Contract’

It depends upon the intention of the accused at the time of inducement which may be judged by his subsequent conduct, but for this subsequent conduct is not the sole test. Mere breach of contract cannot give rise to criminal prosecution for cheating unless fraudulent or dishonest intention is shown right at the beginning of the transaction, that is the time when the offense is said to have been committed. Therefore, it is the intention of cheating which is the gist of the offense. To hold a person guilty of cheating, it is necessary to show that he had fraudulent or dishonest intention at the time of committing the act.

Also read :- How To Install Pegasus In Phone? How To Get Rid Of Pegasus? Price Of Pegasus Spyware.

Also read :- what online learning is : And Brain breaks for online learning to learn fast.

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