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Have you or your business been a victim of internet fraud in 2008?According to the 2008 Annual Report of the United States Internet Fraud Complaint Centre there was a 33% increase in fraud complaints. All around the world internet crime is on the rise and the Global Financial Crisis will see individuals under increasing pressure. If you were a victim did you report it?

In you are in the United States the link to lodge a complaint is here : http://www.ic3.gov/complaint/default.aspx

If you a victim it is not much comfort to know that this is a world wide trend that is growing annually. Those that are committing the frauds are very innovative in the scams that they dream up. Here are a few that have arisen recently:

• Swine flu scams
• SMS windfall
• Credit card scam targeting small businesses
• Government stimulus package scams
• Bushfire appeal scams
• Your computer is infected scams
• Inheritance scam

Cyber fraud in small business

Cyber fraud will rise as employees come under financial pressure and if you are a small business owner be sure you understand the risk management techniques

This is what the Amazon editorial reviewers said on the top 5 star book on the subject:

Avoiding Cyber Fraud in Small Businesses: What Auditors and Owners Need to Know

The average small business has a life span of about five years, and inadequate internal controls are the main cause of failure. Cyber fraud, the leading culprit today in internal criminal activity, occurs when advanced technologies are used to steal money or property. The majority of such crimes occur in-house, and the lack of sufficient capital and technological resources committed to protecting company assets makes small businesses especially vulnerable. Awareness of the dangers of internal theft by computer, illegal access to information systems, credit card fraud, and Internet scams is integral–especially as auditors, business owners, and managers are increasingly held responsible for negligence.
Providing critical guidance on what auditors and businesses can do to better prevent and detect the growing number of occurrences of cyber fraud, the information in this one-of-a-kind manual:
• Protects outside auditors by supplying the knowledge to ensure they meet their responsibilities
• Protects small business owners by providing them with the necessary tools to meet due diligence requirements in cyber fraud prevention
• Focuses on the key areas of vulnerability
Take the first step in protecting your company–and your future–with Avoiding Cyber Fraud in Small Businesses, the only book committed to helping you keep your small business free of computer crime.

From the Inside Flap
As a businessperson in the twenty-first century, you have become a member of Cyberland. Whether you were an early technology enthusiast or a stickler for the tried and true, your company is now computerized, making it both more effective–and more vulnerable. In addition to all of your previous responsibilities, you now have another concern–cybercrime. And it is, indeed, your concern, as the major causes of the increase in this type of crime are employees who understand computers and security–and owners and managers who don’t.
Avoiding Cyber Fraud in Small Businesses is the first book designed to empower auditors, managers, and small business owners–the ones who are held accountable–with the knowledge required to prevent and detect criminal activity within their organizations. Provided here is the guidance and information you need to learn how to:
• Be aware of the dangers of internal theft by computer, illegal access to information systems, credit card fraud, and Internet scams
• Ensure that adequate prevention and detection controls are in place
• Locate and properly utilize the appropriate outside advice and expertise
• Understand your company’s legal obligation to protect assets
Including an overview of the various laws covering computer crime, intellectual property, workplace and employee problems, tort law, and compliance programs,Avoiding Cyber Fraud in Small Businesses will serve as an indispensable weapon against the most prevalent internal problem facing small businesses today.


I have placed myself on a Scam Alert email database and I will complete a blog post on any new innovative internet frauds as they are reported

Jack Taggerty

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