The continued adoption of web, mobile, cloud and social media technologies by the companies has increased opportunities for attackers for online frauds. Explain various types of online frauds.

The continued adoption of web, mobile, cloud, and social media technologies has increased opportunities for attackers. These trends have resulted in the development of an increasingly boundary-less ecosystem within which companies operate and thus a much broader "attack surface" is exposed for the fraudsters to exploit. Various online frauds are explained as under: Hacking: Hackers/fraudsters obtain unauthorized access to the card management system of the respective banking companies. Counterfeit cards are then issued for the purpose of money laundering. Phishing: A technique used to obtain cards (i.e., Credit Cards, Debit Cards, Identity Cards, Security Access Cards etc.) and personal details through a fake email. These cards are then used for committing the frauds. Pharming: A similar technique where a fraudster installs malicious code on a personal computer or server. This code then redirects clicks you make on a website to another fraudulent website without your consent or knowledge. Vishing: Vishing is a practice of making calls or leaving voice messages in order to obtain personal information. In this type, fraudsters use the phone to solicit personal information and then misuse the information. Smishing: It uses cell phone text messages to lure consumers in. Often the text will contain a URL or phone number. The phone number often has an automated voice response system and again just like phishing, the smishing message usually asks for your immediate attention. Debit card skimming: A machine or camera is installed at an ATM which picks up card related information and PIN numbers when customers use their cards. This type of fraud is harmful for the Banking Companies to a very large extent. Computer viruses: With every click on the internet, the systems of the company are open to the risk of being infected with nefarious software that is set up to harvest information from the company servers. Counterfeit instruments: Fake cheques / Demand Drafts that look too good to be true are being used in a growing number of fraudulent schemes, including foreign lottery scams, cheque overpayment scams, internet auction scams and secret shopper scams.