Any crime that involves the use of a computer and a network is usually referred to as cybercrime. Along with the benefits of the electronic and data processing machines, computers, comes the dangers of them. They could be used the tool of the crime or it could be the victim/ targeted. One of the most common cybercrime committed is computer fraud, which is defined according to encyclopedia as “any technique aimed at manipulating information within a computer system for the purpose of illicit, usually financial, gain”. In the case of the RBS WorldPlay, the computer fraud committed led to ATM and payment card fraud. ATM fraud refers to fraud with the use of an ATM card whereby the perpetrator of the crime uses the card to immediately withdraw funds from a consumer …show more content…
Payroll debit cards provided by RBS
WorldPay are used by different companies, around the world, to pay their employees. The payroll debit cards enables employees to withdraw their salaries (pre-set limit) from any ATM as they are made available. It was also used in buying merchandised from approved vendors.
In 2008, there was discovery of some fraudulent activities in about 100 payroll cards. With the use of ‘sophisticated hacking techniques”, a group of hackers were able to crack the encryption system /data used by RBS WorldPay. The involved parties in this case are Sergei Nicolaevich
Tšurikov and is group, the offenders, and RBS WorldPay, the victim. The compromised database gave them access to all accounts on the system; enabling them to make whatever changes to them.
The group raised the account limits of the targeted accounts; giving them access to withdraw more at a time. They were also involved in creating about 44 counterfeit payroll debit cards; which were distributed to people who were involved in the withdrawer of money from the accounts. With the help of a large network of “cashers” in more than 280 cities, including cities in the United
A check is defined as a written order on a bank or banker payable on demand to the person named or his order or bearer and drawn by virtue of credits due the drawer from the bank created by money deposited with the bank. (Mallor, Barnes, Bowers & Langvardt, 2013) With that definition, we can conclude that check fraud is the reproducing of legitimate account information by printing false checks or altering original checks by using chemicals. Business and financial institutions alike avoid falling victim to this white collar crime, which remains one of the biggest challenges for them. There are many different types of check fraud, which we will discuss however; we will go into depth on only one.
Computer crime has been an issue since the beginning of computers. Wherever there is something good, there is always someone who takes advantage of it. This can be seen in cyber crime, which has been on the rise in recent years. According to the Los Angeles Times, the median cost of computer crime to a company per year has risen from $3.8 million dollars in 2010 to $5.9 million. (Rodriguez, 2011) This suggests that computer crime is becoming an even bigger hazard to companies. A recent example of this was the data breach committed against Target in 2013.
Nowadays, hacking systems which get the data from payment card in retail stores is a popular issue. The use of stolen third-party vendor credentials and RAM scraping malwares were the main reasons for the data breach. A brief introduction of when and how the Home Depot’s data breach took place and how the home depot reacted to the issue and rectified it by
The primary use of stolen identities is for credit card fraud which can occur by an offender placing charges on a victim’s existing cards or by opening new accounts in his or her name. A common activity for these fraudsters is to change the billin...
Report to SSB Board of Directors Antonio Collins MEMORANDUM TO: Super Secure Bank (SSB) Board of Directors FROM: Antonio Collins Cryptographer Computer Security Divisions DATE: October 5, 2014 SUBJECT: Suit stating that transfer of money was made by forged email. Facts: Super Secure Bank (SSB) and bank manager Bob are co-defendants in a recently lawsuit filed by one of Super Secure Bank (SSB) high net worth customers, Alice. Alice opened one of her monthly bank statements and noticed there was a $1,000,000 debit transferred out of her account.
In discussing the relevance of payroll control to fraud prevention in a payroll system, one must look at the various opportunities that exist for this type of fraud as it affects both the employees and the employers of labor. Payroll fraud schemes are most damaging to a company or organization because they tend to take place over a long time. According to the (ACFE) Association of Fraud Examiners, the median duration between the start of a payroll fraud scheme and its detection is about 24 months, enough time to do significant damage. Simply put, payroll fraud can be defined as employees cheating the system at their place of employment in order to receive funds to which they are not entitled. Sadly, it is often long term trusted employees who
There are different types of computer crimes that many people become victims of every day. Computer crime is any crime that involves a computer and a network. The computer may have been used in the commission of a crime, or it may be the target ("Computer Crime: Chapter 2: What Are the Crimes? ", n.d.) - " Crimes such as data diddling, pump and dump, social engineering and spoofing are computer crimes. Even though these crimes are difficult due to privacy issues, the new technology has made investigations and prosecutions well organized and effective.
