UNIVERSITY OF MUMBAI

PROJECT ON

CYBER CRIME IN BANKING SECTOR

SUBMITTED BY

SHAKSHIT DIWAKAR CHAUDHARY

PROJECT GUIDE
Prof. Mr. ANISH DESAI

BACHELOR OF MANAGEMENT STUDIES

SEMESTER V
(2017-18)

RIZVI COLLEGE OF ARTS, SCIENCE & COMMERCE,

CARTER ROAD, BANDRA 400050
 Declaration

I Mr. Shakshit Diwakar Chaudhary student of BMS Semester V,

Roll No. 88 (2017-18) hereby declare that I have completed this
project on Cyber Crime In Banking Sector
.
The information submitted is true & original to the best of my
knowledge.

Students Signature

Name of Student
( )
 C E R T I F I C A T E
This is to certify that Mr. Shakshit Chaudhary Of TYBMS has
successfully completed the project on Cyber Crime In Banking Scetor

under the guidance of Prof. Mr. Anish Desai

Project Guide Course Co-ordinator

Prof. ANISH DESAI Prof. Furqan Shaikh

External Examiner Principal

 ACKNOWLEDGEMENT

This is to express my earnest gratitude and extreme joy at being bestowed

with an opportunity to get an opportunity to get an interesting and informative
project on CYBER CRIME IN BANKING SECTOR. I would like to thank all
the people who have helped me in completion of project, I would avail this
opportunity to express my profound gratitude and indebtness to all those people.

I am extremely grateful to my project guide Prof. Mr.ANISH DESAI who

has given an opportunity to work on such an interesting project. She proved to be a
constant source of inspiration to me and provided constructive comments on how
to make this report better. Credit also goes to my friends whose constant
encouragement kept me in good stead.

Lastly without fail I would thank all my faculties for providing all explicit
and implicit support to me during the course of my project.
 EXCECUTIVE SUMMARY

Cyber crimes are any illegal activities committed using computer target of the criminal activity
can be either a computer, network operations. Cyber crimes are genus of crimes, which use
computers and networks for criminal activities. The difference between traditional crimes and
cyber crimes is the cyber crimes can be transnational in nature. Cyber crime is a crime that is
committed online in many areas using e-commerce. A computer can be the target of an offence
when unauthorized access of computer network occurs and on other hand it affects E-
COMMERCE. Cyber crimes can be of various types such as Telecommunications Piracy,
Electronic Money Laundering and Tax Evasion, Sales and Investment Fraud, Electronic Funds
Transfer Fraud and so on

The modern contemporary era has replaced these traditional monetary instruments from a paper
and metal based currency to plastic money in the form of credit cards, debit cards, etc. This has
resulted in the increasing use of ATM all over the world. The use of ATM is not only safe but is
also convenient. This safety and convenience, unfortunately, has an evil side as well that do not
originate from the use of plastic money rather by the misuse of the same. This evil side is
reflected in the form of ATM frauds that is a global problem.

Internet commerce has grown exponentially during the past few years and is still growing. But
unfortunately the growth is not on the expected lines because the credit card fraud which has
become common has retarded the e-commerce growth. Credit card fraud has become regular on
internet which not only affects card holders but also online merchants. Credit card fraud can be
done by taking over the account, skimming or if the card is stolen. Certain preventive measures
can be taken to becoming a credit card victim.

The term "Internet fraud" refers generally to any type of fraud scheme that uses one or
more components of the Internet - such as chat rooms, e-mail, message boards, or Web sites - to
present fraudulent solicitations to prospective victims, to conduct fraudulent transactions, or to
transmit the proceeds of fraud to financial institutions or to other connected with the scheme.
Some forms of Internet fraud, include: Spam ,Scams, Spyware ,Identity theft ,Phishing ,Internet
banking fraud.
"The modern thief can steal more with a computer than with a gun. Tomorrow's terrorist may be
able to do more damage with a keyboard than with a bomb".

National Research Council, "Computers at Risk", 1991

 INDEX

SRNO. TOPICS PAGE NO

1. CYBER CRIME 01-08

2. TYPES OF CYBER CRIME 09-23

3. CLASSIFICATION OF CYBER CRIME 24-26

4. REASONS FOR CYBER CRIME 27-28

5. CYBER CRIMINALS 29

6. MODE AND MANNER OF COMMITING CYBER CRIME 30-32

7 33-34
BANKING SECTOR
5
CYBER CRIME IN BANKING SECTOR
8 A) ATM FRAUD 35-41
B) MONEY LAUNDERING 42-49
C) CREDIT CARD FRAUD 50-59

9 CASE STUDY 60-61

10 GENERAL TIPS ON AVOIDING POSSIBLE INTERNET FRAUD 62-63

SCHEMES

11 64
RECENT CASES

12 CONCLUSION 65-66

13 BIBLOGRAPHY 67