INTRODUCTION

Cybercrime encompasses any criminal act dealing with computers & networks called
hacking.
Financial crimes are defined as a crime against property, involving the unlawful
conversion of the ownership of property (belonging to one person) to ones own personal use &
benefit.
Financial frauds are mostly done through e-banking, Online shopping, Credit card, Debit
card, ATM, Credit cards allow the extension of credit and the delay of payment while debit cards
charge or debit cards your account at the moment of the transaction fraud committed using a
credit card or any similar payment mechanism as a fraudulent source of funds in a transaction.
The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an
account. Credit card fraud is also an adjunct to identity theft.
Most ATM frauds happen due to the negligence of customers in using, and more
importantly, negligence of banks in educating their customers about the matters that should be
taken care of while at an ATM. Frauds in India is more in regard to negligence of the (PIN), than
by sophisticated crimes like skimming.
Online trading or internet trading is nothing but the buying or the selling of Various
securities with the help of internet. Phishing is the act of sending an Email to scam the user into
surrendering private information that will be used for Identity theft. Any email that you get from
a reputable institution-eBay, banks, Amazon, etc.- will NEVER, ever, ever, EVER ask you for
your password or your personal security information.
Every site that uses security encryption will have the HTTPS protocol at the beginning of the
URL.
Financial crimes include offenses commonly called "white collar crime" such as
telemarketing scams, investment or pension fraud, elder financial abuse, and identity theft.
Victims of financial crimes represent a tremendously underserved and poorly understood
segment of the victim population. This is due to several factors:

1. The initial emphasis of the victims' rights movement focused on serious violent crime, with little
attention paid to financial crime victims.
2. Lack of research and understanding regarding the serious emotional impact of these crimes on
the victims.
3. Lack of consistency in the response of law enforcement and victim services to these crimes.
4. The fact that in the federal system, and in some states, financial crime victims do not have the
same rights as victims of violent crimes in the criminal justice process.
5. No organized constituency group advocates for financial crime victims' rights and services.
6. Insufficient allocation of resources, including funding for personnel, to provide services to
multiple victims in large scale cases.
7. Lack of partnerships among victim assistance, elder abuse advocates, and consumer advocacy
groups to address fraud and other financial crime victims.
8. The significant number of victims of certain categories of financial crime who are elderly have
historically been poorly served and have typically underreported their victimizations.




DEFINING FINANCIAL CYBER CRIME
Lack of a clear definition of financial crimes, white collar crime and fraud is evident
because there is no unified or standardized definition of financial crime victimization. This is an
issue that must be addressed first in order to better define the universe of financial crime victims
so that appropriate responses to victims can be planned and implemented.

For example, many people use the terms white collar crime, fraud crime, and financial
crime interchangeably. However, white collar crime is really a particular sub-category of fraud
involving perpetrators of a particular status or method or opportunity involved in committing a
crime. Fraud crimes are a larger category within the field of financial crimes. Fraud permits
inclusion of identity theft, elder financial abuse, counterfeiting, bribery, and various corporate
wrongdoing and embezzlement crimes. Financial crime is a much broader definitional term that
can include all aspects of financial victimization.

EXAMPLES OF FINANCIAL CYBER CRIME
1. Mail fraud.
2. Bankruptcy fraud.
3. Wire fraud.
4. Computer fraud.
5. Health care and insurance fraud.
6. Pension and trust fund fraud.
7. Mail theft resulting in check washing.
8. Credit card fraud.
9. Debit card fraud
10. Atm fraud
11. Online trading/transaction fraud
12. Phishing crime
13. E-banking fraud
14. Embezzlement.
15. Securities and investment fraud (including commodities).
16. Reverse mortgage fraud.
17. Cellular phone fraud.
18. Antitrust fraud.
19. Telemarketing fraud.
20. Advance fee schemes.
21. Identity theft.
22. Elder financial exploitation.









Aims & objectives
a) Understand online crime & different types of fraud taken place
b) Learn steps to taken to avoid the fraud
c) Understand phishing
d) Know the steps for safe ebanking.
Scope & limitation
Scope
(1) theft of money,
(2) financial instruments,
(3) property, services, or valuable data;
(4) unauthorized access to computer time;
(5) illegal use of computer programs; and
(6) unauthorized acquisition of stored data.

Limitation
a) No two persons identify and frame Cybercrime in an identical manner.
b) This creates potential conflict of interest when the participants present their arguments as to how
to best identify and respond to cybercrime risk
c) literature in the field of network security
d) To make sure that the fundamental definitions of Cybercrime are clearly defined and are as free
from bias as possible.


