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Transcript of Fingerprint - 56894


What can we do to protect our identity while shopping online?
Signs of a possible identity theft
Ways to prevent identity theft
What can fraudsters do?
Consequences of identity theft for customers
Thanks for
Reference list

Consequences of stolen identity for online retailers
Identity theft
BUS1010 Information Management

From: 15407434

What is considered to be an identity theft?
Identity theft is claimed to be one of the fastest growing crimes around the world
(Grover, 2011)
. As the IT industry is being constantly developed, cyber thieves are now able to discover more and more ways of stealing an individual's identity
(Theft, 2016)
. Both customers and companies may be victims of the cybercrime. Global e-retailers are suffering greatly from large financial losses and a decrease in customers' trust due to the cyber-attacks
(Kiryanova and Makienko, 2011)
This research is going to consider the consequences of identity theft for both companies and consumers as well as the possible ways of protecting one's identity while shopping online.

What can we do to protect our identity while shopping online?
The action of getting hold of an individual's personal piece of information and then using it to receive a
personal gain may be considered as an identity theft (Theft, 2016).

Identity theft is considered to be a relatively new type of crime. However, it existed long before the Internet was around. In the past, identity thieves used to go through people’s trash in order to find personal identification information on thrown out papers such as bills etc. Criminals could also use phone scams to get hold of others' private information for their personal gain. Nowadays, the rapid rise in technology development made the identity theft more common as it became easier for criminals to perform the identity theft without getting caught.

E-retailers generally request their customers’ contact and credit card information when the online purchase is made. The personal information of customers is then recorded in retailers' personal database that is generally assumed to be secured. However, all the employees that work for the e-retailers have access to their customers' database and are under risk of being bribed or even selling others' personal details to criminals.

The rapid rise in identity theft means that it is important to educate ourselves on what precautions are needed to be taken before making online purchases and transactions through e-retailers
(Spamlaws, 2016).

• Appearance of unrecognised purchases on individual’s bank or credit card statement.
• Loss of important documents such as passport or driving license.
• Refusal from gaining any financial services, loans or credit cards in spite of having a good credit rating.
• Bills or letters from a bank do not arrive.
• Arrival of letters from debt collectors or solicitors that are written in an individual's name, but cannot be recognised.
• Arrival of receipts for goods and services in an individual's name that cannot be recognised.
• While applying for state benefits an individual is told to already be claiming those

According to the extensive research due to a constantly changing online shopping environment with an identity fraud crime on the rise, more consumers perceive online transactions as risky. As a result, loss of customers’ trust may be one of the main barriers for the growth of online retailers
(Kiryanova and Makienko, 2011)

Such massive online retailers as Ebay and Amazon are under a constant attack of fraudsters who seek the customers’ personal information for their own gain. In the same time, the companies are blamed for the lack of security policies on the personal information of customers.

In 2014 Ebay was in the risk of a planned identity fraud during which the hackers stole personal data of retailer's 145 million users such as names, date of birth, emails, postal addresses and phone numbers, which is needed to break in to others' accounts
(Sparkes, 2014)
. Amazon is also being constantly accused of personal information leakage so it had to change its security policies multiple times
(Honan, 2012).

Identity theft takes place when criminals access enough information about an individual’s identity (date of birth, name and address) in order to commit an identity fraud. Identity theft happens while a victim is alive or deceased.

Stealing an individual’s identity details does not constitute identity fraud unless the details are used for any of the
following activities

• To obtain documents such as passport and driving license in a victim’s name.
• To obtain credit cards, state benefits or loans and take over mobile phone contracts.
• To open and take over existing bank accounts.
• To order goods in an individual’s name
(ActionFraud, 2016)

Credit reports and bank statements have to be
regularly for any suspicious activities.
It is required to store documents with any type of personal information (passport, driving license, utility bills, bank statements and transaction receipts) in a
secure place
Old documents which include individual’s name, address or other personal details have to be
shredded or deleted
While changing an accommodation it is important to contact an individual’s bank, utility providers, mobile and phone providers, personal doctor and dentist, TV licensing etc., and to
them about one's new address. It has to be done so the new tenants will not have any access to the individual’s personal details.
The less an individual gives personal details about oneself, the less is the risk of the leakage of this information.
It is recommended to use
only secure
websites for online shopping, which display company’s contact details. On the website page there also has to be a golden padlock symbol and a clear privacy and returns policy

For customers of online retailers being victims of identity theft may cost their valuable time and money. Unless taking precautions to prevent identity theft, an individual may result in retrieving thousands of pounds from one’s bank as well as being kept on hold while also having to cancel and order new credit cards.

It was advised by the Home Office in 2007 that a person who is suspecting an identity fraud should do the

Contact creditors
with whom an individual have an account (banks, phone and utility companies, store cards etc.) so they could monitor one’s account. In this case a bank will be responsible for the further investigation of the case and all related procedures.

Contact a credit reference agency
such as Callcredit, Experian or Equifax to be provided with further steps in order to resolve the situation.

Contact the UK’s fraud prevention service (CIFAS)
in order to indicate that an individual’s personal details may be used in the identity fraud
(BBC, 2016)

• ActionFraud (2016)
Identity fraud and identity theft
. Available at: http://www.actionfraud.police.uk/fraud_protection/identity_fraud [Accessed: 16 November 2016].
• BBC (2016)
Watchdog - identity fraud - BBC One
. Available at: http://www.bbc.co.uk/programmes/articles/Pmw0JZLRc3T2NGT8nv78JJ/identity-fraud [Accessed: 17 November 2016].
• Copyright (2016)
Identity theft
. Available at: https://ico.org.uk/for-the-public/identity-theft/ [Accessed: 16 November 2016].
• Grover, A., Berghel, H. and Cobb, D. (2011)
The State of the Art in Identity Theft
. Edited by Marvin V. Zelkowitz.
• Honan, M. (2012)
Amazon changes security policy to avoid identity theft
. Available at: http://www.bitdefender.com/security/amazon-changes-security-policy-to-avoid-identity-theft.html [Accessed: 16 November 2016].
• Kiryanova, E. and Makienko , I. (2011) “
The effects of information privacy and online
,” Academy of Marketing Studies Journal, 15 (Special Issue).
• Spamlaws (2016)
History of identity theft
. Available at: http://www.spamlaws.com/id-theft-history.html [Accessed: 17 November 2016].
• Sparkes, M. (2014)
EBay hack puts millions at risk of identity theft
. Available at: http://www.telegraph.co.uk/technology/internet-security/10847374/eBay-hack-puts-millions-at-risk-of-identity-theft.html [Accessed: 16 November 2016].
• Theft, I. (2016)
What is identity theft?
Available at: http://www.identitytheft.org.uk/ [Accessed: 5 November 2016].
Full transcript