Corporate Fraud - Goldman Sachs

The Case of Goldman Sachs civil fraud has been over the news for the past weeks. Here is a detailed explanation of exactly what happens. I believe everyone should be more informed on this topic so i truly encourage you to watch this.

Another Type of Fraud

This is pretty interesting and pretty self explanatory. Let me know what you think.

US Department of Justice's Report on Fraud.

The Department of Justice of the Government of the USA has provided an elaborate report explaining the definition of each type of fraud and using examples of actions that lye under its definitions. Check out the fraud types as you may have fallen for one or a relative or friend indeed. A friend of mine fell under the "Auction and Retail Schemes" As he purchased a new X box however received just the box. As the fine print stated " only box is to be delivered. Which in his case can do nothing due to him agreeing on this purchase agreement. However he now owns an extremely expensive box. Here is the link to the report online. Check it out

LINK

Census Fraud !

I found a really interesting link where people disguise as representatives from the Census Bureau come up to people and gather information they need towards completing their databases for numerous reasons that are not controlled. Fraud is being used to impersonate agents what makes you think it will not be completed in fraud too !

LINK

Precise Definition of the General Term

I have found the exact definition used by Wikipedia which explains the term more precisely.

The term "Internet fraud" generally refers to any type of fraud scheme that uses one or more online services to present fraudulent solicitations to prospective victims, to conduct fraudulent transactions, or to transmit the proceeds of fraud to financial institutions or to others connected with the scheme. Internet fraud can take place on computer programs such as chat rooms, e-mail, message boards, or Web sites.

I hope this helps pin point the understanding of the term and make it more clearer.

Internet Fraud Definition: Phishing Acts and Examples of misusage

I have found a very informative documentary on ways hackers and internet mis-users use the internet to preform their illegal activities. It is titled " Internet Fraud". As you can tell the documentary producers were not very creative with the title. However were very informative with the video post. I have decided to upload it to the blog to further enhance the knowledge around what this term means and revolves around.


Link

Reuters: US Fails to Prosecute Internet Fraud !

I came across an interesting article that i thought i should share. Internet fraud in all its forms apparently is causeing a headache to many states as stated by Reuters that eight states have them as the top three most difficult issues they have to handle.

The Subtext outlined on the article was " While Web users drown in spam and fend off scams aimed at stealing their money, U.S Federal and state law enforcemenet authorities are doing little to resolve what has become a multi-billion dollar problem."

I believe that this is a concernas the world is evolving towards adding the word " Internet " to the necesties of survival in between water, food, shelter and clothing !

Estiamtes showed a cost of $7.1 Billion in 2007 for spware, viruses and phising costs. Which is as the article states $2 Billion higher than the year before showing a very high increase annually.

The article is very interesting showing the involvmenet of government or the lack of according to concerned individuals and the affect of this on societies all over the globe.

A Link
http://http//www.reuters.com/article/idUSN1250245520080812