The paper “Effect of the Internet on Fraud and Identity Theft” examines the influence of the Internet on deception and persona robbery and will address the issues surrounding the difficulty of security and inadequacy of legislation against these crimes…
The number of adult Americans with Internet access was expected to increase from about 88 million in mid-2000 to more than 104 million at the end of 2004. (Claburn, 2004)The Census Bureau of the Department of Commerce approximated that in the fourth quarter of 2000, online retail sales amounted to $8.686 billion, a boost of 67.1 per hundred from the 4th quarter of 1999. (Haeberle, 2004) Total e-commerce sales for 2000 were an approximated $25.8 billion, accounting for 0.8 percent of all sales. Bankers, for instance, who conduct online banking transactions are particularly vulnerable to fraud and identity theft (Sullins, 2006).
Unfortunately, but not unexpectedly, the rise in e-commerce has become fertile ground for fraud, resulting in a loss of billions of dollars yearly worldwide (Bolton & Hand, 2002). Apparently, the fraudsters are quick to realize the potential of a new technology or system to propagate deception and identity theft, and early on exploit it to their benefit. Long-distance telemarketing became the channel of such criminal activity when it was first introduced in the 1970s. So too the pay-per-call service when it became accessible in the late 1980s. Internet technology is the newest attraction for opportunistic fraudsters who take advantage of it for personal gain. The problems facing law enforcers is the rapidly evolving techniques used by the fraudsters (Acoca, 2008).
The rapid increase in the number of complaints associated with online deception and fraud bears this out: in 1997, the Commission obtained less than 1,000 Internet deception complaints; the following year, the number had expanded eight-fold. Although most Internet deceptions arise from customary scams, the variety of techniques ingeniously devised to exploit the new technology is quickly proliferating. ...
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This paper will assess various methods through which people’s identity can be compromised. It is also apparent that victims of identity theft experiences different and great loss. The paper will also highlight losses caused by identity theft. There must be a way through which law enforcement agencies and courts deal with such crimes.
It has become pertinent for people and organizations to display their identity information in a more sensible and restricted manner so as to avoid an unwanted situation in which someone else wrongly benefits from their identity information. As the online social media has expanded, likewise, the identity theft crimes have increased manifold.
The Identity Theft Resource Center (see www.idtheftcenter.org)defines information security breach as an event when sensitive personal information of a certain person such as his or her Social Security Number (SSN), medical records, driver’s license or financial records such as bank accounts, credit card accounts and the like become potentially at risk.
Identity theft can be broadly categorized as Financial Fraud and Criminal Activities. The most common forms of identity theft for Financial Fraud occur when someone obtains another person's social security number, driver's license number, date of birth, and the like and uses it to open a fraudulent bank, credit card, cellular telephone, or other account, or to obtain false loans.
The more efficiently and expediently computers and the Internet that connects them process and exchange information for the benefit of the consumer and the corporation, the more ways there are to illegally obtain that information and use it for various nefarious ends.
The author in his article stated that e-commerce services deals in heavy transactions. So this attracts hackers. He tries ways to extract confidential data like Phishing. The term phishing describes a combination of techniques used by cyber crooks to bait people into giving up sensitive personal data such as credit card numbers, social security numbers.
uses your personally identifying information, like your name, Social Security number or credit card number, without your permission, to commit fraud or other crimes."
Today Identity theft in the US is quite widespread causing huge problems for individuals. The FTC has estimated
Common ID theft crimes and security issues are discussed. Then, a personal account is given which shows how I became a victim of this crime. Some important laws have been discussed to have a clear view of what
It may not be literally possible to steal someone’s identity thus the terms used are identity fraud and impersonation. It is also difficult to determine a link between identity theft and data breaches because it is not always known that how the personal information was accessed. Identity fraud is usually the result of identity theft.
8 Pages(2000 words)Research Paper
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