University of Mumbai

UNIVERSITY OF MUMBAI
PROJECT ON
CYBER CRIME IN BANKING
SECTOR
SUBMITTED BY
BHAVIKA D VARAN
PROJECT GUIDE
Prof. Mrs. NJFHFHFH
BECHALARS OF ACCOUNTING
AND FINANCE STUDYS
SEMESTER VI
(2021-22)
Kandivali Education Society's BK
Shroff College of Arts and MH Shroff
College of Commerce (Autonomous)
Bhulabhai Desai Rd, Kandivali West,
Mumbai, Maharashtra 400067
Declaration
I student of BAF
Semester VI (2021-22) hereby declare that I have completed this
project on
The information submitted is true & original to the best of my

knowledge.
Student’s Signature
Name of Student
( )
C E R T I F I C A T E
This is to certify that ____________________________ Of TYBAF

has
successfully completed the project on
__________________________
_____________________ under the guidance
of_________________ ___________
Project Guide Principal Prof.
Course Co-ordinator
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. Mrs.
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
Cybercrimes are any illegal activities committed using computer target

of the criminal activity can be either a computer, network operations.
Cybercrimes are genus of crimes, which use computers and networks for
criminal activities. The difference between traditional crimes and cybercrimes is
the cybercrimes can be transnational in nature. Cybercrime 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. Cybercrimes 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
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UNIVERSITY OF MUMBAI

The information submitted is true & original to the best of my

This is to certify that ____________________________ Of TYBAF

Project Guide Principal Prof.

This is to express my earnest gratitude and extreme

Cybercrimes are any illegal activities committed using computer target

Some forms of Internet fraud, include: Spam, Scams, Spyware,

SRNO. TOPICS PAGE

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