Electronic fraud involves the use of deception to obtain funds from individuals and entities. via electronic means. There have been an upsurge in the incidence of electronic fraud arising from business email compromise and romance scams.
Business email compromise occurs when the official emails of executive or an employee of a corporation is taken over via phishing tools. it could be as result of theft of the log on details. when this happens, the fraudsters then send payment instructions as if they were genuine. This could result in losses amounting to millions of dollars for a corporation.
Romance scams target the old and lonely. The scammers get information about their targets via social media platforms. In some instance, the scammers work in groups and pass on the victims.
From the foregoing, these fraud schemes can be mitigated via awareness and ensuring that the perpetrators face the maximum justice available for these crimes. Also, corporations should invest more in implementing information security softwares within their systems to help prevent the fraudulent take over of business emails.
Electronic fraud involves the
use
of deception to obtain funds from individuals and entities.
via
electronic means. There have been an upsurge in the incidence of electronic fraud arising from business email compromise and romance scams.
Business email compromise occurs when the official emails of executive or an employee of a corporation
is taken
over via phishing tools.
it
could be as result of theft of the log on
details
.
when
this happens, the fraudsters then
send
payment instructions as if they were genuine. This could result in losses amounting to millions of dollars for a corporation.
Romance scams target the
old
and lonely. The scammers
get
information about their targets via social media platforms. In
some
instance, the scammers work in groups and pass on the victims.
From the foregoing, these fraud schemes can
be mitigated
via awareness and ensuring that the perpetrators face the maximum justice available for these crimes.
Also
, corporations should invest more in implementing information security
softwares
within their systems to
help
prevent
the fraudulent take over of business emails.