Internet Fraud Prevention: Using Online Fraud Courses to Hone Cyber Security

Internet Fraud Prevention: Using Online Fraud Courses to Hone Cyber Security
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Top Internet Fraud Scams

Article ImageThe need for online fraud courses is glaringly obvious when taking into consideration the 2008 fraud statistics published by Consumer Fraud Reporting(1). Of 275,284 complaints – and an estimated loss of $264.6 million – almost 33 percent of complainants cited non-delivery of goods as the main vehicle of fraud.

Auction fraud came in with 25.5 percent of complaints, while credit card fraud ranked third with nine percent of incidents. Other incidents deal with foreign lotteries and phishing scams. It is interesting to note that even the much-publicized Nigerian letter fraud still managed to find victims in 2.8 percent of complainants, which puts it actually ahead of identity fraud and financial institutions fraud.

Not surprisingly, consumer advocacy organizations and vendors now offer Internet fraud prevention courses devoted to training merchants and consumers alike to be on the lookout for fraud.

Online Education Courses for Banking Professionals

The Bank Training Center - Aimed at the banking professional – but also available to consumers – the Bank Training Center offers numerous on-demand and webinar courses to help stop fraud. For a fee of $255, participants can learn about Debit and Credit Card Fraud, Detecting Counterfeit Checks, On-Line Scams, Money Orders & More. You can also take a discounted course in Anti-Money Laundering.

Fraud Prevention Course for Employees

Global Ethics University - This two-hour course delves into online fraud that may be encountered by employees who use the Internet during working hours. Under the heading of asset protection, the online course explains computer security, piracy, copyright issues and also privacy. It is interesting to note that many employees fall victim to scams that trick them into releasing company-sensitive information and data – a practice this course seeks to correct.

Free Online Course

Free online fraud courses in scam prevention and computer security are hard to come by. Generally they take the form of online training manuals. A welcome exception to this rule is the eSecurity-Exchange site that offers a gratis primer in USB drive encryption, which prevents data theft and loss as well as ID crimes. It lasts only about 15 minutes and is useful for anyone who relies on removable USB drives for backups and storage.

Pros and Cons of Online Fraud Courses

Raising awareness in the work environment is crucial for the safekeeping of corporate data, trademarks, and sensitive company information as well as computer security. It also assists employees in gaining a better understanding of the underbelly of online activities; even such innocent interactions as offering an ex-employee access to a computer or sharing information with others after hours.

That being said, the downside of professional fraud prevention courses online is,as soon as they are drafted, they are often outdated. Scam artists move quickly and new tactics as well as online threats emerge on a daily basis. Only consistently updated training has the power of inoculating the consumer and corporation against the thread of online fraud.


Photo Credit: “Phishing” by U.S. Federal Trade Commission/Wikimedia Commons at