Effects of Identity Theft - Research Paper Example

Summary

To explain it further, facilities like internet banking, credit cards, Automated Teller Machines, Virtual Money and technologies of that sort have…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER92.1% of users find it useful

Read Text Preview

Subject: Miscellaneous
Type: Research Paper
Level: College
Pages: 5 (1250 words)
Downloads: 2
Author: umckenzie

Extract of sample "Effects of Identity Theft"

Download file to see previous pages

“The 1998 U.S. Identity Theft and Assumption Deterrence Act (ITADA) has defined identity theft as the knowing transfer, possession, or usage of any name or number that identifies another person, with the intent of committing or aiding or abetting a crime” (Roberts & Shreft, 2009, pp.22-30) This theft has its effects varying from individual losses to insecurity pertaining to nationally relevant matters. The objective of the essay is to critically analyze the effect of these identity thefts generally to the economy and specifically to the industries and individuals dependent on identity based virtual facilities.

CSU (2009, pp 7-8) has reported that the trend of identity theft had been on increase in 2008. The report had cited in the last six months of the year 2008, there had been an increase of 25 percent in the issues pertaining to identity theft. These identity thefts included illegal transaction of personal information through online chat rooms which becomes active market for trade of security information pertaining to internet banking passwords, credit card numbers and social security numbers CSU (2009, pp 7-8).

This trend has been reiterated by the FTC as well which has confirmed that they had received almost 1200000 complaints pertaining to identity thefts. This statistics indicated an increase of 50 percent over the count in the previous year. As per this report the most common among the identity thefts were the credit card frauds. As per the reported crimes cited by Federal Trade Commission, the financial losses included in the theft counted up to 1.8 million dollars. In the American context, the trend in identity theft has been found on an increase in the states of Arizona, California and Florida.

The peculiarities of the present American economic situation following the economic recession have been stated by

...Download file to see next pages Read More

CHECK THESE SAMPLES OF Effects of Identity Theft

Identity Theft Issue

As the use of computer networks, particularly the Internet, has become widespread, the concept of computer… Computer security is closely connected to such disciplines as ethics and risk analysis, and is considered with topics such as computer crime; the prevention, revealing, and In the given paper we will consider the identity theft as one of topic related to the ethics in computing, will examine the nature of the given problem, methods of its investigation and prevention....

10 Pages (2500 words) Essay

Identity fraud its impact and the case for prevention

The most common bad act is the crime of credit card fraud, but mortgage fraud, and also gaining access to the finances of a specified targeted person or a frame of a targeted person falls within what mass media reports of identity theft have included.... Lack of proper and due care with respect to identity protection could make one an unsuspecting victim of identity theft, and even when this is detected, it may be too late to remedy.... While identity fraud is as economically crippling as it is insidious, recent research has shown that its growth could be attributed more to the lack of exercising prudent care among consumers and customers rather than the Machiavellian brains of identity fraudsters....

24 Pages (6000 words) Essay

Effect of Internet on Fraud and Identity Theft

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.... hellip; The purpose of the study will be to examine the effect of the internet on fraud and identity theft.... Bankers, for instance, who conduct online banking transactions are particularly vulnerable to fraud and identity theft (Sullins, 2006)....

4 Pages (1000 words) Essay

Identity Theft and How It Has Affected Societys Way of Life

In this paper we will focus on the definition of identity theft and will even focus on the… Focus will be given to the problems experienced by consumers and the business world and what policies are already in position to solve the issue and what kind of policies are required to counter the problem. One of the biggest concerns of Every part of an individual's life is surrounded with electronic items such as computers, cell phones and credit cards.... A survey conducted by the Federal Trade Commission conducted in 2003 stated that during 2002 the number of victims of identity theft have tripled as compared to the statistics of 2001 ((Hayward, 2004, p....

10 Pages (2500 words) Research Paper

IDENTITY THEFT CAN AFFECT

The average costs incurred by the victims of identity theft were USD 365 (Javelin Strategy & Research, 2013).... This paper will explore the growth of identity theft, its effects on individuals and the wider community and the types of identity theft.... The problem of identity theft and identity fraud is worsened by the lack of cyber borders and the increase in globalization, which make it possible for identity thieves to commit crimes within and outside the borders of the US....

5 Pages (1250 words) Research Paper

The Effects of Population Density and Noise

The paper "The effects of Population Density and Noise" discusses that people need to protect themselves from noise as it has a damaging impact.... Concepts of territoriality, personal space and privacy vary according to persons, but there are general rules that apply to all of them....

5 Pages (1250 words) Essay

Evolution of Cybercrime

For this paper, I have selected the cybercrime of identity theft, which has been a challenge due to its nature as a non-index type of crime or white-collar crime.... The victims of identity theft can face many consequences in case they are held liable for the thieves' actions.... Even children have been found to be victims of identity theft, as thieves manage to penetrate through the national system and steal children's identity (Ebenger, 2008)....

14 Pages (3500 words) Assignment

Electronic Identity Threats

As every year the number of identity theft is increasing along with the cost and mental stress the victims have to bear associated with the severity of the theft.... As the Internet continues to evolve, threats related to hacking and security breaches are protected by cryptographic protocols but electronic identity theft has risen.... There is another dimension of electronic identity theft which can be conducted to physically steal personal documents including bank statements, checkbooks, investigate trash bags for confidential data and steal mails from the post boxes....

6 Pages (1500 words) Case Study