Monday, August 1, 2011

Identity Theft: The Latest Groing Cyber Threat - - Doubled in Last 4 Years

Latest Cyber Threat: Identity Theft Doubled in 4 Year to 10%
A recent survey revealing online identity fraud has doubled in 4 years to 10%, demonstrates the need for people to fast track their education on the ways they can be swindled, and what the effects can be should they become victims of identity theft, a national credit repairer says.

Director of MyCRA Credit Repairs, Graham Doessel says there is a host of information for internet users about how to stay safe online, but many people don’t learn about identity theft until they or someone they know becomes a victim.

“Often it is not understood how easy it is for criminals to steal peoples’ personal information or bank details online, and then use that information to take out credit in the victim’s name,” Mr Doessel says.

The survey, conducted by Galaxy Research and released by VeriSign Authentification Services showed how 10% of the 2510 Australians surveyed have lost money to online fraud in the past year, with those losses reported to total $1.286 billion.

This figure appears to have doubled from Australian Bureau of Statistics data which surveyed over 16,000 Australians for its Personal Fraud Survey in 2007.

The data showed 5% of Australians or 800,000 people had been the victim of personal fraud. These figures were across the board, including but not exclusive to internet use.

Mr Doessel attributes the increase in identity fraud to a growth in general use of the internet, with more people socialising, banking and conducting shopping and business online than ever.

“With the increase in internet use is the potential for criminals to mastermind a profit from that use. What is not known from the recent figures is how many of those identity fraud victims have had the crime impact their credit rating. Certainly more of our credit repair clients than ever are claiming to be victims of fraud,” he says.

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