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IT200groupprojectt - 1 Preventing Identity Theft IT 200...

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Preventing Identity Theft IT 200 Group Project Presented By: There is no doubt that E-commerce is changing and will continue to change the way business is done worldwide. Just about anything can be bought online, e.g. clothes, games, computers, books, cars etc. What more do we want? We can have access to almost everything right in your own home with a click of a mouse. E-commerce is easy, fast and reliable. Some might go to the extreme of saying that it’s safe. Well according to Webster's Thesaurus SAFE means dependable, certain, harmless, secure, snug and trustworthy. Do you really feel that way when you shop online? are you sure the merchant that you are purchasing from has a secure network? Well in this presentation we are going to show you some of the things that you should do to help prevent your Identity from being stolen. According to Ray Martin, a financial adviser for CBS News, in an article explained ‘Identity Theft,’ as the hijacking of personal information for fraud or theft, www.cbsnews.com/stories/ ). Martin also went on to say that this problem affects ordinary American citizens as well as very high-profile Americans, including Oprah Winfrey and Tiger Woods (Preventing Identity Theft 2002). Visa USA Inc, the credit card company reported on it’s website that, identity theft is one of the fastest growing crimes in the United States (www.visausa.com). Visa also reported that approximately 700,000 individuals are falling victims to identity theft each year. Reducing the Risk of Fraud 1
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information such as a person’s driver’s license or social security number, he can commit numerous crimes such as, o Opening new bank accounts and writing bad checks. o Establish new credit card accounts and not paying the bills. o Obtaining personal or car loans. o Getting cash advances. o Establishing a cellular phone or utility service and running up bills. o Changing your credit card mailing address and charging on your existing accounts. o Obtaining employment. o Renting an apartment, then avoiding the rent payments and getting evicted ( www.visausa.com ). Visa went on to list some common ways in which identity theft can occur such as, o Dumpster Diving – Crooks seek out and steal from unlocked mailboxes to obtain pre-approved credit card offers, bank statements, tax forms and credit card payment envelopes. o
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