A STUDY ON IMPACT OF ONLINE FRAUD ON PUBLIC AND SUFFICIENCY OF CYBER LAWS ON ONLINE FRAUD

Abstract

Online fraud is the rampantly increasing form of cybercrime that is either going unreported or being not found as it is a crime with the crime does being anonymous.  Improvement in the technology has given rise to crimes in the technological forums and such crimes have been curtailed by implementation of cyber legislations.  However there still exists rampant crime occurring in the online forum which is through the misuse of the technology.  The Government has recently amended the Information Technology Act in 2008 and it has been 12 years which calls for need for upgraded laws as the technology has upgraded and so did the crime along with it.  The Government has set up an online complaint forum and other awareness forum to ensure safety n the internet world.  The major factors that affect the public is this lack of awareness of cyber laws and general application of mind towards transactions online which renders them as victims of online fraud which has recently increased multiple folds than it was during the last amendment that is on 2008. The main objective of the research is to identify the rate of victims of online fraud and the plausible reason for the same and identify the age group that  is subjected mostly to the fraudulently activities online and also to identify the need for new laws contusing online fraud.  This empirical research has collected data / samples through convinient samples.  The result observed that there is a need for new amendment to the cyber law.