IndexCyber ​​FraudCauses of Computer FraudTypes of Computer FraudCredit Card FraudPhishingIdentity TheftFinancial Identity TheftMedical Identity TheftCriminal Identity TheftConclusionIn today's world, due to the advancement of technology, the number of computer-related problems has increased. Especially when it comes to misuse of computers and similar devices. There are people who use computers to deceive others in various ways, such as system hacking, email hoaxes, sales and investment fraud, hacking, identity theft, ransomware, and online scams. Anyone who uses a computer connected to the Internet is a potential candidate for cyber fraud. The rate of computer fraud is increasing every day as the use of the Internet in the world increases, the number of people who use their computers and the Internet in the right way, but there are some who intentionally use computers to bring down organizations, companies commercial and to obtain people's personal information. Furthermore, due to the implementation of the current legal legislation, criminals have started to be tracked down and punished under the Computer Misuse Act of 1990. This act was planned after the 1987 Regina v Gold and Schifreen case, in which two Individual hackers remotely accessed BT's Prestel service at a trade show using the credentials of a BT engineer. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Computer Fraud Ultimately, computer fraud is defined as illegally taking control or stealing information without others knowing, computer fraud can occur in any form; incorporates fraud committed by a representative of an organization using the computer to steal funds or information from the organization, although some individuals use deception to access individual resources. Therefore, the type and method used to commit cyber fraud differ from individual to individual based on the need to commit it. Causes of Computer Fraud The main cause of computer fraud that is committed is to earn money or steal information from large organizations, for example, or to steal funds. There are few people who don't care about money or information but just want to bring down the organization or person so that they can reveal their secrets and there are some people who do it for fun. Types of Computer Fraud Computer fraud can be classified into a number of types depending on the fraud committed, but the main categorizations of fraud are mentioned below. Computer fraud and crimes occurring today fall into the following categories: Internet auction and bid sales fraud Phishing Credit card fraud Email hoaxes Letter scams Ad ware Information hacking Identity theft Investment schemes Virus attacks and worms. These types of cyber frauds I mentioned are caused by the advancement of technology, and crime is still on the rise around the world. There are several ways we can prevent computer fraud besides legal regulation, such as paying attention to scams circulating on the Internet to protect the system and the information stored within it. The three forms of computer fraud I will talk about are credit card fraud, phishing, and identity theft. Credit Card Fraud Credit card fraud is any type of theft or fraud involving a credit card. The main purpose of credit card fraud ispurchasing goods without paying for them or stealing money from someone else's credit account. When it comes to credit card fraud, there are types which can be divided into various types of card fraud into four areas which are: Lost and stolen cards that are used without the owner's permission. Card details such as card number, cardholder name, date of birth and address are stolen very often from online databases or via email scams, they are then sold and then used over the Internet and via mobile phone. Credit cards that are skimmed, which means that a card has been cloned or has been copied using a special swipe machine to create a duplicate credit card. Fraudulent applications using someone else's name for a new credit card without the person knowing. When a credit card fraud crime occurs, normally the victim of the fraud will not be liable for unauthorized payments to the card during the fraud, as they are covered by the Consumer Credit Act 1974. This means the victim can claim reimbursement of money lost due to the crime of fraud. There are also circumstances that cause the victim not to recover all the money, for example if you behave negligently by not paying enough attention to the security of your card and its data or when the bank might say that you were negligent and did not would do. refund the money to the victim, for example if it has been more than 13 months or more since the fraudulent activity occurred on the card or if you have acted fraudulently, for example by pretending that a payment was not made by you when in reality it was or if the bank can provide that person authorized the transaction. In the UK for credit card fraud the maximum penalty for this offense is imprisonment of up to ten years or a fine or both, but maximum sentences are usually reserved for the most serious cases. Phishing Phishing is a cybercrime in which a target or targets are contacted via email, telephone or SMS by someone posing as a real institution to trick people into providing sensitive data such as personally identifiable information, details banking and credit card information and passwords. The information is then used to access the person's important accounts and can lead to identity theft or financial loss. There are five common types of phishing attacks which are: Email phishing Spear phishing Whaling Smishing and vishing Fisherman phishing The law in the UK is gradually adapting to tackle phishing and other forms of cybercrime. Upcoming amendments to the Computer Misuse Act 1990 (in the Police and Justice Act 2006) aim to update it with computer crime developments and increase penalties for infringement (up to 10 years' imprisonment). Meanwhile, the Fraud Act 2006 resolves uncertainty over whether offenses under the previous anti-fraud law applied to activities such as phishing, and introduces new offenses to better equip police and prosecutors to meet the challenge of combating fraud in 21st century. Tackle phishing by configuring the crime of false declaration, even via email or internet, with the aim of obtaining a profit for oneself or others or of causing damage to others or exposing others to a risk of loss. Similarly, the Fraud Act addresses several aspects of cybercrime, for example by introducing the offenses of possessing software or information for use in fraud and of making software knowing that it is designed or adapted for use in relation to fraud. Crimes under these laws are punishablewith fines and/or imprisonment of up to 10 years. Identity Theft Identity theft is a specific form of fraud in which cybercriminals steal personal data, including passwords, credit cards, Social Security, and other sensitive information, for example, usually as a way to gain financial advantage or to obtain credit and other types of benefits using another person's name. In the UK identity theft is a punishable offense where an individual can get up to ten years in prison or receive a fine or both. The maximum duration is normally respected for the most serious cases. Identity theft is inevitable nowadays, and here are many reasons why identity thieves target your personal information. From financial gain to malicious motives and there are different types that need to mention a few: Financial Identity Theft Financial identity theft is one of the most common types of theft. In most cases, the identity thief is trying to get a credit card, a loan, or simply buy things by pretending to be someone else. This can be tremendously damaging to the victim's credit score and their ability to get a loan in the future. Medical Identity Theft Medical identity theft occurs when a person uses another person's personally identifiable information to fraudulently obtain medical services, prescription drugs, or medical insurance coverage. This type of identity theft can be very expensive and a complicated crime to solve. Criminal Identity Theft Criminal identity theft typically occurs when an individual provides false information to the police when arrested. Occasionally, criminals obtain state-issued IDs using identifications that they stole from someone else or simply created a fake ID. If this type of fraud works, criminal charges could be filed against the identity theft victim and the real criminal could be off the hook. Sometimes the victim may need to track down the police officers who made the original arrest and prove their identity. You may also have to attend a court hearing to be cleared of the charges. In the UK the punishment for this crime can be up to ten years' imprisonment or a fine or simply both. The maximum sentence length for this crime is usually reserved for the most serious cases. Conclusion After all the basic discussion on the concepts and causes of cyber fraud, we will discuss the legal regulation issues related to cyber fraud which tells how the legal regulation guidelines prevent or reduce the growing rate of cyber fraud in today's developing world of technology development. Most legislative changes are achieved by altering and extending existing law to suit new circumstances rather than by introducing entirely new legislation. This can sometimes make it difficult to locate a solitary place where the entire territory of the law is clearly delineated. The Computer Misuse Act was established in 1990 and remains the essential piece of UK legislation focusing on the misuse of computer systems. It covers computer fraud, such as hacking and the deliberate spread of viruses, and is designed to prevent unauthorized access to or change or modification of computer systems and to prevent criminal elements from using a computer to further the commission of a crime or obstruct or prevent access. to information stored on a computer. “In 2004, MPs – particularly the All-Party Internet Group (APIG) – have.