Identity theft in general is a branch of many identity related crimes but often perceived as the only one identity related crime. With the rapid increase in information technology in every field at work, the increase in identity theft/frauds is also regarded as one of the fastest growing crimes in the world. It affects all the sectors of business regardless of it being government private or individual, last year the UK government spent at least 2 billion Euros to prevent this crime. Usually identity crimes fall into three main categories such as identity theft, creating a false identity and committing identity fraud. After looking at the statistics of growing identity crime, the government included new legislation to protect the rights of people Acts such as Criminal justice Act 2003, Identity Cards Act 2006, National Identity Scheme, Fraud Act 2006 were introduced in order to prevent this growing crime. Identity crimes have evolved far beyond the crime of opportunity by petty thieves and drug users - it is now a preferred criminal activity that is big business and growing every year. Criminals ranging from street gangs to drug cartel to organized crime syndicates have actively embraced identity theft and cyber-crime as key money making enterprises with low risk. In 2008 alone, street gangs reportedly contributed to a 31% increase in identity theft complaints, in the state of California. In the next few pages, we will also discuss information security and how Information security plays an important role in protecting the assets of an organization. There is no 100% surety of security, therefore; we will see certain steps and benchmarks that should be set up by an organization in order to give the best standards of security.
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