What is described as fraud perpetrated using digital technology or the internet?

Cyber fraud is characterized by fraudulent activities that utilize digital technology or the internet as a medium to carry out illicit acts. This includes a wide variety of scams and schemes such as phishing, credit card fraud, hacking, and online identity theft. The defining aspect of cyber fraud is its reliance on electronic communications and technologies to manipulate individuals or organizations for financial gain.

Understanding cyber fraud is essential as it is increasingly prevalent in today’s digital world. The evolution of technology has provided fraudsters with innovative ways to exploit vulnerabilities in digital security, making it imperative for fraud examiners to stay informed about various cyber crime techniques and protective measures. This form of fraud poses specific challenges, such as tracking down perpetrators who can operate from anywhere in the world, thereby complicating investigations and enforcement.

The other types of fraud listed, such as financial fraud, corporate fraud, and identity theft, do not exclusively refer to the online landscape, as they can also manifest through traditional means. Financial fraud, for example, encompasses a broad range of deceptive practices aimed at securing an unfair advantage in financial transactions, which may or may not involve digital platforms. Corporate fraud typically involves unethical behavior within a corporate environment and can include actions like financial statement fraud or insider trading, not necessarily linked to digital technology.