Final answer:
Fraud is on the rise due to the ease of committing fraud with modern technology, the expanded digital footprint of individuals, better detection and reporting of fraud, and a distorted public perception of crime rates due to media influence. Educational efforts for better personal and organizational security measures are crucial.
Step-by-step explanation:
The increase in fraud at an alarming rate can be attributed to several factors. Advances in technology make it easier to commit fraud, as almost everyone uses devices such as cell phones and computers, but few understand their workings. This lack of understanding hampers our ability to make informed decisions about using technology responsibly. Additionally, as our online footprints expand, our vulnerability to cybercriminals increases. As more frauds are detected and reported today compared to the past, the perceived increase may partly result from better detection and mandatory reporting. Furthermore, identity theft is affecting the trust in institutions such as banks and governments, indicating a broader societal impact of fraud.
Statistical fraud, for instance, can be deceptively difficult to detect, and with the fast-evolving pace of technology, societal responses are often lagging. The 24/7 nature of global connectivity and access to immediate information have paradoxically not decreased workloads, which may contribute to an environment where fraudulent activities can thrive. Lastly, public perception of crime rates, influenced by media coverage and entertainment, can distort reality and create an exaggerated fear of crime. This makes the topic of fraud and technological safeguards such as two-factor authentication and stronger passwords vitally important for individual and organizational security.