Premium Essay

Cyber Scam

In: Computers and Technology

Submitted By ecoie
Words 2516
Pages 11
CYBER SCAM AND ITS EFFECTS

November 27, 2011

SUBMITTED BY:
FETALVER, FRANCIS
VIOLETA, ROGENE CRIS

SUBMITTED TO:
MRS. MARY GRACE P. ALFANTA

I
Introduction

Background of the Study

Experts and law-enforcement officials who track Internet crime say scams have intensified in the past six months, as fraudsters take advantage of economic confusion and anxiety to target both consumers and businesses. Thieves are sending out phony emails and putting up fake Web sites pretending to be banks, mortgage-service providers or even government agencies like the Federal Bureau of Investigation or the Federal Deposit Insurance Corp. Cell phones and Internet-based phone services have also been used to seek out victims. The object: to drain customer accounts of money or to gain information for identity theft.

Most scams are done by e-mail (Spam). They entice users to give them critical information like usernames, passwords, credit card information, or other types of account information. Most of these e-mails can easily be identified as fraudulent, by identifying a couple of general characteristics.

If someone pretending to represent a company or organization contact you by e-mail to supply them with usernames, passwords or other critical information by e-mail, then you can be certain it’s fraudulent. Today we have something we call SSL (Secure Socket Layer). E-mail is one of the most un-secure methods to send user information and passwords. Most organizations have secure servers, which apply SSL technology to keep your personal information safe.

II
Statement of the Problem

1. What are the different types of cyber scams? 2. What are the signs of being scammed? 3. How can we avoid cyber scams?

III
Relevance of the Study

The relevance of this research to us, as an Information Technology students is that this research gives…...

Similar Documents

Premium Essay

Satyam Scam

...Satyam Likely To Exist Post Scam : Gartner Study 3,300 views Although several companies are trying to have a bite into Satyam Computers, according to Gartner study, the company is likely to exist in its current form. It is expected to discontinue some of its businesses, service lines or cease to exist in certain geographies by 2010. The study indicated that even the name Satyam may not be around by that time, as the company is expected to undergo a complete change, in ownership and organizationally. Satyam’s ability to sign on new clients during 2009 has significantly diminished, says the study. ‘‘In addition, it will be challenged to invest in client engagements, staff developments or R&D, all critical elements for IT services,’’ said Gartner’s V-P for research, Frances Karamouzis. Read more Posted by Satyam Fraud News Reporter on Sunday, February 1, 2009 at 7:46 am Filed under Impact Of Satyam Scam On Indian Economy Ex-Satyam Director Resigns From Sasken Board 1,536 views Serial entrepreneur and NewPath Ventures co-founder Vinod K Dham resigned from the board of Sasken Communications as an independent director, a top official of the communications solutions provider said on Monday. “Yes, Dham has resigned as a director of the company from the board on January 17,” Sasken chairman and managing director Rajiv C. Mody told IANS but declined to elaborate. “We will inform you later, as we are busy with investors and analysts in a conference call on our third......

Words: 1924 - Pages: 8

Free Essay

Keylogger Scam

...Keylogger Scam 2 The word "Key Logger" is also called "KeyLogging". The Keystroke logging is used to track user's key stroke during software development. The typical use of this tool is to increase efficiency of employee in data entry or word processing related work. The tool is also used in software development and for monitoring activities on computers under surveillance or used by government agencies monitoring criminals or parties interested in decoding passwords for computer networks. In order to be able to tell if you have key logger spyware on your computer, you need to know what it is and understand how it works. This spyware is an invisible software program that is used by identity thieves to track your activity online. Unfortunately, it is nearly impossible to know if you have this software on your computer and it does not matter how careful you are, you will never be able to tell if your information personal information is being recorded. This is scary since those who use key logger spyware are usually after your bank account passwords and credit card numbers. The recording of key strokes on keyboard can be done either by software or hardware. The hardware attachment comes portable which can be attached to keyboard for recording. There are some keyboards, which has it already built-in. On software side key logging can be written as software program and then downloaded on computer or computer network, this program secretly records......

