Economic Crimes and Online Fraud
Economic Crimes and Online Fraud CJ 290
Popular in Special Topics: Cybercriminology
Popular in Criminal Justice
This 5 page Class Notes was uploaded by Erica Kugler on Friday September 25, 2015. The Class Notes belongs to CJ 290 at University of Alabama - Tuscaloosa taught by Kellin Treadway in Fall 2015. Since its upload, it has received 31 views. For similar materials see Special Topics: Cybercriminology in Criminal Justice at University of Alabama - Tuscaloosa.
Reviews for Economic Crimes and Online Fraud
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 09/25/15
Economic Crimes and Online Fraud Fraud and Identity Theft 0 Fraud criminal acquisition ofS or property from victims through use of deceptioncheating 0 Advance fee email schemes quotS for me SSS for you later 0 Offender emails a victim and asks them for money In return the offender promises to repay the person with even more money 0 Goal get victim s back account info for future fraudulent transactions steal bank info 0 All so called Nigerian or 419 scams 419 legal code for fraud in Nigeria 0 This type of theft is an example of social engineering 0 Identity theft unlawful use of another s personal identifying info 0 Phishing 0 Email scam to get victims to provide financial info 0 How it works offender sends out a quotbaitquot email message that the victim hooks onto and it caught I Kind of like real life fishing with bait and catching fish 0 Common techniques email spoofed webpages changed URL to mimic real site 0 Workathome scheme 0 Promise of substantial salaries for small amount of work done at home I Ex of work stuffing envelopes selling products cashing checks buying products I quotsecret shoppers 0 Pump and Dump Stock Schemes o Offender inflates stock price then dumps it sell it I Offender benefits while victims lose 0 Counterfeit Products 0 Illegitimate copies of hard goods that otherwise mimic the original product I Ex purses medication 0 Carding 0 Sale and exchange of stolen credit card information 0 Card skimming I Type of theft that involves the stealing of credit card info through the use of a special swipperskimmer 0 Ex gas stations gt offender places the skimmer inside a gas pump machine and when people pay by credit card the skimmer automatically picks up their card info 0 Carding markets gt similar to craigslist I Factors buyer seller messaging I There is a continuum of sellers in electronic black markets that is based on seller reputation o Rippers at left side of continuum Legislation 0 Con artists deceptive advertise a product but either provide false item or do not provide the item at all and just take the buyer s money 0 Unverified seller in the middle of the continuum 0 New seller working to build up a good reputation goal is to become verified o Verified seller at right side of continuum 0 Good customer service and good prices quotveteranquot seller trustworthy 0 Identity document any document used to identify a person 0 0 Document made or issued by or under the authority of the US government winformation concerning a particular individual for the purpose of the identifying individual Ex drivers license birth certificate 0 Identify Theft and Assumption Deterrence Act of 1998 ITAD Act 0 0 It is a crime to quotknowingly and wo authority possess transfer or use the identification document of another person to commit or aid in the commission of illegal activity at the local state or federal level It is illegal to possess the infrastructure to make fake ids I Example of fake idmaking infrastructure card machines hologram machines It is illegal to have 5 or more fake ids in your possession 0 Several Acts were added to ITAD to increase the severity of punishment 0 O 0 Identity Theft Penalty Enhancement Act of 2003 I Add 2 more years to conviction sentence forfelony identity theft convictions I Add 5 more years to conviction sentence for terrorism in which identity theft was used 0 Goal prevent terrorists from securing funds for their attacks Identity Theft Enforcement and Restitution Act of 2008 I Offenders can be ordered to pay restitution to victims Fair and Accurate Credit Transactions Act of 2003 FACT Act I Extended additional protections to consumers 0 Removed credit card info from receitpts o Freed credit reports 0 Credit alerts 0 State legislation 0 States address identity theft differently than the federal government I covered by existing computer hacking statues I language pertaining to computer fraud I have specifically created statues similar to ITAD Act I have created databreach notification laws Regulating Fraud first point of contact regarding fraud cases is usually local law enforcement 0 US Secret Service has primary role in investigating online fraud 0 Financial Crimes Division ECTF Electronic Crimes Task Force 0 FBI gt investigate cybercrimes against financial institutions investigate cyberrelated terrorism 0 Internet Crime Complaint Center IC3 0 Joint operation of the National White Collar Crime Center NWC3 and the FBI 0 ICE and CBP 0 Investigate the use of fraudulent documents and counterfeit currency at borders 0 Federal Trade