Identity Theft

Identity Theft

IdentityTheftNameInstitutionDate

IdentityTheft

Identitytheftrefersto a crimethat takeplacewhenan individual’spersonalinformationisstolenwithout his orher consent.Financialstatus,credithistory,as wellasthe reputationof thevictimmay highlybe affectedandcompromisedwhenever thistypeof crimetakesplace.Compromisedordreadfulcredithistorymay playan immenserolein makingan individualbedeniedaccommodation,loans,andin worstscenariolosea job.Accordingto Florin (2013), perpetrators of identitytheftmust haveaccessto adequatepersonalandprivateinformation,like addressandnameof an individualin orderto carryout their illactsin asuccessfulmanner.Theseperpetrators createa databreachwith an aimof gainingoraccessingpersonaldata information,purchasepersonaldata, makeuseof phishing to enticeusers to giveup data, orinstallspyware to capturekeystrokes of victims.Mostof thesefraudsters target carelesslyplaceddocumentsthuspeopleought to takeimmensecareof their documents.Others lurkaround variousATMs with an aimof capturingPINnumbersofinnocentpeople.In mostpartsof theUnited States andotherpartsof theworld,identitytheftcontinuesto increasedayin dayout.Inthenearfuture,manyinnocentindividualsmay be forcedto payhigherinterestratesandservicefeesin orderto maintaintheeconomyof thenation,ifpropermeasureson waysof reducingthiscrimearenot implemented.Trendsof

Accordingto Finklea (2010), 7.9 million householdsorapproximately6.6% of householdsin theUnited States, reportedthatat leastone of their membershadfallenvictimof one ormorekindsof identitytheft.Thisreportfurthershowedan increaseof 23 percent from 2005to 2007 of thenumberof householdswhoseat leastone memberexperiencedone ormorekindsof identitytheft(Finklea, 2010). Again,thereportshowedthatthenumberof householdsthat experiencedcreditcardtheftincreasedby 31 % from 2005 to 2007 whilethenumberof householdsthat experiencedmultipletypeswithin thesameperiodincreasedby 37% (Finklea, 2010).Impactsof Identity theftandPreventive Measures

Thereare severalmeasuresthat havebeentakento curbidentitytheft.Peopleare advisedto usestrongpasswordson their cardssince mostperpetrators of identitytheftguesssimplepasswordsin a quickmanner.Itis of immensesignificancethatpeopledonot usethelastfour digitsof their birthdateandsocialsecuritynumbersamong othersimplepasswordsthat can easilybe unrevealed. Again,peopleare advisedto storetheir personalinformationandothersensitivedocumentsin safeplaces.Hossein(2006) listbankaccountnumbers,socialinsurancenumber,pre-approved creditapplications,phonebills,socialinsurancenumber,andpassportsas someof themostsensitivedocumentsthat one should keepin safeplaces.Again,individualare advisednot to giveout their personaldetailsandinformationoverunencrypted wirelesscommunication,like mobilephones,since thishas a highlikelihoodof leadingto casesof identitytheft.One should embracevariousprivacy-enhancing technologies, like store-value cardsandpseudonyms,andthathelpone transmitinformationin an encrypted wayas wellas carryout electronictransactionsin an anonymousmanner.Thesetechnologies comealong with strongencryption to preventanyleakage of an individual’sinformationto an unauthorizedpeople.

Undeniably,mostfraudsters useother’sonline profilesto impersonatethem hence,itis wisenot to createonline profilesthat containa person`srealinformation.Similarly,itis hightimethat peopleensuredthattheygetbacktheir creditcardfollowinganycreditcardtransaction.One should cancelanyunusedcreditcardnumbersoas to minimizecasesof identitytheft.Ifone failsto gethis orher newcreditnumberon time,thenheorsheshould callback Credit Card Company orbank.

IRSfurtherplaysa keyrolein helpingtaxpayers avoidbeingvictimsof identitytheft.ItworkscloselywithIdentity Protection Specialized Unit to protectidentitiesof alltaxpayers as wellas in ensuringthe securityof al data. Further,IRS has modernizedscreening machinesthat playan enormousrolein preventingfraudulentreturnsthus,securingandprotectingtaxpayers.

Additionally,keepingup to datewith securitysoftware updates will helporganizationsandcompaniesavoididentitytheftsthat are fuelledby technicalmeans,liketheexploitation of computerhardwareorsoftware’s weaknesses.Mostunpatched systemoperateswith knownweakness,which has a highlikelihoodof actingasan invitationto hackers. However,applicationof patchesconsumestimeandresourcestherefore,seniormanagersin organizationsshould ensurethatallsecurityupdates arehandledin an efficientandfastmanner.Similarly,dataflowmapping is paramountfororganizationstotracethestorageof essentialcustomerdata in afastmanner.In connectionto this,managerscan easilytrackcustomerinformationas wellas accesswhowill accesssuchstoredinformation.

Conclusion

Undoubtedly,identitythefthas prevailedforquitea longtime.Propermeasuresandstrategiesshould be implementedto reduceits occurrencessince itposesagreatthreatto theentirenation.Effectivewaysof reducingitshould beimplemented.

References

Finklea,K.M. (2010). IdentityTheft: Trends andIssues. Collingdale: DIANE Publishing.

Florin,K. (2013). WarrantDetails Foxwoods Slot Reward Scam. Retrieved from,http://www.theday.com/article/20130107/NWS02/130109816/0/SEARCH.

Hossein,B. (2006). Handbookof Information Security, Information, Warfare, Social, Legal, andInternational Issues &amp Security Foundations. New York: John Wiley&amp Sons.