Cyber Fraud is a broad term encompassing any illegal activity that uses computers or the internet to deceive, steal, or damage.
Man-in-the-Middle Attack
Definition: A MITM attack occurs when an attacker intercepts communication between two parties, gaining access to the data being exchanged.
How it works: The attacker positions themselves between the sender and receiver, intercepting and potentially modifying the data transmitted.
Impact: MITM attacks can compromise sensitive information, such as login credentials, credit card numbers, and personal data.
Clickjacking
Definition: Clickjacking is a type of attack where a malicious website tricks users into clicking on hidden elements or links that they are unaware of.
How it works: A malicious website overlays transparent elements over a legitimate website, causing users to inadvertently interact with the hidden elements when they believe they are interacting with the legitimate site.
Impact: Clickjacking can lead to unauthorized actions, such as transferring funds or revealing sensitive information
Ponzi Schme
A Ponzi scheme is a type of investment fraud that promises high returns with little or no risk. It operates by paying returns to existing investors from money collected from new investors, rather than from actual profits generated by underlying investments.
How does it work?
Promising high returns: The scheme's operator promises investors unusually high returns with little or no risk.
Attracting new investors: The promise of high returns attracts new investors who are eager to invest their money.
Paying returns to early investors: The operator uses money from new investors to pay returns to existing investors, creating the illusion of success.
The scheme collapses: As the number of new investors slows down, the operator can no longer sustain the payments. Eventually, the scheme collapses, leaving investors with significant losses.
Key characteristics of a Ponzi scheme:
Promises of high returns: The scheme always promises unusually high returns with little or no risk.
Lack of underlying investments: There are no actual investments or businesses generating profits to support the promised returns.
Reliance on new investors: The scheme relies on a constant influx of new investors to sustain itself.
Eventually collapses: As the number of new investors slows down, the scheme is unable to maintain the promised payments and collapses.
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