Commission FTC 0 Key reporting mechanism for victims of identity theft 0 quotindependent watchdog o Focuses on quotthe forest instead of the trees I Doesn t focus on individual cases but rather the larger picture of that crime in order to create avenues to prevent that crime in the future Regulating Fraud Globally 0 UK 0 National Fraud Authority NFA I Similar to IC3 as it accepts complaints from victims 0 National Fraud Intelligence Bureau 0 Canada 0 Canadian AntiFraud Center CAFC o AntiPhishing Working Group APWG o Notforprofit global consortium of industry academia and law enforcement that discussing current phishing attempts and how to prevent them Keywords 0 419 scams 0 Another name for advance fee email schemes Name refers to the Nigerian legal statutes that prosecute fraud 0 Advance fee email schemes 0 Scheme where a spam mail sender requests a small amount of money up front from the recipient in order to share a larger sum of money later 0 AntiPhishing Working Group 0 Notforprofit global consortium of researchers computer security professionals financial industry members and law enforcement designed to document the scope of phishing attacks and provide policy recommendations to government and industry groups worldwide Canadian AntiFraud Center 0 Federal antifraud division in Canada Carding 0 When an individual sells personally identifiable info acquired in some fashion via markets operating online most often involving the use and abuse of credit and debit card info Carding Markets 0 Markets that enable individuals to efficiently engage in credit card fraud and identity theft wminimal effort and limited technical knowledge or skill Data breaches 0 Illegal acquisition of mass quantities of info through hacking techniques Fair and Accurate Credit Transactions Act of 2003 0 US law that provides multiple protections to help reduce the risk of identity theft and assist victims in repairing their credit in the event of identity theft Federal Trade Commission 0 Independent watchdog agency win the US federal govt responsible for consumer protection and monitoring the business community Fraud 0 Wrongful or criminal deception intended to result in financial or personal gain Identification document 0 Document made or issued by or under the authority of a government winfo concerning a particular person intended to serve as a form of identification Identity frauds o Refers to the illegal misuse of a document made or issued by or under the authority of a government UK version Identity theft 0 The unlawful use or possession of a means of identification of another person with the intent to commit aid or abet illegal activity US version Identity Theft and Assumption Deterrence Act of 1998 0 US law that made it a federal crime to possess transfer or use a means of identification of another person wo authorization with the intent to commit or aid in the commission of illegal activity at the local state or federal level Identity Theft Enforcement and Restitution Act of 2008 0 US federal act that allows offenders to be ordered to pay restitution as a penalty to victims of identity theft and enhanced existing laws regarding cybercrime Identity Theft Penalty Enhancement Act of 2003 0 US act that added two years to any prison sentence for individuals convicted of a felony who knowingly possessed used or transferred identity documents of another person Internet Crime Complaint Center IC3s 0 Collaborative effort of the National White Collar Crime Center and the FBI that operates to understand the scope of various forms of online fraud National Fraud Authority 0 UK version of IC3 National Fraud Intelligence Bureau 0 Collects info on various forms of fraud and aggregates this data along wreports from business and industry sources into a large database Pump and dump messages 0 Form of spamenabled fraud that attempts to manipulate the value of corporate stocks Ripper 0 Seller in carding markets who does not provide data after being paid is slow to respond to customers or sells bad data and does not offer to replace their products Personal identification number PIN o Fourdigit number used as a password to secure access to bank accounts Personally identifiable information PH 0 Info that is unique to an individual that can be used on its own or with other info to identify locate or contact a single individual Phishing 0 Using email message to try to acquire bank account info or other valuable info from victims Secret shopper scheme 0 Form of spamenabled fraud where sellers pretend to operate legitimate businesses that are seeking employees who can cash checks and purchase goods with the money Unverified seller 0 Seller in the carding market who has no provided a sample of data to a forum moderator or administrator or alternatively offering malware or other services to be reviewed Verified seller 0 Seller in carding market who has provided a sample of data to a forum moderator or administrator WorkatHome schemes 0 Form of spamenabled fraud where the seller promises recipients substantial earnings for just a few hours of work per day
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'