Every day millions in some cases billions of dollars are made by businesses from income brought in by online sale of products and services. As businesses continually develop and expand their client base with online products and services so does the desire by criminals to exploit vulnerabilities in their e-commerce setup. The mass worldwide internet usage growth within the last 20 years has been “an approximate 16 million users in 1995 to an estimated 2,937 million in March of 2014” As the importance of e-commerce increases so does the need to protect the technological infrastructure that will carry out online transactions for each business regardless of its size. I will attempt to highlight and review the history of a few cyber crimes to show the progression of the crimes within the last 30-40 years. I also plan to review how the economy and consumers are impacted by cyber crimes. Finally I will make an effort to contribute with information gathering on how to lower the risk of a cyber attack from and individual user to a large scale business.
This type of fraud has to do with shipping. Criminals send fake emails out from a company such as PayPal, saying that the money is being held until the victim replies to the email with a tracking number. When the victim gives the requested information, the criminal ignores the victim completely and takes their money.... ... middle of paper ... ...
Computer Crimes come in a variety of names and can include hate crimes, telemarketing and internet fraud, identity theft and credit card account theft. These are considered to be cyber crimes when the illegal activities are committed through the use of a computer and the internet. It is very difficult to gauge the amount of damage and/or financial loss that has resulted from computer crimes. Many times the victim does not even know that they have been targeted or even that they are a victim. Those that do realize that they are a victim of a computer crime many times do not report it to the authorities or have no way of knowing what caused them to be a victim in the first place. There is a wide variety of computer crimes, many ways in which they work and how they affect both the computers and the lives of the people they have targeted.
These types of crimes have become a matter of importance for the consumers as well the business firms because it involves large eviction of the amount in terms of money. In these types of crimes, computer and Internet are the primary factor (Spinello, 2000). A high percentage of population is using computers in the Australia, United States as well as other developed nations. These people are much more connected with the world by the use of internet. They are using the computer for fun, business, e-commerce, e-marketing, etc.; thus, it has become an essential part of life and daily routine (Wall, 2008).
Cybercrime is a global issue plaguing the world. The dictionary defines cybercrime as “crime conducted via the Internet or some other computer network”(Merriam-Webster). The definition remains very broad because the word “cyber” is defined as “relating to the culture of computers, information technology, and virtual reality.” Due to the growing number of people gaining access to the internet, rapid development of technology, and the globalization of the world, more of the world population is becoming susceptible to involvement in cybercrime – whether it be as a victim or a criminal. Cybercrime involves different levels of the world on both the victim and criminal side, from an individual citizen, to small groups, businesses, and the government, to the countries of the world.
Computer crime or Cyber Crime is defined as any type of crime that involves or regards a computer or computer network. Cyber Crime mainly means that the computer may be used as a tool in the commission of the crime or the computer may be the main target of the criminal’s crime. The rapid growth of technology and gadgets as well as the further de...
Just as traditional criminal activities, cybercrime can take many forms and occur virtually anytime and anywhere. Criminals committing cybercrime use very different methods, depending on their abilities and goals. This should not surprise anyone after all cybercrime is merely an activity "criminal" to the ingredient that adds a computer or an electronic network for its commission.
Cybercrime refers to all forms of crime conducted through a computer or a mobile device using computer networks. It is thus the use of a computer with the aim of intercepting and manipulating content, disrupting communication, stealing or generally destroying others’ information or hardware through a network. Although cybercrime is a worldwide problem and affects both small and big companies, small companies are affected more from the dangers of cybercrime. The rapid advancement in technology is causing tremendous problems to businesses in terms of more sophisticated cyber-attacks. This project is interesting and beneficial because it enlightens one on the dangers of cybercrime, thus preparing individuals to know how to prevent attacks while online, how to reduce the effects of a cyber-attack and how to prevent future