Combat Identity Theft Research Articles

Identity theft fraud- major loophole for FinTech industry in India

PurposeThe fraud landscape for FinTech industry has increased over the past few years, certainly during the time of COVID-19, FinTech market reported rapid growth in the fraud cases (World Bank, 2020). Taking the consideration, the paper has qualitatively understood the loopholes of the FinTech industry and designed a conceptual model declaring “Identity Theft” as the major and the common fraud type in this industry. The paper is divided in two phases. The first phase discusses about the evolution of FinTech industry, the second phase discusses “Identity Theft” as the common fraud type in FinTech Industry and suggests solutions to prevent “Identity Theft” frauds. This study aims to serve as a guide for subsequent investigations into the FinTech sector and add to the body of knowledge regarding fraud detection and prevention. This study would also help organisations and regulators raise their professional standards in relation to the global fraud scene.Design/methodology/approachThis paper revisits the literature to understand the evolution of FinTech Industry and the types of FinTech solutions. The authors argue that traditional models must be modernised to keep up with the current trends in the rapidly increasing number and severity of fraud incidents and however introduces the conceptual model of the common fraud type in FinTech Industry. The research also develops evidences based on theoretical underpinnings to enhance the comprehension of the key fraud-causing elements.FindingsThe authors have identified the most common fraud type in the FinTech Industry which is “Identity Theft” and supports the study with profusion of literature. “Identity theft” and various types of fraud continue to outbreak customers and industries similar in 2021, leaving several to wonder what could be the scenario in 2022 and coming years ahead (IBS Inteligence, 2022). “Identify theft” has been identified as one the common fraud schemes to defraud individuals as per the Association of Certified Fraud Examiners. There is a need for many of the FinTech organisations to create preventive measures to combat such fraud scheme. The authors suggest some preventive techniques to prevent corporate frauds in the FinTech industry.Research limitations/implicationsThis study identifies the evolution of FinTech industry, major evidences of Identity Thefts and some preventive suggestions to combat identity theft frauds which requires practical approach in FinTech Industry. Further, this study is based out of qualitative data, the study can be modified with statistical data and can be measured with the quantitative results.Practical implicationsThis study would also help organisations and regulators raise their professional standards in relation to the global fraud scene.Social implicationsThis study will serve as a guide for subsequent investigations into the FinTech sector and add to the body of knowledge regarding fraud detection and prevention.Originality/valueThis study presents evidence for the most prevalent fraud scheme in the FinTech sector and proposes that it serve as a theoretical standard for all ensuing comparison.

Preventing Identity Theft using Blockchain Technology

Abstract: This paper's purpose is to describe what Blockchain Technology is and how it can be used to combat identity theft. Despite the fact that blockchain technology came to existence with Bitcoin, blockchain encompasses a comprehensive potential outside of cryptocurrency. Basically, blockchain could be a shared database that permits multiple parties to access information and verify that data in real-time It can transform the approach that we do things in various industries. It is used for a variety of things besides bitcoin, such as tracking ownership, digital assets, physical assets, and voting rights. It can store and run computer code known as smart contracts.

A SURVEY ON BIOMETRIC AUTHENTICATION SYSTEMS IN CLOUD TO COMBAT IDENTITY THEFT

Biometrics has by far proven to be an effective solution for many of the security challenges that is prevalent in most of the technical fields in this Digital era. It is the measurement of physical or behavioral traits in humans used for unique identification. Biometricsuses the pattern recognition technology of Digital Image Processing for identifying unique features in humans. Most commonly applied or considered biometric modalities comprise fingerprint impression, facial landmarks, iris anatomy, speech recognition, hand writing detection, hand geometry recognition, Finger vein detection and signature identification. Biometric technology is applied in various fields, Security systems being one among them. This paper presents a thorough survey on how biometrics can be effectively applied to eliminate oneof the cloud security issue, identitytheft. Awide range of biometric authentication system protocols and implementations in cloud environment, especially to combat identity theft have been proposed earlier.