Words: 560 - Pages: 3

Free Essay

Cyber Crime

...Title: Student: Professor: Course Title: Date: Topic: Information Law Cyber crime involves criminal activities conducted using the internet and both the computer together with the individual behind it are victims. The Australian Institute of Criminology (2011) finds cyber crime to include fraud, hacking, money laundering and theft, cyber stalking, cyber bullying, child sexual exploitation, child grooming and identity theft. The crimes mostly go unreported making it hard to quantify (Australian Institute of Criminology, 2011). However, the most common cyber crime incidents remain malware code and virus attacks that corrupt software. The Australian Cyber crime Act which was assented in 2001 and commenced on 2 April 2002 added new offences streamlined to check on those kinds of cyber crime that impair the security, integrity and reliability of computer data and electronic communications. They are; a) Unauthorized access, modification or impairment with intent to commit a serious offence, b) Unauthorized modification of data where the person is reckless as to whether the modification will impair data, c) Unauthorized impairment of electronic communications. There is a maximum penalty for these offences. Investigation powers relating to search and seizure of electronically stored data have been increased (Find Law Australia, 2012). Culprits of cybercrime can ignore the realms of Australian jurisdiction and launch an attack from anywhere in the world or even design attacks that......

Words: 1001 - Pages: 5

Free Essay

Scam

...East Circle. There are now three Metros (Delhi, Mumbai, and Kolkata), the fourth Metro (Chennai) was combined in Tamil Nadu circle. For every Circle or a Metro, a separate telecom license is issued. For each license, separate applications are to be submitted. We call a company is having a Pan-India license, when that company has telecom licenses for all the 22 Telecom Circles and Metros. A Pan-India license (in fact 22 licenses) was issued for an Entry Fee of Rs 1,658 crore during an open bidding in the year 2001. This rate eventually became reference rates for licenses issued in future under FCFS policy, and is a matter of scam. Comptroller Auditor General of India (CAG) started auditing of new licenses in March 2010. On 8.11.2010, CAG submitted its report to the President of India in which it estimated the loss on account of 2G scam as Rs 1.76 lakh crore. Apart from this, it also found that of the 122 licenses issued on 10.01.2008, 85 licenses were issued to companies which were not eligible to get license. Initially, a Delhi based NGO, Telecom Watchdog, complained to the investigating agencies. When the investigation was slow or non-existent, later two Delhi based NGOs (Centre for Public Interest Litigation, Telecom Watchdog) and one senior journalist Mr Pranjoy Guha Thukrata filed a PIL in Delhi High Court pleading for Court monitored investigation. It was dismissed. Thereafter an appeal was filed by them in the Supreme Court, which was allowed. Now...

Words: 2183 - Pages: 9

Premium Essay

Satyam Scam and Ethics

...Running head: ETHICAL ISSUES IN SATYAM SCAM 1 A Study of Ethical Issues in Satyam Scam Haresh M Patel (Roll No.2234) B.K.School of Business Management (Evening Programme) Ethical Issues in Satyam Scam Abstract “Reputation is an idle and most false imposition: oft got without merit, and lost without deserving”. Failed institutions, including Lehman Brothers, Enron and Satyam, would stand a testimony to this affray in a post-mortem analysis. This paper discusses corporate ethical issues involved in ‘Satyam Scam’ from a compliance perspective. It makes a distinction between legal and ethical compliance mechanisms and also shows that the legal compliance mechanism has clearly proven to be inadequate as it lacks the moral firepower to restore confidence and the ability to build trust. The concepts of freedom of indifference and freedom for excellence provide a theoretical basis for explaining why legal compliance mechanisms are insufficient in 2 dealing with fraudulent practices and may not be addressing the real and fundamental issues that inspire ethical behavior. The focus of the virtues in governance is to establish a series of practical responses which depend on the consistent application of core values and principles as well as commitment to ethical business practice. In my opinion, No one makes it to the top ranks of corporate management without a healthy amount of self-assurance. Confidence underlies decisive, strong leadership, but does overconfidence lead...

