Lesson 20 - Internet Fraud

Shill Bidding

Fraudulent sellers bid on sellers items to drive up the prices

Bid shielding

Fraudulent buyers submit very high bids to discourage other bidders from competing

Bid Siphoning

The practice of contacting bidders and offering to sell them the same item they are currently bidding on to draw them away from the legitimate seller

Cybercrime

Any crime that is committed using a computer, network, or hardware device

Defense against credit card fraud

-One time credit card numbers

-Monitoring transactions

-Password enabled transactions

Cyber Fraud

Using the internet to defraud someone