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Cyber Net Fraud and How They Can Affect Accounting Information Systems - Research Paper Example

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This research is being carried out to illustrates the different forms of cyber net fraud and how they can affect business accounting information systems. The most common form of cyber net fraud is the distribution and use of rogue security software…
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Cyber Net Fraud and How They Can Affect Accounting Information Systems
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Download file to see previous pages This research tells that an accounting information system refers to a system that collects, stores and processes accounting and financial data that is used by business organizations during decision-making processes. Such a system is basically a computer-based way of tracking, accounting activities using information technology resources. Accounting information systems are always designed in accordance with the individual requirements of a business organization. An accounting information system should always have an internal control system. This refers to a number of procedures and methods that can be used by business organizations to authorize transactions, ensure the accuracy of financial records, and safeguard assets. Given the nature of such systems, they are always very vulnerable to cyber net fraud. A common form of cyber net fraud is a phishing attack. The phishing attack involves using of fraudulent websites or spoofed e-mails to trick recipients into revealing personal financial details such as account username and password, credit card numbers, social security numbers, and many other important data. They succeed in doing this by hijacking well-known banks, trusted brands, online retailers, and credit card companies to lure their potential victims into believing in their legitimacy. Phishers are always able to convince about 2% of people who respond to their websites and e-mails. By doing this they are able to get money at the expense of the various business organizations that they disguise themselves as. ...Download file to see next pagesRead More
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