Investigating Financial Frauds

Money is the most common motive behind all crimes. The same is also true for cyber crime. Globally it is been observed the more and more cyber crimes are being committed for financial motives rather than for revenge or fun.

With the tremendous increase in the use of Internet and Mobile banking, Mobile Wallet, Internet banking, e-commerce, Online share trading, there has been a corresponding growth in the incidents of financial frauds. Financial Frauds include Credit card frauds, Debit card frauds, Internet banking frauds, Mobile banking frauds, Insurance frauds, Computer manipulation, Accounting scams etc.

The victim of financial fraud can file a complaint with the Adjudication officer of the state appointed under the Information Technology Act 2000 though a techno legal expert for recovering the money lost and the compensation. The victim of financial fraud not only recovers the money he had lost but also the compensation for mental agony, travel expenses, legal expenses can be claimed. IT Act provides both criminal and civil remedy for the victims of financial frauds.


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