What is Encryption?
Encryption is a means of electronic security that involves
methodologies facilitated in order to provide the protection of digital and
virtual information systems, which are considered to be classified, private,
personal, or restricted to viewing on the part of authorized individuals. Electronic
trespassing measures undertaken in order to achieve the unlawful entry into –
or access of – personal computer terminals belonging to
victims of cyber-crime, may include the illicit and unlawful access of
informational databases and digital record systems.
The necessity to protect vital – and oftentimes privileged –
information has been observable throughout the annals of history; historians
have discovered coding and masking techniques with regard to clandestine
communication employed for hundreds of years. Modern Encryption techniques have
adapted to the growing need of privacy, safety, and protection resulting from a
respective ability to access information as per the technological advances of
the Digital age.
A cipher is mathematical equation that
correlates to the decoding process of a message or text that has been encrypted
A code provides a replacement for a text or
message, while a cipher is an encryption methodology that must be deciphered in
order to reveal the message or text in question
Cryptology is the scientific field specializing in the
development, advancement, and synthesis of the Encryption process The
Department of Digital Rights Management (DRM) is considered to be at the
forefront of the creation, regulation, authentication, and development of a
majority of the Encryption facilitated by the Federal Government.
Why is Encryption
Due to the fact that the criminal activity known as
‘Hacking’ is conducted with the intent to commit a crime, Encryption provides
for the protection and safety of digital information. Due to technological
innovation, electronic identity theft is considered
by many to be one of the most recently-developed crimes, credited – in part –
to the ongoing advent of computer-based technology. This type of technology
relies heavily on the Internet and online activity, and as a result,
regulations and oversight of this type of activity has been expressed in the
spectrum of preventative measures involving the cessation of electronic
Computer Fraud and Identity Theft
Computer fraud is a
type of theft involving the criminal act of electronically obtaining the
personal – or private – information belonging to another individual or entity
through the use of technological – albeit illegal, unlawful, unethical, or
fraudulent – means. Within the realm of computer fraud, the criminal act of electronic
identity theft is defined as the act of illegally assuming the
identity of another human being without their consent with the intent of
committing fraud, theft, exploitative acts, and harm.
receipt of economic gain at the expense of victims of identity fraud takes
place through the deliberate misrepresentation of personal information or private
data; in many cases, this type of electronic data is attained through the
electronic infiltration with regard to computer systems containing electronic
How to Prevent
Electronic Identity Theft
Companies providing methods of Identity theft prevention –
including Lifelock, which is one of the most widely-acclaimed and recognized –
have employed protective measures ranging from securing online perimeters to
communicative transmission inquiring about the validity of unsubstantiated
activity; these types of companies have found their respective niche within the
prevention of identity fraud upon providing protection in lieu of infringing on
What should I know about Identity Theft?
·Identity theft is a form of cheating or fraud of another person’s identity where someone pretends to be someone else by usurping that person’s identity. When someone else’s form of identity is stolen, the fraudulent party then assumes access to the victim’s resources, benefits, and financial information. As a result, the victim of identity theft will suffer adverse consequences as they are responsible for holding accountability of the perpetrator’s actions.
When you realize your identity has been stolen contact an identity theft lawyer to acquire legal advice and assistance.
·There are numerous forms of identity theft, but in all cases, the victimized party is exposed to the actions of the aggressor’s illegal obtainment of the individual’s financial and personal information.
Identity Theft Statistics
·In the United States, as many as 12 million Americans are victims of identity theft per year.
·40-50% of identity theft victims are made aware of identity theft within 3 months of the illegal action. 10-20% of the victims; however, take 4 years or longer to discover the illegal infiltration of their personal and financial information.
·Victims of identity theft spend from 3 to 5,840 hours repairing damages realized through identity theft. This wide range is due to the varying levels of severity present in the crime—a lost credit card, for example, will require less time repairing than a compromised social security number. The total average of time spent repairing the damages realized through identity theft is approximately 330 hours.
·26-32% of victims will spend a period of 4 to 6 months dealing with their particular case, while 11-23% of victims will take over 7 months to repair and resolve the consequences of their particular case.
·Nearly $250 billion a year is lost by businesses who are victims of identity theft. On average, a victim of identity theft will lose between $2,000 and $14,000; victims will subsequently spend an average of $851 to $1,400 in expenses related to their case.
Aftereffects of Identity Theft
·50% of identity theft victims experience trouble getting loans or credit cards as a result of identity theft.
·20% of victims will experience higher credit card rates, while 16% of identity theft victims have higher insurances rates because of the theft.
·72% of identity theft victims will have trouble resolving or terminating the negative information left on their credit reports or other information left on their personal records.
What Information is used by the Fraudulent Party?
·Nearly one third of identity theft cases revolve around checking account fraud.
·2/3 of victim’s personal information is used to open new checking or credit accounts.
·30% of victim’s personal information is used to purchase a cell phone service.
·12% of identity theft victims end up having warrants issued in their name for financial crimes committed by the identity thief.
Steps taken to Prevent Identity Theft
As technology continues to improve, numerous companies (such as LifeLock) continue to develop cutting-edge techniques and programs to offer identity protection means to the average consumer or business. Various security requirements, encryptions and anti-piracy software produced by such companies as LifeLock are used to secure personal and banking information and impede identity thieves from conducting fraudulent activity.
What is Identity Theft Insurance?
Identity theft insurance is a relatively new policy that focuses on helping a victim recover the financial losses or compromised information resulting from an identity theft situation.
Identity theft insurance is offered by identity protection resources or companies, such as Lifelock to expedite and insure the recovery process. Typically, identity theft insurance is combined with other identity theft resources, such as credit monitoring. Identity theft insurance is designed to relieve and subsequently resolve residual charges or various debts that occurred as a result of the identity theft.
Similar to a basic insurance policy, an individual must satisfy a premium for the obtainment of identity theft insurance. Additionally, identity theft insurance will be attached with specialized coverage options that will provide specific insurance and forms of relief to protect against the various forms of identity theft and the information or assets tied into the theft. For example, some identity theft insurance policies will pay out a claim if the information or funds stolen were committed by a relative, while other agencies or policy providers will not.
The majority of credit card companies will offer an individual a form of identity theft insurance. These policies will vary based on the amount of coverage offered and the stipulations for what defines an act of identity theft. Regardless of the policy; however, it is strong recommended that all users of credit cards understand their insurance options and review the stipulations which mandate the regulations surrounding the policy. You can also contact an identity theft lawyer consult your case.
The basic identity theft insurance policy will provide direct loss protection for the theft of credit cards, debit cards and all other mechanisms for transaction. Additionally, some identity theft insurance policies will protect against losses or fraudulent maneuvers taken-out on safety-deposit boxes.
Identity theft insurance, when purchased, will provide protection for those who are damaged from the illegal action. That being said, the types of coverage and the specifics that go into each policy will vary based on company. As a result of this variance, it is essential to review the policy (the premium attached, the type of coverage offered, and the specific types of assets or information that is covered) before purchasing an identity theft insurance policy.