REVIEW OF LITERATURE
Cyber crime is defined in different ways by people based on their experiences, the british
police defines cyber crime as a crime that involves computer network and the cyber criminals are
very quick in grabbing the opportunities, it was well said by Shariff that while defining
behaviour, we should bear in mind that it is related to particular context of time with many
influences acting on a individual who are committing the action. Shariff also so said definition of
cyber bullying must explain the tools and forms that it has involved to differentiate it from the
regular cyber bullying. As the tolls and the forms used to commit a cyber crime will let people
know the severity and the mode of crime, According to Besley(2008) cyber bullying is planned
to harm others using the technologies in information and communication by repeated, deliberate
and aggressive behaviour of an individual or group. A article on cyber crime by Vladimir sates
that in Russia during 1990 0nly 10-12 cases were filed which were of rowdies and now the two
thirds of all the cases lodged are of information stolen and unauthorised access, the technology
available to the hackers, the area approachable is very wide in this globalised and web connected
world this world, these factors are easing the hackers and are a very big concern for the crime
investigators, the economy has become so technical, money becoming more electronically
people are finding it very hard get away from cyber bullying, Krause and Tipton(1999) said that
the internet has no boundaries, but it also lacks rules and codes of a central authorised which
governs it, Internet being widely spread it is very hard to get control on it as it has no regulating
worldwide it laws and rules that are meant to stop criminal activities but are lacking to control
them as there are no central frame bodies which can prevent unlawful activities. As said by
(Nuemann,2001) the biggest drawback of internet fraud is that it goes unnoticed and unreported
but costs business many millions, internet frauds sometimes go unnoticed as they do not affect
the daily routine and sometimes they are too small to notice and sometimes people notice such
frauds but neglect to complain, getting unnoticed and negligence of people when taken on a large
scale will account for a big figure that makes an organisation or group of organisations lose so
much money. Skoudis, (2001) stated that the people given the responsibility to investigate are
still learning, this tells us that the investigation departments lack the technology that internet
frauds have, they are not technically that intelligent to trace the cheater immediately, the fraud is
technically sound in knowledge about the software and every time government finds a solution
for the problem, there is a new fraud popping out with a different approach, this makes the
government bodies lag behind in decreasing frauds. Roderic G. Broadhurst, Peter N. Grabosky
said that technology advancement has resulted in perfect duplication and publishing of
multimedia combinations, print, design and sound which are copyrighted, this are made available
for free or at a very low cost these include computer software and movies, which overshadows
the creator and push their hard work and creativity into unsustainable conditions, there was an
instance where a James bond movie The World is Not Enough was put on the internet for free
download before the movies actual release. CSI director Patrice Rapalus said in a BBc article
that the breach of information security and cyber crime are very vast and diverse.






Purpose of the Research
The purpose of the research is to find the ways of how cyber crime is advancing, its effect on
people may be as individual, group or organisation and on the society, the research would
include all the different approaches that use to hackers to commit crimes, the research will
identify the adverse effects of the cyber crimes, the approach of the people towards these crimes,
the affect of the cyber crimes on e-retailing, publishing obscure material on internet like
pornography, the effect on the business of organisations, risks of national security in concern
with the breach of information security laws. This research will establish a statistic approach
report of different areas of cyber crime, and will analyse the problems in the approach towards
cyber crime, the ways to effectively eradicate cyber crimes, after reading the report one will the
most common safety precautions to get rid of cyber crimes and the most common crimes that are
prevailing in the world, the percentage of people who had to face different consequences when
they were victims of cyber crime. We are doing this research now as computers have become an
integral part of our life, we are dependent on the cyber space for various obvious reasons that we
cannot expect doing them without the computers and the criminal activities on the web space has
created a great gap between economic development through digital technology and the current
situation, this research will find the crucial points that involve people in to doing cyber crimes
and the factors that are to be strictly monitored to eradicate cyber criminality. These finding will
help the government set policies in controlling and help the e- business advance without any
complaints of fraud.



REASERCH METHODOLOGY
The research methodology we will use is the applied research as this is a practical
problem that is directly affecting the individuals and organisations, from the above information
we have good idea of the cyber crime, and its effects so practical approach will help us in
establishing the exact and the required data about the research, it is so important that we bear in
mind that the research methodology should be very easy to approach practically and it should
give us the exact feedback about what we need making the research to complicated will end up
as a disaster. The objectives of the research have to be concluded before the research begins to
ensure that they are descriptive which illustrates the problem in a very clear and bisected way,
and explanatory which will make us understand the problem, causes of the problem and the
relationship between the problem and causes.
The approach we are going to take is a structured and qualitative approach as we are
determined about the objectives, design, sample and questions. This approach has both strengths
and weaknesses of its own, we get the exact and prescribed information needed, the drawback is
that we could only know the answers about the questions that we are asking as it is not flexible,
we take into consideration of opinions from the internet users on an online survey, we gather and
scrutinise information from the articles and we approach officials and the business clients of e-
retailing who are frequent victims of the cyber space criminality.
The questionnaire for the survey is developed after extensive review of the literature
which helps us find stats about the crucial problems, the construction of the questionnaire should
be detailed and simple for people to understand and for us to get the best possible answers which
will reflect in our statistics, the articles collected and the interviews held should be reflected in
the data, so the data collected should be very relevant to the questions on the survey which
makes it easy for us to interpret them effectively.
Identifying the Problem
Literature ReviewDeveloping Approach
Finding the Sources
Enquiring Victims
Conducting Surveys
Scrutinising the Problem
Finding Articles
Analysing and DevelopingThe Process of Research:
This is the way in which the research study has been conducted.