Words: 6230 - Pages: 25

Free Essay

Pdaf Scam

...The 10-Billion Pork Barrel Scam The Priority Development Assistance Fund (PDAF) more commonly known as Pork Barrel is a budgetary allocation that is given to the House of Representatives and the senate from 2006. ₱70 Million for each of the congressmen and ₱200 Million for each of the senators. This fund should be used for financial assistance in development projects which the senate and congressmen would sponsor. However, on August 2013 a public outrage have blasted after whistleblower Benhur Luy have alleged that Janet Lim-Napoles, a Filipino-born Chinese woman was behind the P10 billion scam that also involved several senators and congressmen. They have allocated their PDAF to ghost projects which were “implemented” through Napoles’s companies but have produced no tangible output. Napoles, who specialized in trading agricultural products, frequently used the procurement of agricultural inputs in the propagation of the scam. Either her employees would write to legislators requesting for funds for the implementation of a particular project (e.g. farm inputs), or a legislator would indicate to the DBM a particular recipient agency for his or her PDAF funds that would be pre-selected by Napoles. Once received, this is forwarded to the DBM, which would then issue a Special Allotment Release Order (SARO) indicating the amount deducted from the legislator's PDAF allocation, and later a Notice of Cash Allocation (NCA) given to the recipient agency. The NCA would then be......

Words: 330 - Pages: 2

Free Essay

Cyber Crime

... * Cyber bulling * Who gets bullied * How it is different than traditional bullying ( You get to go home at the end of the day. Cyber bullying follows you around) * What is necessary for search warrant (probable cause) – specific slide that talks about it. * What is phreaking? * Relationship between porn and technological – nice word used in slides * Have idea what cyber stalking victims and/or cyber stalker look like (profile) ex. Women most likely to be stalked, men most likely to stalk. Tend to be young adults. * Describe what critical infrastructure is. (power grid, water supply, distribution) * What are corporate security organizations? (Private, often but not necessary non-profit that deal with computer secrutiy and protecting clients from cyber threats) * What is the biggest group of regulaters on internet? Users. * Define child porn. Individuals under the age of 18 engaging in sexual acts or depicted in sexualized manner. * Niagarian email scam. Social engineering scam. * National Infrastructure Protection Center. * Definition of fraud. If robbery is larsonary by force, fraud is larsonry by deception. Not taking it by force, but taking it by trickery. * Profile for cyber bullying * Profile for media pirate, types, how they are orangized * Filtering internet content. Debate on why should or shouldn’t we, effecitivness, attempts in past. * Cyber stalking laws. * Define cyber......

Words: 422 - Pages: 2

Premium Essay

Cyber-Crime

...“Cyber-crime,” which refers to any criminal activity committed with the aid of or in the arena of the Internet and similar telecommunications, is both a new incarnation of old crimes through a new medium, and a unique entity all its own. It differs from physical crime in four ways. It is easy to commit, requiring minimal resources for great potential damage, being committable in a jurisdiction in which the perpetrator is not physically present, and often, not being entirely clearly illegal. A cyber crime that was committed recently is the “Gozi” virus that infected a million computers including NASA computers and bank computers. The Gozi virus is also known as a Trojan. It infiltrated businesses the way a wooden horse rolled into Troy. The wooden horses, in this case, are the employees of businesses who click on suspicious links in an e-mail, or fail to recognize a phony banking website when they see one. The virus and other malicious software infected individuals' and businesses' computers, and then stole log-in information for online banking and other accounts. One program even imitated a bank's website, tricking users into giving away their PINs and personal information, such as their mothers' maiden names. The worms and viruses released in the twenty first century posses a higher impact in terms of financial damage and loss of productivity. Today’s sophisticated attacks posses a greater damage potential. Hackers are no longer enthusiastic, cyber......

Words: 1335 - Pages: 6

Premium Essay

Hallmark Scam

...Scandal “. This crisis identified in the year 2012 and it has been took place from the year 2010 and finally disclosed in 2012. To learn lesson from this incident and prevent further recurrence, study in depth of this crisis is very important. Background: A central bank probe found that Sonali Bank high-ups, including a deputy managing director, a general manager and the branch manager, were directly involved in the scam. The amount embezzled by the six entities is equivalent to almost 15 percent of the total estimated cost of the $2.9 billion Padma bridge project. Of Tk. 3,547 crore, Hallmark Group alone took away Tk. 2,686.14 crore, T and Brothers Tk. 609.69 crore, Paragon Group Tk. 146.60 crore, Nakshi Knit Tk. 66.36 crore, DN Sports Tk. 33.25 crore and Khanjahan Ali Tk. 4.96 crore. Of the six borrowers, Hallmark has been found to be the biggest fraudster. Analysis and Research: Bangladesh experienced the biggest financial scam in the year 2012 which is commonly known as the “Hallmark-Sonali Bank Loan Scandal “. To understand, analyze and research this scam in depth, let’s look for the answer of the following questions: . What happened? . How did it happen? . Why wasn’t the malpractice prevented or discovered sooner? . What has been the fall out? . Is it Hallmark’s success or failure of Sonali bank? The first question is: What happened? In May 2012, a report from the Bangladesh Bank revealed that, the Ruposhi Bangla Hotel Branch of the state-owned......

