What is cybertheft and what are its purposes? Describe how different types of fraud (computer, Internet securities, and e-tailing) fall under cybertheft.

Question

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Answer 1

Cyberthieves use cyberspace to either distribute illegal goods and services or to defraud people for quick profits. The Internet enables them to work efficiently, reaching a much greater number of potential victims than ever before. Computer fraud is a common-law crime committed using contemporary technology. Two common examples include theft of information from someone's computer (including software) that is copied for profit and software theft, which has created a huge illegal market. Internet securities fraud uses the Internet to manipulate the securities marketplace for profit. This can include market manipulation, when an individual tries to control the price of stock by interfering with the natural forces of supply and demand. Some websites are designed to sell securities fraudulently, inflating assets, overstating expected returns, and understating risks. No investment is actually made and later investors will lose their initial investment. Illegal touting involves individuals making securities recommendations and failing to disclose they are being paid to disseminate their favorable opinions. E-tailing fraud involves both illegally buying and selling merchandise on the Internet. This can involve failing to deliver on promised purchases or services or using cheap or used material for higher-quality purchases. All three of these forms of fraud are designed to gain a profit for the cyberthief at the expense of someone else.