If you, like the millions of people worldwide, have an e-mail address, the chances are you’ve gotten one of these fraudulent emails. There are those that tell you that millions of dollars of government funds are waiting for you ( the most famous of which is probably the Nigeria internet fraud. There are other emails that seek your assistance to help transfer huge sums of money across national borders (for a healthy commission of course). There are still others that offer to provide you with unbelievable discounts from products ranging from Viagra to the latest software. All of them sound too good to be true, most probably are but, without exception, they come under what has come to be known as Internet fraud or scams and are common in todays fast moving information highway environment!

Internet fraud is much more than an old fashioned conventional fraud being committed online. In fact, it is much more powerful than conventional fraud as the perpetrators of Internet fraud could operate from anywhere in the world and can fleece unsuspecting consumers from thousands of miles away! Ever since banking went online, fraudsters have emerged, seemingly from under the woodwork, worldwide. And they are hitting people like you and me with impunity, and more shockingly, indulging in internet fraud worth billions of dollars every year.

The method of Internet fraud operators is actually fairly simple. Most fraudulent online offers promise money or discounts on things that most people cannot resist. Others offer loans, mortgages and financial services (even if you have bad credit!) Still others lure you with promises of getting you those unsecured credit cards, lousy credit mortgages and other attractive goodies. But remember, no legitimate business will want to have dealing with you if your credit history is bad even if that unsolicited e-mail that promises you they can help. This is a prime example of Internet fraud – focussing on peoples needs and wants, particularly in poor circumstances, and promising them anything they want, all dressed up to look like a legitimate offer (some of these con merchants are very inventive!).

Other examples of Internet fraud are offers (especially from Nigeria and other African countries) which offer you large commissions to help transfer millions of dollars to your account due to a death or change of government. Sounds easy right? Think again. Just last year, hundreds of people were conned out of millions of dollars by these fraudsters. And that does not include those who were foolish enough to actually follow-up on these online e-mails and end up with life-threatening confrontations with money-hungry criminals who steal everything they own and often force them to empty their bank accounts at gunpoint!

But not all Internet fraud is aimed at greedy people. Even regular users of the Internet like you and me could end up being victims of Internet fraud. Phishing is the most common of these. Emails pretending to be from your online banking company or paypal account, fraudsters try and get hold of your account details by diverting you to and making you log in to a fake website. Once they have your account details, they log-in and withdraw all your money. Phishing may also occur over the telephone, where fraudsters ask for your details and then use it to steal your money. I get these almost every day from numerous “banks” asking me to “update my information”, the best one I have seen is a paypal email which sends you to an exact copy of the paypal site and the only giveaway is the secure site logo is not enabled on the browser! It is very easy to fall for these schemes if not careful.

The best way to stay clear of such Internet fraud attempts is to use your common sense. No authorized representative from a company will ever ask for your personal account details like log-in names, pin numbers or passwords. If they do, they are most likely fraudulent. No offers of sudden wealth ever come about in the real world. If they do, they are most probably Internet fraud attempts. Get rich schemes, unsolicited offers to get you loans, free credit cards and other such offers are also fraud havens. It is better to keep your eyes peeled, your personal details to yourself and a watch on websites like www.fraud.org and www.ifccfbi.gov for the latest on Internet fraud. Not only do these websites provide tips on how to avoid fraud, they also list out the most common examples of Internet fraud and guide you to remedial action if you have had the misfortune of becoming a victim.

The golden rule is – if it seems to good to be true, then it probably is!