Question

What is the Bank Secrecy Act of 1970? How has the advent of computer technologies created ways around this Act? What is phishing?

How does phishing fit into the prob-lem of identity theft?

What is the difference between a virus and other types of malicious code?

What are the most common types of viruses?

What are the various types of exploitation that can occur over the Internet?

What are the characteristics of the typical victims of Internet exploitation crimes?

Answer 1

What is the Bank Secrecy Act of 1970? How has the advent of computer technologies created ways around this Act? What is phishing?
Answer:-------------
The Bank Secrecy Act (BSA), also known as the Currency and Foreign Transactions Reporting Act, is legislation passed by the United States Congress in 1970 that requires U.S. financial institutions to collaborate with the U.S. government in cases of suspected money laundering and fraud. The purpose of the BSA, aside from making money laundering more difficult to propagate, is to prevent banks from becoming unknowing intermediaries in illicit activity.

Phishing is a method of trying to gather personal information using deceptive e-mails and websites. Here's what you need to know about this venerable, but increasingly sophisticated, form of cyber attack.

How does phishing fit into the prob-lem of identity theft?
Answer:-------------
Tricking consumers into disclosing their personal and financial data, such as secret access data or credit card or bank account numbers, is identity theft. Such schemes perpetrated through the Internet are called “phishing” for information.

What is the difference between a virus and other types of malicious code?
Answer:-------------
Malware is a catch-all term for any type of malicious software, regardless of how it works, its intent, or how it’s distributed. A virus is a specific type of malware that self-replicates by inserting its code into other programs. Computer viruses have been prominent since almost the beginning of the commercial internet: The first one was created in 1982 for the Apple II, and other versions quickly followed.

Viruses spread by attaching themselves to legitimate files and programs, and are distributed through infected websites, flash drives, and emails. A victim activates a virus by opening the infected application or file. Once activated, a virus may delete or encrypt files, modify applications, or disable system functions.

What are the most common types of viruses?
Answer:-------------
Some of the most common viruses are:------------

• Boot Sector Virus.
• Direct Action Virus.
• Resident Virus.
• Multipartite Virus.
• Polymorphic Virus.
• Overwrite Virus.
• Spacefiller Virus.

What are the various types of exploitation that can occur over the Internet?
Answer:-------------
Using the internet for the production, manufacture, and distribution of child or other sexually deviant pornography. Using the internet to expose youth to child pornography and encouraging them to exchange pornography. Using the internet to entice and exploit women and children for the purpose of sexual tourism (travel with the intent to engage in sexual behavior) for commercial gain and/or personal gratification.

What are the characteristics of the typical victims of Internet exploitation crimes?
Answer:-------------
The primary targets for these types of crimes are almost always women and children. Girls are on average targeted almost twice as much as boys (70 percent vs 30 percent). More than 3/4 of targeted youth are 14 and older. Almost all (86 percent) incidents were with people the the youth originally met online. Most victimization for normal crime occurs when the victim and offender have some type of prior relationship, but stranger to stranger online interactions occur more often in regards to cyber-crime.