Words: 6705 - Pages: 27

Free Essay

Cyber Crime

...CYBER CRIME Application Paper Molly Flannery DeVry University CYBER CRIME Application Paper Cyber crime is a crime committed online, as opposed to the physical world. In a business setting, cyber crime can occur in several instances: scams, identity theft, white-collar fraud, check or credit/debit card fraud, retail fraud, auction fraud, employment fraud, etc. (Miller & Jentz, 2012) Credit-card crime is more likely to hurt merchants and credit-card issuers than the consumer. The financial burden shifts from the consumer to the either the merchant or the issuer when purchases are made with stolen credit card numbers. (Miller & Jentz, 2012) My particular world of business consists of healthcare-related information. For example, being a healthcare carrier, our company stores health information as well as personal information. Names, social security numbers, health diagnoses, etc., are readily available throughout our organization. Not only is this information extremely important to protect, but in the event of someone having a personal health policy, they may have banking information in our system as well in order to automatically have their monthly premiums deducted. This information can consist of credit card numbers and/or bank account and routing numbers. If someone outside the company were to hack into the system, they would have a plethora of information to choose from. Additionally, if we happened to have a celebrity or otherwise......

Words: 382 - Pages: 2

Premium Essay

Cyber Crime

...Cyber Crime Erika Moore CRJU 5500-02F What is cybercrime and how can someone get caught in participating in a cybercrime? Cybercrime any kind of crime committed via the internet or on a computer network.  Cybercrime can be anything from hate crimes, telemarketing and Internet fraud, identity theft, to credit card account thefts. All are considered to be cybercrimes when the illegal activities are committed through the use of a computer and the Internet. How bad could cybercrime really be? “Cybercrime is a type of crime that not only destroys the security system of a country but also its financial system.” (Real Cost of Cyber Crime) Cybercrime is the type of crime that is hard to trace, but once traceable it then opens a whole can of worms. Once our government finds out about cybercrimes usually they find more than what they were looking for to begin with. In the past there have been some cybercrime laws that were insufficient but the law enforcement agencies and government have proposed many plans to help fight cybercrime. Once a cybercrime has been committed and traced back to the hacker punishment is required. “Cybercrime must be dealt with very seriously because it causes a lot of damage to businesses and the actual punishment should depend on the type of fraud used. The penalty for illegally accessing a computer system ranges from 6 months to 5 years. The penalty for the unofficial modification on a computer ranges from 5 to 10 years.”(Real Cost of Cyber......

Words: 3822 - Pages: 16

Premium Essay

Cyber Crime

...WHAT IS CYBER CRIME? Crime is a common word that we always heard in this globalization era. Crimes refer to any violation of law or the commission of an act forbidden by law. Crime and criminality have been associated with man since long time ago. There are different strategies practices by different countries to contend with crime. It is depending on their extent and nature. It can be concluded that a nation with high index of crime cases cannot grow or develop well. This is because crime is the direct opposite of development. It can contribute to negative impact in term of social and economic development. Cyber crime is a new type of crime that occurs in this Science and Technology years. There are a lot of definitions for cyber crime. According to Wikipidia.com cyber crime also known as computer crime that refers to any crime that involves a computer and a network. Cyber crime is defined as crimes committed on the internet using the computer as either a tool or a targeted victim. Besides that cyber crime can be defined as crimes committed on the internet using the computer as either a tool or a targeted victim (Joseph A E, 2006). Computer can be considers as a tool in cyber crime when the individual is the main target of cyber crime. But computer can be considers as target when the crime is directed to the computer. In addition, cyber crime also includes traditional crimes that been conducted with the access of Internet. For example hate crimes, telemarketing Internet......

