Answer:
a. Internet auction fraud
b. Counterfeit products are products made and/or sold under the brand name of a product of a higher quality
c. 1) Monitor business transactions
2) Use an Address Verification System AVS
Explanation:
a. Such types of cyber crimes are collectively called Internet auction fraud
Internet or online auction fraud is a form of fraud that involves the act of providing misleading information about goods paced on advert for sale on an online auction site, including the sale of counterfeit goods, sale of goods of poor quality, receiving a different item from what was ordered, artificial bidding to increase price, omission of important information about a product, delivering an item that looks different from what was displayed on the website and the non-delivery of an item already to the buyer.
A seller can be a victim of the internet auction fraud when a buyer does not pay for goods an/or services received, request for delivery before payment, the buyer pays with a stolen credit card, the buyer uses a fake escrow account such that the money returns to the buyer after receiving the goods
b. Counterfeit products or goods are products that are being manufactured and marketed, without formal authorization, under the name of a popular and recognized but are usually of lesser quality than the product they try to imitate
c. Measures that can be taken to stop fraudulent payments are;
1) Monitor transactions to to check for red flags, including disparity in shipping and billing information
Monitor transactions from customer that use free or anonymous emails services which can easily be opened and closed without payment or proper documentation
2) Make use of Address Verification System to authenticate the billing address on a payment, and the address on the credit card.
