Prevention of Cyber Fraud - Study Material and Solved Assignments

Running head: PREVENTION OF CYBER FRAUD0
Prevention of Cyber Fraud
Name of the Student
Name of the University
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PREVENTION OF CYBER FRAUD1
Table of Contents
Introduction..........................................................................................................................2
Discussion............................................................................................................................3
Definition and scale of the problem.................................................................................3
Elements of the crime......................................................................................................4
Context.........................................................................................................................4
Criminal Methodologies..............................................................................................6
Victimization...............................................................................................................9
Responding to the crime................................................................................................11
Laws and regulations.................................................................................................11
Prevention approaches...............................................................................................12
Conclusion.........................................................................................................................12
References..........................................................................................................................14

PREVENTION OF CYBER FRAUD2
Introduction
The concept of cybercrime can be defined as undesirable issues that are hosted by
unauthorised users, known as attackers or offenders. These have severe consequences on an
organization and are nearly impossible to separate within an interconnected environment.
Moreover, cyber fraud can be referred to as a deliberate act of unlawfully gaining confidential
information that can be used by the attacker for personal benefits. Credit card theft is the most
common form of cyber-fraud in the recent times (Tuli & Juneja, 2015). Other various forms of
cyber fraud include identity theft, cyberbullying and data break-ins. All of these acts pose serious
damage to an individual or an organization. Often after buying a product or merchandise via
online auctions, the products are not delivered. This can also be concluded as one of the obscure
forms of cyber fraud. The key aim of this report is to establish a thorough understanding of cyber
fraud and cybercrime aspects. This report also reflects some of the cyber fraud incidents that
took place in the past and helps in understanding the legal policies that have been incorporated
by the government and various organizations in order to deal with these threats (Button & Cross,
2017). Although several measures were taken in order to deal with the issues of cyber fraud,
however it had minimal impact on the statistics as the offenders keep finding new ways to breach
the systems. Before implementing strategic policies it is essential to understand the working
framework of the criminals along with the potential aspects of victimisation. After analysing the
vulnerabilities of the individuals as well as the organizations, these strategies can be utilised in
order to avoid the future occurrences of such crimes. Therefore, one of the prime objectives of
this report also involves identifying the suitable law enforcement approaches and framing proper
strategic measures in order to deal with the potential occurrence of a cyber-fraud.

PREVENTION OF CYBER FRAUD3
Discussion
Definition and scale of the problem
There are certain challenges that are faced while accurately measuring the total number
of cyber-crimes that have taken place. Generally, criminologists have a proper understanding of
these challenging aspects. The official statistics do not provide any objective picture as most of
the crimes that are comprised within the report have either been reported to various governing
agencies or are considered to be of negligible importance (Herley, 2014). However, some of the
studies often reflect that most of these incidents remain unreported. There are times, when even
after reporting a particular crime the police may not record it due to several reasons. These
reasons include political priorities where the police may be forced to prioritize a particular case
over the other. As the regulatory laws keep on changing, a particular act that was criminalised
earlier may be decriminalised later thus making it almost impossible to keep an overall track of
all the cyber-crime activities. Due to this reason complications often take place as there are no
track implications of a particular crime. Moreover, since most of the internet crimes have a
hidden nature some of them might get overlooked or unnoticed, thus adding on to the growing
complexities. Although there are various complications while tracking the cyber-crimes, the
available statistical data should not be ignored either (Rutkin & Tugander, 2015). Having partial
information on something is better than not having any data at all. The available data will give
some insights making it relatively easier to incorporate proper strategic measures. Some of the
popular cyber fraud crimes that made headlines in the recent years have been mentioned below
for providing the prevalence statistics:
 The estimation of overall loss that has been faced by the people due to credit card frauds in
the UK is about £290.