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Essay / Research Paper Abstract
This 10 page paper looks at the issue of e-commerce fraud, the extent of the problem; the way scams are perpetrated, problems dealing with fraud, fraud prevention and the cost of controlling fraud. Bibliography lists 5 sources.
Page Count:
10 pages (~225 words per page)
File: D0_HVEcomm.rtf
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Unformatted sample text from the term paper:
one of most current concern, is credit card theft. Cyber-theft, despite the best efforts of professional security companies to slow or stop it, is growing at a tremendous rate.
This paper examines the issue of e-commerce fraud; the extent of the problem; the way scams are perpetrated, problems dealing with fraud, fraud prevention and the cost of controlling
fraud. Extent of the Problem E-commerce is the single most heavily targeted industry for fraud (Report identifies more attacks, 2005). A report dealing with the Australian banking industry
says that of all attacks, 16 percent were against e-commerce concerns (Report identifies more attacks, 2005). This is a 400-percnt increase over the previous six months, and while the
reason for the skyrocketing number of attacks is uncertain, it may indicate that attackers are no longer motivated by a desire for publicity, but are now seeking economic gain (Report
identifies more attacks, 2005). The upswing in numbers described above continues a trend that has been on-going for years. It was predicted in 2003 that the 2004 figures would
show a jump of 37% in e-commerce attacks (Barlas, 2004). Thats almost unbelievable, and makes internet crime possibly the fastest growing home-based business in the world. Fraud continues to
rise despite the best efforts of companies to fight it. The reasons why companies are getting beaten is that "fighting online crime is tough" (Barlas, 2004). Consumers buy billions
of dollars worth of goods online each year, and the market is increasing, which makes it a tempting target. Fraud accounts for approximately 2% of the total, which is
a huge amount of money. Companies are fighting the crooks; in 2004, they increased the number of orders they manually check by 65% from 2003; the number of
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