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What is Fraud?

Fraud is a crime. It involves deception and misrepresentation in order to make money. Deception could involve manufacturing counterfeit credit cards or padding up insurance claims, or making false claims to receive mortgage loans you wouldn’t have received otherwise.

Fraud costs hundreds of millions of dollars a year in damages and affects hundreds of millions of people. Unfortunately, no one is completely safe from being defrauded. But knowing how to recognize a fraud, like a bank fraud or an investment fraud, will better help you protect yourself and your finances.

As more and more people opt for online banking and paying their bills online, it’s a good idea to find out What is Internet Fraud? And ways to better protect yourself from fraudsters lurking on cyberspace.

Learn more about the less common frauds and how to prevent them from happening to you. Less common fraud schemes include:

 

  • Distributorship and Franchise Fraud
  • Home Improvement Fraud
  • Telemarketing Fraud
  • Land Fraud

If you're wondering the motives behind all these fraud schemes, read our article The Psychology of Fraudsters. And find out the different reasons why fraudsters come after your money.

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With the advent of wireless Internet, more and more computer users are entering the world of cyber space.

Yet, while these users are well aware of the importance of the protection of their computer when hooked up to regular internet providers, they are often oblivious to the fact that the same cyber dangers, and in fact even more, exist in the world of WiFi.

What you may not know is that same Internet connection that makes it possible to check your email from the comfort of your bed also makes it easier for hackers to access your personal information.

It is for this reason, the sharing of the wireless Internet connection, that protecting your computer when wireless is even more important than ever before.