Essay on Technology, Privacy and Credit Card Fraud

Technology, Privacy and Credit Card Fraud The advancement of technology over the years appeared to be the greatest thing known to mankind. With the Internet, the world is at ones finger tips and just about anything can be accessed using it. This is not necessarily a good thing, with crimes like creidt card fraud going around. The number of credit card fraud incidents is rapidly increasing as the years progress. Anybody with a credit card could possibly be a victim of this crime and it should be taking seriously. One’s life could be ruined if their information gets into the wrong hands. Around the holidays, most consider shopping via Internet the most safe and convent way to go. You never leave the house, so there is no†¦show more content†¦Denita Dorseys case was moved from 54-B District Court to Circuit Court. The number of incidents and the amount of monetary lost has drastically increased over the past four years. In USA Today, many statistics were given to show the increase. In 1999, the number of reports was 10.7 thousand, and increased to 37.2 thousand by 2003. This was an increase of 26.5 thousand reports. The total of monetary lost in 1999 was $3.2 million, but by 2003 the total increased to $17.1 million. A total increase of $13.9 million. The statistics for 2004 have not yet been reported. Devices have been designed to steal information from automatic teller machines that would allow criminals to obtain account information of others. Unlike credit card fraud, a.t.m. theft is removing cash directly from one’s account. With this crime the banks are to reimburse victims. Methods of committing this crime were listed in The New York Times. There are four ways listed, placing a device in the a.t.m. that captured account numbers and PIN’s of thousands of New Yorkers. There is a fake keypad allowing theives to record PIN’s without opening the machine. Tiny hidden cameras have been placed in the a.t.m. to capture PIN numbers also. The last method mentioned is called a â€Å"false front,† which is a false cover of the machine placed on top of the real machine but it has a fake card reader and a touch screen that records pins. The advancement of technology over the years appeared toShow MoreRelatedEvolution Of Credit Card Fraud Within The Growing E Commerce Industry1716 Words   |  7 PagesA565_section_14447_Tina Pang _Credit Card Fraud_ Final Paper_10/11/2014 I examine the evolution of credit card fraud within the growing e-commerce industry. Online Shopping: Risk of Paying More than You Receive I examine the evolution of credit card fraud in regards of the technology or methodology fraudsters used specifically within the e-commerce industry, and discuss various security concerns companies have for establishing online shopping sites. 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