Internet Fraud Every day, fraudsters and hackers find new ways of making a quick buck via the internet. In that regard, the need to familiarize oneself with the principles and measures necessary to avoid falling victim to internet fraud cannot be overstated. This text largely concerns itself with internet fraud and the measures individuals should take to protect both themselves and their businesses from the same.

Internet Fraud: An Overview

Fraud according to Newman (2009) is "a deception deliberately practiced in order to secure unfair or unlawful gain." Thus in basic terms, internet fraud is any fraud executed via the internet. With the growing popularity of ecommerce in which case businesses and individuals actively engage in online trade, online fraud will most likely become even more lucrative. It thus makes great sense for individuals to equip themselves with the necessary skills so as to protect both themselves and their businesses from online fraud.

Protecting Businesses and Individuals from Internet Fraud: Proposed Strategies

Internet fraud can assume various forms including but not limited to auction fraud, non-delivery of merchandise, investment fraud etc. (Federal Bureau of Investigation -- FBI, 2012). Identity theft is yet another form of internet fraud. Knowing how various internet frauds are executed is the very first step towards protecting oneself from the same.

With an auction, it is often easy to get an item at a bargain price. With this in mind, many buyers are turning to online...

However, wining a bid in an online auction and paying for the delivery of the said item does not guarantee the delivery of the same. Further, bidders in this case risk receiving damaged products or items of debatable value. To protect oneself from online auction fraud, the FBI (2012) recommends a number of measures. To begin with, one should try to learn as much as possible about a seller. When dealing with a business, it is recommended that one checks out more information about the entity from the Better Business Bureau - BBB. One should also examine what previous buyers have to say about the entity i.e. via the feedback they provide. Further, according to the FBI, it is better to settle any payment using a credit card as this enables the buyer to dispute charges in the future should something go wrong.
Non-delivery of merchandise has got to do with the failure of the seller to deliver items after accepting payment for the same. To avoid falling victim to this fraud, the FBI recommends that the buyer purchases merchandise from only those sources deemed reputable. Just like is the case with online auctions, the FBI (2012) further recommends that individuals make purchases using their credit cards as this makes it possible to dispute charges should anything go wrong.

Investment fraud can take several dimensions. A quick review of literature clearly demonstrates that over time, people have fallen victim to numerous online investment scams including…