Editorial

This issue of PER consists of 11 articles and one case note dealing with a wide range of topics in the global legal landscape. Monray Botha analyses the responsibility of South African companies towards their employees for achieving social justice in the corporate world. Fawzia Cassim examines how identity thieves use the personal information of individuals to commit identity fraud and theft, and looks at legislative solutions introduced in South Africa, the United States of America, the United Kingdom and India to combat identity theft crimes. Howard Chitimira discusses the regulation of market manipulation in Australia with the purpose of assessing if lessons can be learnt from it for South Africa. Leentjie de Jong deals with parenting coordination, a new alternative dispute resolution process to alleviate the negative effects of high-conflict co-parenting cases on the South African court system and the children of divorce. Yvonne Donders investigates the cultural dimensions of the right to health endorsed by several treaty provisions and treaty monitoring bodies and comes to the conclusion that states can implement the right to the enjoyment of the highest attainable standard of health in a culturally sensitive and responsible way by consulting cultural communities and individuals. Joel Modiri reflects on the development of a radical democratic political theory that shifts analytical and conceptual registers in which the relationship between law and poverty is conventionally addressed and argues for the creation of a radical alternative that defatalizes the present. Stephen Peté's unconventional historical examination of the Barberton Prison Complex during the 1980s is published in two parts. The first part deals with the deaths of three prisoners and the injury of many others during a day of violence at the Barberton prison farm on 29 December 1982 and the second part examines a string of violent incidents which occurred within the Barberton Prison Complex during the course of 1983, leading to nine inmate deaths. Robbie Robinson raises the question of whether or not the constitutionally entrenched right to make decisions concerning reproduction may be limited, as the continued existence of the State may ultimately be jeopardised if the size of the population is not limited to the available levels of subsistence. Olufemi Soyejudiscusses the incapacity of low-income countries to realise the Millennium Development Goals and seeks to make a case for the adoption of a development-driven approach to law as a linchpin for the post-2015 development agenda. Carmel van Niekerk considers the constitutionality of section 294 of the Children's Act 38 of 2005, which permits commissioning parents to engage in surrogacy arrangements only in instances where they are able to provide a genetic link to their future offspring. In the only case note, Salona Lutchman evaluates the implications ofSS v Litako 2014 SACR 431 (SCA): A Clarification on Extra Curial Statements and Hearsay.
 

Protecting Personal Information in the Era of Identity Theft: Just how Safe is our Personal Information from Identity Thieves?

Identity theft has become one of the fastest growing white collar crimes in the world. It occurs when an individual's personal information such as inter alia his or her name, date of birth or credit card details is used by another individual to commit identity fraud. Identity theft can be committed via physical means or online. The increased use of the Internet for business and financial transactions, social networking and the storage of personal information has facilitated the work of identity thieves. Identity theft has an impact on the personal finances and emotional well-being of victims, and on the financial institutions and economies of countries. It presents challenges for law enforcement agencies and governments worldwide. This article examines how identity thieves use the personal information of individuals to commit identity fraud and theft, and looks at legislative solutions introduced in South Africa, the United States of America, the United Kingdom and India to combat identity theft crimes. The article examines measures introduced by the respective governments in these countries to counteract such crimes. Finally, the article will propose a way forward to counteract such crimes in the future. The study reveals that identity theft is a growing and evolving problem that requires a multi-faceted and multi-disciplinary approach by law enforcement agencies, businesses, individuals and collaboration between countries. It is advocated that businesses and institutions should take measures to protect personal information better and that individuals should be educated about their rights, and be vigilant and protect their personal information offline and in cyberspace.

CYBER FORENSICS AND INFORMATION SECURITY: A NEW AND INNOVATIVE BACHELORS DEGREE PROGRAM

Cyber Forensics is an emerging discipline offering significant career opportunities. Professionals in this discipline combat identity theft, corporate theft, cyber terrorism, and the exploitation of minors. To meet the current and growing need of these professionals, Robert Morris University has developed a new and innovative Bachelor of Science in Cyber Forensics and Information Security (BS-CFIS). This paper describes the rationale, development, and implementation of this new undergraduate degree program. Initial enrollment projections are cited in relation to actual student enrollment for the first year of the program. In addition, future enrollment projections for the new degree program are explored.

How Much is the Public Willing to Pay to be Protected from Identity Theft?

