Abstract
This paper examines the questions of crime, fraud and deceit on the Internet and discusses whether such activities constitute a new type of abusive social behavior, or whether they are classic forms of capitalistic excess appearing in a new medium. Three areas of abuse are investigated, namely: securities law violations using the Internet; crime and fraud in electronic commerce; and deceitful acts by Internet companies. The advent of the Internet has allowed fraudulent schemes to be perpetuated at low cost and distributed to a wide audience. Many of these activities would not be possible without the existence of the Internet. The rapid growth of electronic commerce has been accompanied by an increased number of fraudulent acts facilitated by the unregulated nature of the medium. The rapid growth of Internet companies, often with little economic substance, and lacking traditional management and internal controls, has prompted fears of an economic collapse combined with a desire not to be left out of a potential economic bonanza. Many Internet companies engage in deceitful practices which boarder on fraud. This paper examines the nature of crime, fraud and deceit on the Internet and discusses the role of the state in controlling and regulating these abuses.