Fraud on the Revenue: Emerging Cyber Cash, Cyber Banks and Fraud

Abstract

As the telegraph, telephone and wireless radio change the way people communicate, so the Internet has revolutionised the communications systems. Criminal activity has been around since the time of Cain and Abel. The use of the Internet only provides the criminal mind with a different tool. Crimes that occur through the use of the Internet are the same non‐violent traditional crimes packaged under a new form. Crimes on the Internet fall within the full range of traditional ‘white‐collar crimes’. These crimes include money laundering, bank fraud, wire fraud, embezzlement, tax fraud and customs fraud. Many of the emerging criminal groups and the more traditional organised criminal groups are using the Internet as a means of communication and fraud. In many instances, illegal activities use the Internet to assist in the money‐laundering process.