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Botnet-related fraud

It refers to all the connected devices like servers, mobile phones and IoTs that are infected and controlled by an unknown person (or organisation) through malware. These devices are controlled remotely by threat actors who use them for particular malicious functions. 

What Is A Bot?

A bot is a device that runs the malicious code and becomes part of the network. Cybercriminals use it to carry out dangerous tasks like sending spam emails to users, stealing personal data through mail accounts, or extracting bank credentials by infecting the device. 

In addition, these apps are responsible for launching the denial of service attack or attacks where the user is redirected through a javascript code to a malicious website.  There are countless computers worldwide controlled by a botnet, and there are thousands of active operations controlled by these devices. 

For example, in the Torpig attack, the infected machine visits the bank website. The virus issues a request to infiltrate the server, triggering the attack by identifying the target domain. Many such attacks are very difficult to detect. 

The financial websites use standard HTTPS protocols to ensure the details related to a bank transfer, the credit card number, or other Ids are protected.  But many such automated attacks can infect machines and send stolen data to scammers. 

If anyone faces any loss during transactions, they can report it to the bank site and file a complaint with the regulatory bodies.

Date Published: Feb 02, 2022

Types of fraud

A-Z of fraud

To help understand which fraud you've been affected by, we've categorised them into an alphabetical list.

What is fraud and cyber crime?

Cybercrimes can be of two types. First, it can be cyber dependent, where the fraudsters use online devices to convince the victim to accept their offers.

Advance fee fraud

If you are trying to get a loan for a house or a car, they ask to meet the provider to get the financing arrangement and pay the finder's fee in advance.

Corporate fraud

Corporate frauds can be complicated, committed either by the firm or an individual. Nevertheless, it mostly involves cheating where the employee or the firm.

Individual fraud

There are many types of individual frauds related to advance fees, investments, insurance brokers, bogus tradespeople, Ponzi schemes, pension liberation.

Online fraud

Hence the number of cases of online fraud is increasing each year, and most such cases include – account takeover, direct frauds, or scams related domain names.

Identity fraud and identity theft

The criminal uses the stolen identity of another person living or deceased to conduct unlawful activities like obtaining goods or services in another's name.
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