Student`s essay


Identity theft can happen to anyperson, anywhere in the world, and it causes many financial andcredit problems in that person`s life. Identity theft is consideredone of the most accruing crimes in the world, it is also hard todetect. However many people who suffer from these crimes, are notaware of what identity theft is, and the damages. According to Dean,Buck, and Dean (1) there are three main questions that are integralto identity theft. These three main questions pertinent to thediscussions include “What is identity theft? How does identitytheft occur? What can someone do to prevent identity theft?” Thesekinds of questions are prompted by a lot of issues as many peoplehave no idea what identity theft is (3). Owing to the questions wehave to the answers of these questions. While addressing the concernsthat surround the identity theft, the paper is premised on theargument that individuals are not knowledgeable about the identitytheft and identity theft is real.


Most people are not knowledgeableabout the issues that surround the identity theft and how it occurs.For most of the financial planners, the best they can do is to play abig role in the protection of their clients financially and theirpersonal information from getting their identity stolen becauseaccess to a person personal data can be used for identity theft.VanderPal, Geoffrey. &quotDon`t Let Clients Become Identity TheftVictims.” (1).

This year Approximately 15million United States residents have their identities usedfraudulently each year with financial losses totaling upwards of $50billion. “Douglas. Par (1)”, people have to know about the crimehow they can protect themselves because if they do not have an ideaabout it and how to protect themselves it will keep accruing. To thisend, education on the crime is essential as it helps to stop thiscrime. Wahl (1) in his journal provides the information and guide onthe things that one needs to do to reduce the risk of identity theft.One such thing that the author advocates for is being stingy aboutgiving out your personal information to others unless you have areason to trust them. Check your financial information regularly, andlook for what should be there and what should not be in existence.The author further reiterates that there is a need for a customer torequest or ask periodically for a copy of the credit report. Maintaincareful records of your banking and financial accounts. “Par (8).

Finally, in the 21st century,most of the people have their information online and its controlledthrough a third party which makes pots them at risk. According toEdwards (9), the solutions of the identity theft need to be based onthe creation of a universal online authentication center. In the end,there is need of having this center taking in almost every otherindividual and undertaking the individuals through the basictraining. The centers should have among others, numerousrequirements. First, Edwards (10) notes that the center needs toincorporate every other individual in the global stage. Further, thecenter has to be available to every other individual that need it.Additionally, it is recommended that the center should be public andit is highly discouraged that the center should contain any form ofsensitive personal data. Some of the information that is highlyencouraged to be in the center includes the mirrors of every otherperson. These include their demographic data, and this includes theirfirst name, last names, the nationality, gender, and even the date ofbirth (Edwards 4). According to the author, some of the sensitiveinformation such as the addresses, the contact details, the bankdetails and the credit and debit card numbers should never be in thedatabase.

Further, Edwards notes that forthe center to operate in the best way possible, it has to be highlyguarded as much as possible and if possible should only be accessedby the authorized individuals. It is the authorized individuals whohave the power to access the unauthorized information. Further,Edwards (7) notes that the data of the user should not be accessibleto the system administrators. To this end, the banks need to come upwith the best and secure means of enrolling users, storing their dataand eventually accessing it. This, therefore, infers that the variouslogin information including the pin codes, tokens conventionallyprovided is not accepted (9). Therefore, the system has to bedesigned in a manner that it uses the biometric details ofindividuals to differentiate among each other. Therefore, the systemdesigned has to be clear and fail-proof in its ability to connect alive, known user to the database within the required time. In regardsto the proposed solutions, an individual can thus protect themselvesand their assets from identity theft that in the end give them thepeace of mind while sharing their information to their job done.


Some authors tend to believe thatthe concept and notion of identity are just overblown. In fact, tomost of these authors, identity theft is just a marketing gimmickthat is used by most of the enterprises in their businesses. As Howal(42) notes, identity theft alludes to the use of scare tactics toensure that individuals continue buying the protection that in a realsense they do not need. Nonetheless, this is pure speculation asidentity theft is real and its effects are felt.

The question that one ask iswhether there are chances that a person may fall a victim.Nonetheless, Bilge (18) goes ahead to affirm that falling a victim ismore of self-responsibility and anyone who indeed falls a victim israther careless and not keen with their details. Falling a victimlargely depends on the amount of information that is out for theindividuals in regards to different databases, files or eveninformation available to the different institutions as well as thoseavailable on the internet. Controlling the amount that goes to theseplaces is avoidable and for most there is just need for ensuring thatone does not fall in the pit of their identity being stolen.


A few months ago my friend and Iwere traveling, and he found out an amount of money missing from hisbank account, it seems someone was using his credit card.Nonetheless, upon contacting the bank he had most of his money back.Often, this problem is common and affects many individuals and inmost cases they do not get back their money, or they are left in avulnerable position where their credit cards remain affected. I tendto think that most individuals are very ignorant when it comes toissues of identity theft and the manner in which the theft occurs. Itend to think that the financial institutions have a large role toplay in regards to protection and mitigation of identity theft. Thefinancial institutions can prevent the exposure of their customers tothe risks of their information being shared. The financialinstitutions are capable of doing this in very many different waysincluding limiting access to authorized individuals only. I have notbeen affected directly, but my friend was affected. I felt so badabout the issue, and I would not like to see other individualssuffering from the same.


There are arguments for andagainst the concept of identity thefts. Nonetheless, it is clear thatidentity theft exists, and there is a need to address the issues thatsurround identity theft. This then validates the arguments ofidentity theft. Identity theft leaves the individuals vulnerable, andthere is a need for banks and other relevant institutions to addressthe issue fully to avoid the occurrence in future. Thus, identitytheft is not a marketing gimmick by the affected institutions ratherit is a real occurrence that needs real-time solution.


Bilge,Leyla, et al. &quotAll your contacts are belong to us: automatedidentity theft attacks on social networks.&quot&nbspProceedingsof the 18th international conference on World wide web.ACM, 2009.

Dean,Passard C., Joshua Buck, and Pierce Dean. &quotIdentity theft: Asituation of worry.&quot&nbspJournalof Academic and Business Ethics&nbsp9(2014): 1.

Edwards,Chris. &quotEnding identity theft and cyber crime.&quot&nbspBiometricTechnology Today&nbsp2014.2(2014): 9-11.


Kinzie,Susan, and Ellen Nakashima. &quotCalling in pros to refine yourGoogle image.&quot&

Wahl,Philip R. &quotLook out for identity scams.&quot&nbspPhiKappa Phi Forum.Vol. 93. No. 3. Honor Society of Phi Kappa Phi, 2013.