Fraud, in various forms such as Internet fraud, credit card fraud, and telephone fraud, involves individuals or companies exploiting consumers. The issue of fraud is escalating, with the Internet being a major contributor to its rise. With the ability to impersonate legitimate companies, the Internet enables anyone to deceive trusting customers and unlawfully acquire their money. Additional types of Internet fraud encompass email scams and deceptive advertisements targeting unaware consumers.
There are several types of fraud that have significant impacts on different businesses. One example is health care fraud, which leads to increased expenses for medical treatment. In contrast, credit card fraud requires companies to exercise caution when approving credit card transactions. On the other hand, scams specifically target and victimize individuals who fall prey to them. These scams can take various forms, such as "Free Prize" scams that promise customers a free gift after purchasing a pro
...duct; "Investment" scams that entice customers with lower rates and promises of substantial profits; and "Charity" scams that solicit donations for nonexistent charitable organizations.
Individuals of different age groups, including seniors and teenagers who make online purchases, are affected by scams and fraud. In my opinion, the only way to combat fraud is for consumers to be careful about whom they give their money to. The problem does not lie with the Internet, telephones, or credit cards themselves but rather with consumers' lack of caution and dependability. If individuals thoroughly research the recipients of their funds in advance, incidents of fraud would either disappear or happen much less frequently.
Bibliography
REFERENCES
http://www.emich.edu/public/coe/nice/hangup.html
http://www.fdn.net/
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