Growing Global Internet Menace

Global Internet fraud is increasing so quickly and wildly that no one can devise a reliable rate of growth. But all fraud examiners know that they need to recognize the major types of Internet fraud and adhere to the "best practices" of protection. 

Recently, a 19-year-old Houston, Texas, man pleaded guilty to tricking hundreds of Internet users into providing him with their credit card and bank account numbers through a classic "phishing" expedition.

He sent e-mail messages indicating that an account would be suspended unless the customer updated the personal information requested. A hyperlink then took the customers to a copycat Web site that appeared to be legitimate but actually was controlled by the fraudster. Fortunately, this perpetrator was caught but there are thousands of others perpetrating the crime. Internet fraud is still flourishing.