IDENTITY THEFT IN CYBERSPACE

Cybercrime is one of the most pressing issues the world is facing right now. And it will be one of the greatest risks over the next decade, outpacing the likes of terrorism, political conflict and degradation of environment. Cybercrime includes unauthorized access of information and breach of security like privacy, password, and other personal information of any person with the use of internet. Identity theft is a part of cybercrime that involves committing theft via computers or internet. Identity theft is important in today’s world because of the increasing importance of identity-related knowledge in e-government, the economy, and socialization. Any internet user’s identity can be stolen in seconds, and the user may be unaware of it. There are various tools available in the internet which allows anyone to steal data of any particular user, if he/she is connected to internet. It is not necessary for the hacker to have extensive knowledge of internet technology or how networking functions. For most people who use the internet, identity theft is a big concern.

Cybercrime is defined as “offences committed against individuals or groups of individuals with a criminal motive to deliberately damage the victim’s reputation or cause physical or mental harm, or loss, to the victim directly or indirectly, using modern telecommunication networks such as the Internet (chat rooms, emails, notice boards, and groups) and mobile phones (SMS/MMS).” It is a modern-day crime involving criminal activities in cyberspace, in which any electronic communication device, database, or the internet is used as a weapon, target, or both. Cyberspace is a virtual environment where people interact through a computer network. As a result, it is a space that has no geographical boundaries and is open to everyone, anywhere in the world that has internet access.

Cybercrime is on the rise in modern times, as people become more dependent on computers, the internet, and related technologies, as well as the digitalization of different services, and it is rapidly becoming a threat that must be tackled. The internet has certainly many advantages, but it has also made the committing of such cyber crimes simpler. Identity theft in cyberspace is one such crime. Identity theft is a type of cybercrime in which a person’s identity is stolen in order to obtain illegal monetary benefit or deceive others, and in some instances, it may put the victim’s personal safety at risk. Identity theft that happens over the internet is referred to as online identity theft or identity theft in cyberspace. The name of the crime is a little misleading because when something is stolen, the victim is dispossessed, whereas when a person’s identity is stolen, the victim is not dispossessed. The identity of a person, whether alive or dead, refers to and includes their private info, such as their name, date of birth, e-mail address, bank details, IT returns, medical insurance details, and other accounts. Identity theft is a term used to describe a variety of crimes in which someone illegally obtains and uses another person’s personal information in any way that includes deception or fraud, usually for financial gain. Hacking accounts, phishing, spear phishing, denial of service, distributed denial of service, data theft, spyware installation, cookies, e-mail/SMS spoofing are just a few of the ways this crime is committed, and new ways are emerging every day. In the years 2014, 2015, 2016, and 2017, India reported 9622, 1192, 12317, and 21796 cybercrimes respectively, according to the National Crime Record Bureau. And there were 27248 cybercrimes reported in 2018, with 55.2 percent (15,051 out of 27248) being for the purpose of fraud. And in year 2019 there were 650,523 complaints of identity theft and the numbers increased it was more than 1 million in the year 2020. (Data as per Federal Trade Commission, Consumer Sentinel Network)

This trend shows that a change is imminent and preventive measure must be taken to curb this millennial crime and facilitate India’s growth into a trillion-dollar economy. One way to accomplish this is to educate the general public about the risks involved with using the internet and the importance of using standard protective measures such as using a safe WIFI network, firewall, and not sharing passwords, which are all commonly ignored.

Identity theft has become a major crime all over the world, posing a threat to both individuals and businesses. Thieves, fraudsters, and criminals use identity theft in a way to extract private information from people and make huge amount of money from them. As a result, it is vital to increase people’s awareness of how to protect themselves in online networks through education. In terms of public education costs, it is important to note that governments and other large businesses should view these costs as investments rather than expenses in order to create a safe society.

Banks, financial institutions, and retail stores, for example, are more vulnerable than most small companies or firms because they collect people’s personal information in their databases. As a result, these organisations must have sufficient strategies, policies, and actions in place to defend themselves from mass identity theft. Security awareness, education, technical control, and an effective information management strategy should all be part of a successful defensive system. Identity theft by insiders is a major concern for organisations, according to various reports. Thus, organisations should consider implementing a strict and reliable internal control to prevent identity theft. Organizations should inform workers about the most common type of attack, social engineering, and its consequences. Managers should also be conscious that poor performance and negligence for the effects of future attacks not only results in substantial financial losses, but also harms the company’s reputation. Individuals and organisations must agree that they are vulnerable to identity theft; as a result, implementing the most efficient security system should be linked to developing the understanding of potential threats, since “Awareness is the best defence.”