Words: 1433 - Pages: 6

Premium Essay

Cyber

...advancements and the information technologies used operate the critical infrastructure that feeds the heart of the U.S. economic and people. However, these advancements have also enable a wide range of malicious activities, such as crime, espionage and terrorism. The U.S. and it’s partners are grappling with a number of complex cybersecurity issues ranging from the proper role of government in protecting U.S. intellectual property to the establishment of the global norms for Internet governance. This paper will discuss two emerging technologies, smart and bionics, and will examine the security challenges and cyber threats associated with them. It will outline how these emerging technologies are used by private and government organizations. Dived further into some of the prominent cybersecurity policies and legal implications that might be associated the use of them. Emerging Cyber Technologies There is some much hype about smart technologies such as smart phones; cars and power grids as the technology has proven to be able to move data that is in rest transmit it over the Internet from almost anywhere. Most of the population has become technology-happy these days. Some pore over rumors and specs on technology websites, some even stand in line for days waiting to get their hands on the newest gadgets. Our world has moved from anticipating the new technologies to now demanding it. Most consumers are ill informed when it comes to understanding the number of......

Words: 2506 - Pages: 11

Free Essay

Satyam Scam

...https://www.youtube.com/watch?v=jnRmmDiz5aY https://www.youtube.com/watch?v=bauzUSu2v5k http://www.thehindu.com/specials/timelines/satyam-scandal-who-what-and-when/article7084878.ece http://cbi.nic.in/fromarchives/satyam/satyam.php http://www.dnaindia.com/money/report-all-that-you-need-to-know-about-the-satyam-scam-2067138 https://en.wikipedia.org/wiki/Satyam_scandal http://www.hindustantimes.com/business/satyam-scam-all-you-need-to-know-about-india-s-biggest-accounting-fraud/story-YTfHTZy9K6NvsW8PxIEEYL.html http://www.business-standard.com/article/economy-policy/in-case-of-satyam-issue-is-not-just-about-money-but-biz-ethics-109051100040_1.html http://rammallar.blogspot.in/2013/04/satyam-scam-is-it-failure-of-business.html http://www.termpaperwarehouse.com/essay-on/Satyam-Scam-And-Ethics/198522 http://www.researchgate.net/publication/271133751_CORPORATE_ACCOUNTING_SCANDAL_AT_SATYAM_A_CASE_STUDY_OF_INDIA'S_ENRON (point 5) http://www.scirp.org/journal/PaperDownload.aspx?paperID=30220 https://www.scribd.com/doc/73590653/Satyam-Fraud-Ethical-Corporate-Governance (page 9 onwards imp) http://knowledge.wharton.upenn.edu/article/scandal-at-satyam-truth-lies-and-corporate-governance/ The Satyam Computer Services scandal is a corporate scandal that worked in India in 2009 where chairman Ramalinga Raju confessed that the company's accounts had been falsified. The Global corporate community was shocked and scandalised when the chairman of Satyam, Ramalinga Raju resigned on 7 January......

Words: 1639 - Pages: 7

Premium Essay

Cyber

... CYBER WARFARE Student’s Name Institution of Affiliation CYBER WARFARE Cyber warfare is also commonly referred to as the cyber attack. It involves both the attacks and the counter cyber warfare. By definition, it is an intentional breaching of a person’s or community computer system with an intended to fraud money or steal knowledge from the system. Therefore, it involves manipulation of the computer systems, disabling or to wipe out the aggregate information contained in the system of equipment. It has thus been a stern challenge in the economic and national and the world security. As thus, it has become a primary concern for all business people protecting their ideas not to be leaked, in the military due to the protection of national security and also by the government which has to keep it a secret of all what is happening within it. The issue of the cyber attacks has not been one event but something that has occurred over time as a result of inventions and innovations by the governments and security agencies. It was triggered by the need to safeguard one's interests and at the same time keep secrets that if they leak the competitors or the enemies can use them against you. One of the periods that can be credited to giving birth to the period of developments that led to cyber attacks is 1918 all the way to 1939 whereby there was increased military revolution. One of these......

Words: 1263 - Pages: 6