Best Sites with Internet Fraud Tips
| By Daryl-Lynn Carson Toronto Freelance Writer Canadian business organizations should quickly finger Internet fraud as a top priority, a national fraud conference was told. Walter W. Manning, CFE and director of the Techno-Crime Institute based in Plano, Texas,, said cybercrooks are proliferating and are searching to steal not just money, but information and privacy also. He noted that while traditional schemes such as pyramids and chain letters are inundating the Internet, high-tech fraudsters are targeting investment and securities, electronic commerce and all kinds of business transactions. Money Launderers are also successfully using the Internet to transfer crime proceeds from one account to another, he said. Speaking at the Association of Certified Fraud Examiners Toronto Chapter's annual, national conference last month in Toronto, Manning, a 20-year veteran of the Dallas Police Department, outlined some safe-guards that businesses can take now - and some that are being developed - to curb Internet fraud. "The Securities and Exchange Commission is extremely concerned about the use of the Internet to execute investment fraud," Manning said. It cites "one of the most attractive features of on-line computing is communicating to a large audience without spending a lot of time, effort or money." Stocks sold by "brokers" claiming to have "inside information" is a significant concern because the postings appear legitimate and a quick return is promised. Even though there are a lot of legitimate offers, "investors should take extreme care before taking action on any proposal that they receive via the Internet," said Manning. Making purchases by electronic commerce is safer than many people claim, Manning said, although technology, such as "e-checks," is being tested and when developed, paying for goods and services will become more secure and inexpensive. Manning stressed that firms doing business must ensure adequate customer validation while also ensuring payment is made before shipping. Digital signatures will also make the Internet more secure when they become more widely used, he said. Potential users should research Internet vendors before purchasing any kind of product. Corporate espionage is also a growing concern on the Internet, Manning said, including the popular use of "mail bombs." "Mail bombs can be generated through the use of programs that can be found on almost any hacker website. These programs allow the creation of thousands of e-mail messages to a targeted company and/or web mail server," he said. When implemented, the thousands of mail bomb messages can overload and even crash a targeted computer. Denial of Service attacks are also used to create a connection between tow Internet computers, which renders a portion of the target computer's resources unavailable for other services. Manning said one query on one of the Internet search engines for Denial of Service Attacks yielded 17,000 matches. Meantime, Manning provided a list of helpful Internet sites that out-line up-to-date methods of electronic fraud and ways to detect and avoid them. |
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