Internet fraud’s price put at $550 million

Today’s cost of American online fraud comes in at a staggering $550 million. Authorities are tracing white collar crime growth in the triple triple digits. The anonymity afforded by the internet allows fraud and other crimes to be perpetrated on a broader scale than ever before. Viruses, piracy, and fee based scams were the principal cause of the frauds. California is the American state where more internet fraud crimes than anywhere else were reported.