Internet has made life easier these days but one cannot the deny the risk comes along with it. Most people use internet today for different purpose. Financial activity is mostly used and there so many risk which has been also an increasing factor for internet crime.
Despite using the internet, many people lack awareness of the benefits and challenges comes along with it. There are various problems in internet like scam and fraud. I too have experience a scam on email where there comes lot of spams but as I am aware I do not react to that. Similarly there can data breach and Hacker can use those data for criminal activities.
There are different ways which can be implemented from the consumer and service provider sector. Firstly, awareness can be one of the impactful decision to reduce the internet crime. Database management has been on of the issue for several service providers, specially banks which can also be reduced by implementing Proper DBMS (Database Management System). Government should come up with the strict rules and regulations to minimize the internet scams. And there should be policy for the service providers to make their system more secured which will make hard for hackers and scammers to break the firewall. Service provider should literate the users on their update on software and provide training to use it properly as well.
There is no denying the fact of risk and challenges on internet during financial decision but there are ways that can solve the issue and helps to reduce the internet crime.
