Online fraud is on the rise, and everyone is a target! Internet fraud and scams are nothing new; they have been around since we started using the internet. Let’s look at the seven biggest internet frauds of all time, in no particular order:
1. Online Dating Scam
Online dating is undeniably popular, and that is why criminals target legitimate users through fake profiles and try to get money from them.
One of the biggest online dating frauds took place in 2013. A lonely, retired Canadian woman lost her life savings of $1.3 million to a companion she met online. She connected with him on an online dating site, and he elicited money, gifts, and other favors from her. She willingly gave up the money to him as he fabricated his legitimate-sounding personality and stories.
Usually, this scammer asks their victim for monetary help and tries to get as much out of them as possible. The online dating profiles of scammers are generally limited or removed by dating apps. To prevent the dating app from removing them, these fraudsters use convincing stories to get their victims to continue communicating with them from another app.
2. Global Fraud Ring
In 2010, the US Federal Court handed down one of its harshest sentences for a computer crime. Hacker Albert Gonzalez was given 20 years in prison after being convicted of leading a notorious fraud ring that hacked into retail store accounts, stealing hundreds of millions of credit cards. Gonzalez, aka SoupNazi, amassed $2.8…