Identity Fraud And Identity Theft

The tremendous development of Internet technology has created various resources on the Web instantly accessible to users-commerce has become a very important technical advancement for businesses in varying business practices (Brodie et al, 2007; González et al, 2008).The business arrangements have also developed strategies to utilize the technology and expand their client base and implement Electronic commerce (e-commerce) to present their products or services to the securities industry through their power to form and hold a job network. With any information technology, such online selling of merchandise and services, ensuring transaction security is critical. Nevertheless, assessing the securities perceived by consumers usually involves a …show more content…
Identity theft is not new, there have always been fraudsters who would use somebody else's personal data such as name, social security numbers (SSN), credit card information or other identifiable information to carry out fraudulent activities. While recent advancements in computer processing make it easier for commercial enterprises and consumers to reach each other, they can also be suitable grounds for an impostor to obtain personal identifiable information to commit a crime. Microsoft (2012) extended the definition of identity theft to be whatever sort of fraud that results in the deprivation of personal information, such as passwords, user names, banking information, or credit card numbers. An Internet Usage Statistics, published by the Miniwatts Marketing Group (2011) establishes that the worldwide Internet users in December of 2000 was "360,985,492", and increased to "2,267,233,742", in December 2011, a growth of 528.1%. According to James (James, 2010), fears in consumers' security can be categorized in three ways: the fear of identity stealing and fraud; a negative perception of the merchant's security practices; and hesitation during the check procedure. However, technology, mainly the Internet, facilitates more harming schemes that in many cases results in financial losses and in some cases the victims of identity may experience difficulty getting credit or restoring their name. (Hernández et al, 2010), more and more consumers buy groceries and other foodstuffs via the Internet, and thus sales volume has been rising for the past 5 years at greater than 25% per year compared with the stagnant increase in the