M6 Cybercrime

Discussion question: (Minimum 250 words with 2 APA references)

Please cite and describe a well-known court case where internet fraud and/or embezzlement occurred, resulting in the loss of millions of dollars by the victims.

1 reply to the following discussion post: (Minimum 100 words with 1 APA reference)

The technological changes and innovations talking pace around the world are unquestionably inevitable (Dittenhofer, 2016). The world is becoming a mall and globalized village where people can communicate freely. Time, distance and boundaries are becoming meaningless. The use of the internet has significantly contributed to the emergence of systems and networks being used by people and the organization. Business organizations are becoming digital and embracing these new methods of doing business.

Consequently, business organizations have earned the highest degree of efficiency, effectiveness and productivity. However, these technological changes also come along with their disadvantages. One of the most common and rampant problems associated the IT and the internet is hacking and cybersecurity issues. Some business organizations have suffered a great deal in the hands of this cybercriminals. Hacking is real, and people are afraid of losing data and money to hackers. This, therefore, calls for strict and robust security frameworks being used to ensure that the organization is not in danger.

One of the cases involving fraud happened in California, where Seth Depiano pleaded guilty for email fraud, wire fraud and money laundering (Dittenhofer, 2016). He came up with a fraudulent scheme that he said was meant for the purchase of residential properties. These losses from this scandal and fraud amounted to $ 24Mullion.Seth was later sentenced to 30 years imprisonment for both fraud and money laundering. This case is just but one of the many that have happened in the United States of America. People and organizations have been losing their money and other vital resources due to fraud and this call for the government to come up with proper laws to handle these cases.

1 reply to the following discussion post: (Minimum 100 words with 1 APA reference)

Internet is used for communication which allows users to communicate over the large distances. Nowadays internet fraud is become very common and crime schemes steal millions of dollars each year from victims. Phishing and spoofing are the most common online frauds.

In November 2013, A man from Georgia sentenced to prison for 10 years and ordered to pay $50.8 million in recompense for his role in a organization committed to credit card fraud, personal information through the identity theft associated with a website called carder.su that is linked to $50 million worldwide losses. Cameron Harrison, aka "Kilobit" 28, of Augusta, Georgia made a living by using the stolen financial information and admitted he purchased compromised credit card data from their fellow carder.su members and pleaded guilty to processing more than 260 compromised credit and debit card numbers and participating in a corrupt organization, which were recovered from his computer and email accounts. As per "Department of Justice" the carder.su was an internet based, international criminal enterprise committed money laundering, computer crimes and this gang tried to avoid detection by communicating through various encrypted forums like private message systems and private networks. 55 individuals charged in this case and all individuals were caught in operation open market run by Homeland Security Investigations and the U.S Secret Service. These are far from victim fewer crimes and the members of this organization were responsible for the theft over the $50 million. The case was investigated by HSI and the U.S. Secret Service, and is being prosecuted by Trial Attorney Jonathan Ophardt of the Criminal Division’s Organized Crime and Gang Section and Assistant U.S. Attorneys Kimberly M. Frayn and Andrew W. Duncan of the District of Nevada. This prosecution is part of efforts underway by President Barack Obama’s Financial Fraud Enforcement Task Force (Stopfraud.gov).