Identity theft has become one of the most ubiquitous crimes in the USA with estimates of the number of households being victimized annually ranging between 5% and 25%, resulting in direct losses totaling hundreds of billions of dollars over the past few years. Government efforts to combat identity theft have included legislation criminalizing and increasing penalties as well as regulatory efforts designed to protect individual identifying information held by financial and other business organizations. At the same time, individuals are taking their own preventive actions and purchasing private protection such as credit monitoring and identity theft insurance services. We use data from a large sample of residents from four states (Illinois, Louisiana, Pennsylvania, and Washington) in order to assess the public's willingness to pay (WTP) for a government program designed to reduce identify theft under two separate conditions, one promising a 25% reduction in identity theft and the other promising a 75% reduction in identity theft. Results indicate that: (1) between 40% and 66% of the public is willing to pay an additional tax for identity theft prevention, more so when the promise of a reduction is highest (75% compared to 25%) with an average WTP of $87, and (2) WTP is highest among individuals who carry many credit cards, who subscribe to an identity theft protection service, and who take active steps in preventing fraud by shredding bills and paying with cash, but is lowest among individuals who believe that taxes are too high. Converted into a “per crime” cost and combined with the portion of identity theft costs that are borne directly by business, we estimate the average cost per identity theft to range from approximately $2,800 to $5,100.

Recombinant Identities: Biometrics and Narrative Bioethics

In recent years, there has been a growing interest in finding stronger means of securitising identity against the various risks presented by the mobile globalised world. Biometric technology has featured quite prominently on the policy and security agenda of many countries. It is being promoted as the solution du jour for protecting and managing the uniqueness of identity in order to combat identity theft and fraud, crime and terrorism, illegal work and employment, and to efficiently govern various domains and services including asylum, immigration and social welfare. In this paper, I shall interrogate the ways in which biometrics is about the uniqueness of identity and what kind of identity biometrics is concerned with. I argue that in posing such questions at the outset, we can start delimiting the distinctive bioethical stakes of biometrics beyond the all-too-familiar concerns of privacy, data protection and the like. I take cue mostly from Cavarero’s Arendt-inspired distinction between the “what” and the “who” elements of a person, and from Ricoeur’s distinction between the “idem” and “ipse” versions of identity. By engaging with these philosophical distinctions and concepts, and with particular reference to the example of asylum policy, I seek to examine and emphasise an important ethical issue pertaining to the practice of biometric identification. This issue relates mainly to the paradigmatic shift from the biographical story (which for so long has been the means by which an asylum application is assessed) to bio-digital samples (that are now the basis for managing and controlling the identities of asylum applicants). The purging of identity from its narrative dimension lies at the core of biometric technology’s overzealous aspiration to accuracy, precision and objectivity, and raises one of the most pressing bioethical questions vis-à-vis the realm of identification.

Identity Theft: Comparing Canadian and Mexican Students' Perceptions and Awareness and Risk of Victimization

While there is considerable descriptive information on identity theft and identity fraud originating from a few countries, there is a dearth of information about people's knowledge and awareness of identity theft and their potential risk of becoming a victim. This study measured the self-reported perception and awareness about the nature, risk and effects of identity theft and a variety of fraudulent behaviors among 104 Mexican and 360 Canadian post-secondary students. The findings indicate that overall the students were not well informed about identity theft and were not overly vigilant in protecting their personal identity information. However, there were some differences between the two groups. Based on the findings, general policy implications and educational strategies are offered to better combat identity theft within the respective countries studied. A number of suggestions for future research are also proposed.

Authentication and protection for e-finance consumers: the dichotomy of cost versus ease of use

Multifactor authentication is a tool to combat identity theft and is mandated by the Federal Financial Institutions Examination Council. However, there are only a few US financial institutions that have implemented two-factor authentication. A goal for financial institutions is to provide both a secure and easy-to-use system for customers. This article describes web authentication technologies that are currently available to financial institutions and provides an interpretation of survey results to identify the perceptions/expectations of online customers. In our online banking customer survey, we found that online banking customers are willing to sacrifice some ease-of-use for more secure online banking transactions.

