Fraud committed by means of information and communications technology

Abstract

The offence of fraud committed by means of information and communications technology represents one of the most prevalent forms of cyber-enabled crime worldwide. Unlike cyber-dependent offences, where information systems or data are the direct target, this form of fraud involves the use of technology as an instrument to facilitate deceit.
The article highlights the exponential growth of online investment fraud and other technology-enabled scams, such as Business Email Compromise (BEC), deepfake-enabled impersonation, and identity theft. Special attention is given to the role of crypto-assets as either the object or the proceeds of fraudulent conduct. In this regard, particular emphasis is placed on fraudulent schemes such as investment frauds, pump-and-dump operations, wash trading, and the use of counterfeit tokens or test tokens (faucets).
The article argues that the current legal framework under Romanian law is largely sufficient to address fraud committed through information technology, primarily by applying the aggravated form of fraud under Article 244 par. (2) of the Criminal Code. However, it suggests that de lege ferenda discussions should focus on harmonising sanctioning regimes, particularly with respect to the overlap between fraud and computer-related fraud, and on addressing legislative gaps concerning market abuse in the crypto-asset market. Ultimately, the article underscores the importance of a nuanced doctrinal and jurisprudential approach, as the technological sophistication of perpetrators continues to evolve at a rapid pace.