Everyone who ventures online in any capacity is opening themselves up to the risk of identity theft. But how much is that identity you hold so dear worth to cyber criminals? About $120. Yes, that’s all.

Identity theft is a crime that’s on the rise every year. It mainly takes place on the Internet but can also be committed at cash machines, in shops, and anywhere else you give personal details about yourself to someone you don’t know.

Criminals can make money from selling various different pieces of information about you, from your name, address, and date of birth, to passport numbers and credit card details. But, according to the BBC, the price obtained for a full set of personal details including full details of how to access your finances is only around £80 ($120).

This figure was discovered by the Get Safe Online group, a consumer organization dedicated to educating people as to how to take better care of themselves on the Internet. That $120 purchase can then net the criminal buyers up to £15,000 ($20,000). No wonder the crime is becoming more popular by the day.

Get Safe Online also surveyed 1,400 adults in the UK with access to the Internet. The study found that six out of 10 people now manage their finances online, but that some aren’t exactly au fait with the security measures they should be taking.

One in five people use the same password for every Web site they access, while half those questioned regularly fail to update their anti-virus software. Almost a quarter don’t have any anti-spyware protection software. Which considering the multitude of malware present on the Internet, and the variety of free software available to combat it, is a big worry.

Tony Neate of Get Safe Online said:

Online criminal activity can be a sophisticated business, but each of us can take steps to prevent ourselves from becoming a victim.

If Internet users invest a relatively small amount of time and money in ensuring they are fully protected and up-to-date, the risk of such financial loss is almost negligible.

Phishing attacks are the most common method of identity theft attack, with users often clicking on bogus emails purporting to be from a bank or credit card company. One-hundred-thousand consumers are affected by identity theft in the UK alone every year, so I imagine the worldwide total is astronomical.

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Entry was posted on Monday, November 17th, 2008 at 6:55 pm under Crime, Internet, Opinion, Technology.

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