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Abstract:
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In this computerized, globalised and internet world our computer collects various types of
information’s about every human being and stores them in files secreted deep on its hard drive. Files like
cache, browser history and other temporary Internet files can be used to store sensitive information like
logins and passwords, names addresses, and even credit card numbers. Now, a hacker can get at this
information by wrong means and share with someone else or can install some nasty software on your
computer that will extract your sensitive and secret information. Identity Theft posses a very serious problem
to everyone today. If you have a driver’s license, a bank account, a computer, ration card number, PAN card
number, ATM card or simply a social security number you are more than at risk, you are a target. Whether
you are new to the idea of ID Theft, or you have some unanswered questions, we’ve compiled a quick
refresher list below that should bring you up to speed. Identity theft is a term used to refer to fraud that
involves pretending to be someone else in order to steal money or get other benefits. Identity theft is a serious
crime, which is increasing at tremendous rate all over the world after the Internet evolution. There is
widespread agreement that identity theft causes financial damage to consumers, lending institutions, retail
establishments, and the economy as a whole. Surprisingly, there is little good public information available
about the scope of the crime and the actual damages it inflicts. Accounts of identity theft in recent mass
media and in film or literature have centered on the exploits of 'hackers' - variously lauded or reviled - who are depicted as cleverly subverting corporate firewalls or other data protection defenses to gain unauthorized
access to credit card details, personnel records and other information. Reality is more complicated, with
electronic identity fraud taking a range of forms. The impact of those forms is not necessarily quantifiable as
a financial loss; it can involve intangible damage to reputation, time spent dealing with disinformation and
exclusion from particular services because a stolen name has been used improperly. Overall we can consider
electronic networks as an enabler for identity theft, with the thief for example gaining information online for
action offline and the basis for theft or other injury online. As Fisher pointed out "These new forms of hightech
identity and securities fraud pose serious risks to investors and brokerage firms across the globe,"
I am a victim of identity theft. Being a victim of identity theft I felt the need for creating an awareness
among the computer and internet users particularly youngsters in India. Nearly 70 per cent of Indian‘s
population are living in villages. Government of India already started providing computer and internet
facilities even to the remote villages through various rural development and rural upliftment programmes.
Highly educated people, established companies, world famous financial institutions are becoming victim of
identity theft. The question here is how vulnerable the illiterate and innocent rural people are if they suddenly
exposed to a new device through which some one can extract and exploit their personal data without their
knowledge? In this research work an attempt has been made to bring out the real problems associated with
Identity theft in developed countries from an economist point of view. |