Google announced Monday that it will reduce the lifespan of “Cookies” from 30 years to 2 years. Such Cookies are small files planted on the computers of consumers, primarily tracking internet use and recognizing users’ preferences. Such move will somewhat improve consumers’ privacy.
Identity Theft, which can be exacerbated by cookies associated with Malware programs that infiltrate computers of unaware consumers, can possibly be reduced if Internet Browsing was totally anonymous; however It is highly unlikely that Internet Browsing will ever be totally anonymous for two main reasons. First, technologically speaking, 100% anonymity is practically impossible. Second, existence of search engine companies, such as Google, would be financially jeopardized.
On the surface, Google’s announcement may seem as a drastic measure, cutting the lifespan of its cookies by more than 93%. More…
Identity Theft is often committed through traditional methods such as wallet stealing and dumpster diving. Consumers are also rightfully concerned about cyber-space threats such as Phishing. Identity Thieves “Phish” by soliciting sensitive information through emails or websites fraudulently pretending to represent reputable institutions. Many consumers have become aware of Phishing threats, and have learned not to divulge sensitive personal information through such channels. However, many consumers continue to divulge information they deem “safe”, or “insufficient” to possibly constitute a security threat. For example, a consumer may not be concerned about providing last 4 digits of a social security number, or other single items such as email address, mailing address, date of birth, or other. What many such consumers don’t realize is that such “insufficient” information could possibly expose them to “Mosaic” Phishing. More…
In its own way, Identity Theft, with tens of Millions of victims this decade, is a phenomenon. It has revolutionized the way criminals steal and the way law enforcement must deal with such problem. Paypal, with over 133 Million accounts worldwide, is also a phenomenon, having revolutionized payment processing, and the way consumers and vendors pay and receive money. Paypal, and other similar payment processors, are primarily threatened by Phishing. On the other hand, traditional Credit Cards are primarily threatened by various Credit Card Fraud schemes, including Phishing. Does Paypal have an advantage over traditional Credit Cards when it comes to Identity Theft concerns?…More…
Identity Theft is not a laughing matter. Identity Theft losses in the U.S.A. totaled more than $106 Billion in 2005 and 2006 on a combined basis, with a corresponding 17.3 Million Identity Theft victims (implied from BBB/Javelin reports). We have been writing several articles per week on the topic, examining a multitude of data, reports and statistics. We have also analyzed various related social and economic consequences. Sometimes, even when examining a subject as serious as Identity Theft, it helps to take a step back, and relate to it from a non-traditional perspective.
Who is the most famous Identity Thief we know, and what can we learn from him?
Identity Theft has taken center stage this week following the release by The President’s Identity Theft Task Force of its latest plan: Combating Identity Theft, A Strategic Plan. The aim of the plan, outlined in a 120 page document, is undoubtedly a noble one: to eliminate or drastically reduce Identity Theft and its related negative consequences. In doing so, the task force analyzed most aspects of Identity Theft and its related crimes and tools including Phishing, Dumpster Diving, Carding, Skimming, etc…
The plan has several strengths and represents a great effort to confront one of the most daunting crimes of the new Millenium. However, there are also some weaknesses, as well as potential red flags, as illustrated below…More…
The world has experienced an unprecedented growth in Identity Theft during recent years, fueled by multiple channels including sophisticated Phishing schemes, Malware and infiltration of organized crime. The globalization of Identity Theft will mean that regional efforts to contain the problem will achieve minimal results at best.
In the U.S. it is estimated that as many as 17.3 Million individuals were victims of Identity theft during 2005 and 2006 on a combined basis, with an estimated total of $106 Billion in associated losses (BBB/Javelin). In Canada, the Canadian…More…
There have been several voices expressing the opinion that Immigration contributes to Identity Theft; but is that true? Unfortunately, when such voices are expressed, and despite merely being opinions, they resonate with anti-immigration supporters. Many such voices fail to realize that when individuals decide to leave their homeland, many are also leaving their spouses, children, parents, friends, family, and their homes. Such unfortunate souls do not leave so much that matters to them behind, for the pursuit of a career in crime in another country. On the contrary, when an individual makes the hard choice of uprooting himself, it is for the pursuit of an honest money earning job, and a better life in another country. After all, doesn’t it make sense that those interested in crime, can practice crime in their own country, without the need to uproot themselves? We examined State by State Identity Theft complaint data to shed further light on this issue… More…
In a recent informal poll published at www.CreditLock.com, more than 57% of respondents said they know at least one victim of Identity Theft. That means about one in every two individuals has either been a victim of Identity Theft, or knows someone who has been a victim.
Initially, such result may seem surprising and excessive. It is possible that the results are skewed by the fact that visitors to www.creditlock.com are inclined to be those seeking information on Identity Theft for the same fact that they are themselves victims or know victims. However, even if such results may be skewed, the following facts lead us to conclude that they are not too far from the truth…. More….
Is technology a blessing or a curse? Some may reply: what kind of question is that, after all, if technology was not a blessing, why would human kind pursue it? Technological advances have given us the car, the plane, the moon, an ample food supply, solid shelter, warm clothes, energy, medicine, etc… Technology has also given us nuclear bombs, germ warfare, global warming, and some would argue, loss of privacy… More….
A recent poll released yesterday by Zogby International revealed that 91% of respondents are concerned about Identity Theft. Yet, the same survey also revealed that 69% of respondents said that they never, rarely, or only sometimes read Company Privacy Policies. Only 7% said they always read such policies, while 24% said they read most of the time. Privacy Policies usually state how a company will use personal information gathered from the customer.
Such results may seem odd and unexpected. You are concerned that your personal information may be compromised. You are concerned this would subject you to the possibility of Identity Theft. You are voluntarily providing merchants with your personal information. Why wouldn’t you want to know how your information will be used?
Philosophically, the answer may be simple. If a merchant is going to misuse personal information, does it really matter what they say in their Privacy Policies? Such skepticism is reflected in the Zogby Poll. Almost half of respondents said they believe companies will share or sell their information despite promising not to do so, while 35% believe that companies will not follow up with promises to protect such information.
We actually believe that reputable institutions and businesses have too much to loose from deliberately misleading the public in the statement of their Privacy Policies. Although skepticism, whether at a subliminal or conscious level, may play part in consumer behavior, human nature for “passiveness” also plays another part. Consider the following additional statistics.
According to a Federal Trade Commission report on Identity Theft, 62% of Identity Theft Victims in 2006 did not notify a Police Department while 57% of Victims did not contact a Credit Reporting Agency. Once again, this may seem unusual. If someone stole your identity, why wouldn’t you contact the Credit Reporting Agencies in order to protect your credit and limit the possibility of financial damage? Is it possible that so many people do not realize that contacting the Police and Credit Reporting Agencies are probably the first things to do when a person becomes a victim of Identity Theft?
Whether it is “Human Passiveness”, “Skepticism”, or another reason, unless consumers take active preventive measures, consumers certainly have reason to continue to be concerned about Identity Theft. There are many resources offering Identity Theft information and services where consumers can learn about preventive measures, such as www.CreditLock.com and www.ftc.gov.
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