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Computer Fraud - Essay Example

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Computer Fraud

Finally, we present our views on how individual computer users and businesses can help in the successful implementation of various anti-fraud programs.
Computer fraud according to the United States Computer Fraud and Abuse Act is generally committed when a person intentionally or consciously accesses a computer without or exceeding given authorization or such act is intended to obtain valuable things (Vasiu et. al., 2004, p.3). The definition of computer frauds may vary in ways but they all end in one common conclusion; it is an act causing loss of property to another by input, alteration, deletion, and suppression in which offenders are also classified as insiders or outsiders. However, computer frauds are normally committed by "insiders" (Vasiu et. al., 2004, p.4) for an obvious reason. Insiders do know the system and are courageous enough to challenge detection due to their long time exposure and familiarity of the system's weak points. Nonetheless, this does not negate the possibility that in some situation, the perpetrators may not always necessarily an insider. They may also come externally pretending to be a person with an authorization to take advantage of the vulnerabilities of the system.
A good example given by Vasiu et. al. ...
ates to a financial consultant in Australia who managed to stash away a hefty amount of money through wire transfer using another person's name and password. He successfully did this fraudulent act by logging into the Departments network using name and password of an authorized staff and hides the audit trail using another employees authorized access codes.
In another situation, probably a classic case of vulnerability exploitation, tells us about a former employee of certain company managed to use his user name and password issued by the company while employed to change customer's credit card details by remotely logging-in into the company's network and started making refund to his credit card through the modified accounts (Vasiu, et. al., 2004, p.5). The big question here is how these employees managed to hack the system and what motivated them According IIA (2003), 'crime follows money" and as money are available electronically, we can be sure that the criminals are just around the corner (p.1). In addition, it is probably because Information Security is traditionally "not a key factor" (OTA, 1987, p.4) in the design of computer and communication system.
The reality that electronic or information technology based commerce is too tempting for an individual who have at least some background on how the system works and in the case of this former employee, he is much aware of the vulnerabilities of the system. In a disgruntled and starving employee, hacking his way through the vulnerabilities and flaws in a system is the easiest thing to do since you can perform such feat remotely in the comfort of your home. As technology becomes more and more convenient and interactive, the lure of fraud seems increasing. In 2002, hackers successfully stole financial information from ...Show more

Summary

Computer frauds while less frightening than physical violence or intrusion can inflict enormous damage to an organization and community. To prevent this high-tech crimes we must recognized the nature of computer frauds and understand how and why this is being done…
Author : ngutmann
Computer Fraud essay example
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