Multi-dimensional credentialing using veiled certificates: Protecting privacy in the face of regulatory reporting requirements

Traditional certificates are designed to establish and document characteristics belonging to a specific individual, be it an identification number (i.e., social security number, driver's license number), a level of achievement (i.e., college degree, license to practice a profession), or membership status (i.e., company ID, trade union card). The digital certificate extends this concept into the electronic world, identifying and linking the certificate holder to a public encryption key that is subsequently used as a means of identification. Current identity certificates provide unique identification and tracking, however it is exactly these characteristics that have led to concerns over identity theft and privacy of personal information. The veiled certificate introduced in this paper addresses these issues by providing means of linking certificates from multiple certifying authorities while masking the user's identity from non-authorized individuals and satisfying the regulatory need of unique, explicit identification. With the ability to be implemented within existing X.509 standards, veiled certification extends traditional digital certificates with features useful in combating identity theft and invasion of privacy.

Student and Non-Student Perceptions and Awareness of Identity Theft

Several recent reports have recognized identity theft as a major concern to law-enforcement agencies and the judicial system in Canada. While there is considerable descriptive information on identity theft and identity fraud in Canada, there is a dearth of information about peoples’ knowledge and awareness of identity theft and their potential risk to becoming a victim. This study measured the self-reported perception and awareness about the nature, extent, risk, and effects of identity theft and a variety of fraudulent behaviours among 360 college/university students and 106 non-students using a 5-point Likert scale survey. The findings indicate that students are perhaps slightly more at risk but are also somewhat better informed than adult non-students about identity theft. Based on the findings, some general policy implications and educational strategies are offered to better combat identity theft in Canada. A number of suggestions for future research are also proposed.

Identity theft: An exploratory study with implications for marketers

Identity theft is the fastest growing crime in America, and millions of people become victims each year. Furthermore, identity theft costs corporations over $20 billion per year, and consumers are forced to spend over $2 billion and 100 million hours of time to deal with the aftermath. This paper uses a system dynamics model to explore policy options dealing with identity theft and to provide implications for marketers. The results indicate that the current approach to combating identity theft will not work. However, inexpensive security freezes could be effective, because they result in a nonlinear reduction in identity theft that is similar to the “herd immunity” seen in epidemiology. Thus, identity theft can be addressed by protecting just a fraction of the total population.

Biometrics in retailing

PurposeThe purpose of this paper is to offer a preliminary assessment of the potential role for biometrics within the retail sector of the economy.Design/methodology/approachThe paper begins with an outline of the origin and characteristics of biometrics and this is followed by a review of the possible retail applications and an outline of the current barriers to widespread adoption. The paper draws its empirical material from trade sources available on the internet.FindingsThe findings reveal that biometrics has a number of potential applications within retailing including combating identity theft, increasing transaction speed at the point of sale, reducing transaction processing costs for retailers and the development of more individually tailored marketing and customer loyalty systems. However, a number of major barriers need to be overcome if biometrics are to become an integral part of the retail scene. These include acquisition and installation costs, doubts about the accuracy and performance of biometric technologies and public concerns about personal privacy and civil liberties.Originality/valueThe paper offers an accessible review of the potential application of biometrics within retailing, which will interest academics working in retail, business and management and information technology departments in universities and colleges and students studying in these disciplines.

A contextual framework for combating identity theft

Identity theft is on the rise - as is the resulting damage to consumers and countries. In this article, the authors propose a framework to identify stakeholders and the interactive relationships that play multiple roles in combating identity theft

Identity theft: An overview of the problem

Identity theft is becoming a prevalent and increasing problem within the United States. An identity thief only needs one thing - a Social Security Number; with it, he can decimate a victim's life and credit. Historically, federal laws in place to combat identity theft are weak and ineffective. Law enforcement, faced with jurisdictional and technological issues, is ill-equipped to deal with this. State and local law enforcement are forced to look to numerous federal agencies for help in combating this crime. It is difficult to determine the scope of this problem but initial figures show that identity theft has many different types of victims and financial targets. The ways in which identity theives victimize and prevention practices individuals can use to protect themselves are also examined. This article establishes a literature review on which future, and much needed, research can be based.