Premium Essay

Phising and Online Bank Fraud

In: Social Issues

Submitted By adityasda
Words 3597
Pages 15
PHISHING & ONLINE BANKING FRAUD

By,
Aditya Ravishankar
5-BBA-LLB ‘B’
1216452
School Of Law, Christ University
TABLE OF CONTENT

1. Abstract ...2 2. Introduction ...3 3. Statement of Problem ...3 4. Scope and Objective ...3 5. Fraud …4 6. Online Banking …5 7. Banking Fraud using Technology …6 8. Cyber Crime & Online Banking Fraud …6 9. Phishing …7 10. Classification of Phishing ...8 11. Indian Scenario …11 12. conclusion …12 Abstract
Nowadays, almost every bank provides its clients with access to their accounts over the Internet Banks provide a different range of financial services through their Internet banking channels. Different financial Internet banking applications mostly contain money transferring services, investment services (stock, bond, and mutual funds) and currency exchange services. However, as new technologies upset traditional power balances and so does the Internet. The Internet empowers everyone including cybercriminals. Advancement of technology and rapid progression of the hackers’ ability to access various users’ systems maliciously altered their motivations from curiosity to financial motives. Thus Financial Fraud is on rampant increase. This paper focuses on Online Banking Fraud in a general perspective and also looks into Phishing as one of the methods of online bank fraud. The paper follows non doctrinal method of research and concludes with the aspect that there are staunch laws yet without proper enforcement mechanisms and awareness, it will result positively, hence it is of paramount importance to spread awareness and to enforce the strong laws.

Introduction
Frauds occur in almost all facets of human

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