CMN 124 Lecture Notes - Fingerprint, Black Market, Cybercrime
12 Dec 2012
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Document Summary
More users today are using mobile devices as a means for banking and authorizing transactions. At the same time, there is also a significant increase in online fraud and identity theft. The purpose of this report was to gain knowledge on ways to strengthen web security for high-risk transactions involving customer information and movement of information of other important parties. Also, this report will educate on ways that web security can be breached and the precautions that can be taken to prevent this from happening. Online financial cybercrime has increased exponentially in the past 4 years forming the foundation of a trend that shows no signs of abating. The global total of criminal gain from cyber fraud is impossible to estimate precisely. However, most indicators suggest it stands in the high tens of billions of dollars, perhaps in the hundreds. (graham, 2009) . There are many different methods that can be used to execute web transactions.
