Survey of Research Literature - Identity Theft

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  • Topic: Identity theft, Identity document, Personally identifiable information
  • Pages : 23 (7416 words )
  • Download(s) : 61
  • Published : December 4, 2010
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Research Analysis

Survey of Research Literature in Information Technology Management Infrastructure

Abstract:

Identity theft is one of the fastest growing crimes in the United States. There are many definitions of identity theft, however this type of crime typically involves illegally utilizing somebody else’s personal information for both personal and or financial gain. Thieves acquire personal information through different methods ranging from stealing physical documents all the way to hacking into corporate databases. The consequence of such theft, range from monetary losses to stress, harassment by creditors, and even arrests for crimes that were committed by somebody else. Consumers can protect themselves from such attacks by utilizing caution in the digital world with firewalls, spyware software and credit reporting tools. Businesses can also utilize identity cards, RFID chips, encrypted databases and protection of identifiable information at all times.

Tables of Contents

Abstract ………………………………………………………………………………….2
Tables of Contents ………………………………………………………………………3
Introduction……………………………………………………………………………...4
What is Identity Theft…………………………………………………………………..5
Consumer…………….……………………………………………………………….....7
Business…………………………………………………………………………………13
Solutions……………….………………………………………………………………..16
Shortcomings of Systems in Place……………………………………………………..19
Conclusion………………………………………………………………………………21
References………………………………………………………………………………22

Introduction
The field of Information Technology is one of the fastest growing fields in the world. Daily innovations and discoveries are flooding our lives. The continual strive for speed and efficiency make the world move faster into the new era of digital information. In addition to advances in computing, many other fields are forced to innovate and comply with the demands of the new 21st century consumer. However with all the convenience and access to this digital information the world faces those who use the technology to destroy information and control others for their own benefit. The two most evident industries that face such challenges are the health industry and the financial industry. Both consists of billions of dollars in revenue each year and pose a lucrative target for the digital underground.

The finance industry is a more interesting topic when it comes to identity theft since it involves the financial system for businesses, financial institutions and consumers. By looking at this industry directly we can see how these affects influence each other and what can be done to protect the consumer and the business sector.

This paper will be separated into consumer and business parts and then further divided into sub parts where the focus would be on specific sections on what is closely related to or can result in identity theft. Once such threats and security issues are identified and thoroughly described, the paper will also cover some of the existing solutions that are currently being implemented by, businesses, financial institutions and even consumers themselves.

Looking at all sides of the problem, identity theft touches upon a variety of issues such as tools that are used to identify ones credentials, information that is stored on computers of thousands or retailers, financial institutions as well as taking into account the technology that makes authentication and financial transactions possible. The spectrum of this is so large that only a small part of it can be analyzed and covered in this paper. What is Identity Theft?

According to numerous sources, identity theft is a way to take someone else’s identity and utilize it for either financial or gains of being accountable for certain actions or consequences. The term identity theft has actually came from the word impersonation or cloning which describes a process of making an exact copy of something or in this case...
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