IDENTITY RISK

Identity Risk



Identity Risk

Introduction

Identity fraud, which is also termed as identity theft happens when someone's information for personal identification is utilized devoid of his/her knowledge or/and permission by a person who is most probably a stranger to that individual. Identity theft is type of impersonation, which facilitates somebody to commit fraudulent activities and normally ends up in monetary loss to the victim and monetary gain to the individual committing the fraud. Within last ten years, the amplifying quantity to information (personal in nature) available on the web has turned this into a budding issue. This paper discusses identity theft in a holistic context along with shedding light on the laws relating to identity theft. In addition to this the paper discusses the effects of these laws on organization and how may the organization address these sorts of thefts.

Discussion

An individual's identity means the information, which distinguished him/her from the rest of the people. In few ways, this includes an individual's activities and is highly linked to his/his reputation. Identity of an individual transmits to information that exists, while an individual's reputation depicts attitudes regarding an individual's identity. Regrettably, identity theft could occur with relative ease and in a number of ways. Stolen wallets and purses, direct access, online data, impersonation, inside sources, mail theft and dumpster diving are the most common methods through which an identity gets stolen (Baum, 2007).

In recent years, awareness among consumers regarding identity theft has highly increased, mainly due to the media coverage. At both the state and federal levels, protests by consumers have ended up in legislative activities. The ITADA (Identity Theft and Assumption Deterrence Act) was passed by the Congress in the year 1998 (18 USC § 1028). As per the act identity theft occurs at the point at which somebody intentionally exploits an ...