Internet fraud refers to deceptive practices conducted online to gain financial or personal information from victims. Common types include phishing, where scammers impersonate legitimate organizations to steal sensitive data, and online auction fraud, where sellers misrepresent items to trick buyers. Another form of internet fraud is identity theft, where criminals use stolen personal information to commit fraud or other crimes. Victims may face significant financial loss and emotional distress as a result. Awareness and caution are essential to protect against these threats in the digital world.