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Impacts of identity theft
Negative impacts of identity theft
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The average consumer never thinks twice about using a credit card, when purchasing at a major chain department store. Most point of sales and credit card terminals, are made by a choice few companies. As a result this means that a hacker only needs to know how to exploit vulnerabilities from a small handful of systems. When a consumer makes a purchase they never wonder “is my transaction safe?” Never do they wonder if the company’s Information Technology department has upgraded all computer systems to the latest revision and updates. As a general rule the average consumer is unaware of what a ram scraper is, or if the company’s security has been breached until it is too late. That’s what happened for over 18 months to TJX Companies starting in July 2005.
TJX Companies is one of the largest global apparel and home fashions department store chain. For instance the stores owned by TJX Companies consist of T.J. Maxx, HomeGoods, Marshalls, AJWright, and The Maxx, which are located throughout the United States, Canada, and Europe. The sheer volume of transactions processed thru TJX Companies, made this breach so historic, since over 45.7 million card numbers were siphoned out of TJX Companies network and sold in the underground internet black market (Staff, 2007), usually called “data supermarkets”. In these data supermarkets credit card numbers can sell for as little as cents to as much as $10 to $20 per card number depending on quantity or source. Hackers have a complicated underground network for disseminating out this credit card data as quickly as possible, since the longer it takes for the bad guys to actually use the data the higher the chance the loss of the data would be discovered. Unfortunately the data breach at TJX Com...
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One day, while Bruno is preparing for a difficult stunt, he gets into an argument with the director and refuses to perform any stunts at all. Can X entertainment seek specific performance of the contract? Why or why not? p.216
The Minneapolis based Target Corporation announced in December that criminals forced their way into the company’s computer system. The data breach compromised 40 million credit and debit card accounts of customers who shopped during the holiday season between November 27 and December 15, 2013. The data captured was far broader than originally imagined as hackers gained access to 70 million customer’s personal information including names, home addresses, telephone numbers, and email addresses. Additionally, expiration dates, debit-card PIN numbers, and the embedded code on the magnetic strip of the card were stolen.
Hacking into large companies or agencies to steal one’s card information has become simple. Lewis (2013) says that, “Hacking is incredibly easy; survey data consistently shows that 80 to 90 percent of successful breaches of corporate networks required only the most basic techniques“(p. 1). On November 27, 2013, Target’s security was breeched when forty million credit and debit cards were stolen. The breach lasted from November 27 to December 15, 2013.
More along those lines, the attackers were successful in loading the card stealing malicious software to cash registers in the Target store...
Web. The Web. The Web. 15.Nov.2013 United States Government. National Security Agency.
Identity theft has been a major issue of privacy and fraud. In the data breach analysis from the Identity Theft Resource Center (2013), the number of data breaches from the year 2005 to 2012 increased. In 2012, there had been 49% where the data breach exposed people Social Security Number. The data breach of 2012 has a rate of 27.4% caused by hackers. These breaches were commonly from 36.4% businesses and 34.7% health and medical (Identity Theft Resource Center 2013). The number of identity theft varies from physical possession to digital possession. At least one-fifth of trash cans contains papers listing people’s credit card number and personal information. People that throw away their trash mails contain much personal information that is useful to steal someone's identity (Davis, 2002). Technology becomes a need where people use it daily and as a result it has also become a use for identity theft as well. Throughout the years as technology develops so does identity theft. This paper shows the types, methods and technique used for identity theft, and it also examines possible risk of identity theft from current technology.
Nowadays, hacking systems which get the data from payment card in retail stores is a popular issue. The use of stolen third-party vendor credentials and RAM scraping malwares were the main reasons for the data breach. A brief introduction of when and how the Home Depot’s data breach took place and how the home depot reacted to the issue and rectified it by
In December 2013, Target was attacked by a cyber-attack due to a data breach. Target is a widely known retailer that has millions of consumers flocking every day to the retailer to partake in the stores wonders. The Target Data Breach is now known as the largest data breach/attack surpassing the TJX data breach in 2007. “The second-biggest attack struck TJX Companies, the parent company of TJMaxx and Marshall’s, which said in 2007 that about 45 million credit cards and debit cards had been compromised.” (Timberg, Yang, & Tsukayama, 2013) The data breach occurred to Target was a strong swift kick to the guts to not only the retailer/corporation, but to employees and consumers. The December 2013 data breach, exposed Target in a way that many would not expect to see and happen to any major retailer/corporation.
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"The Cost of ID Theft, Part 1: Beyond Dollars and Cents." Commerce Times: Business Means Business. N.p., n.d. Web. 18 Nov. 2013.
Hettinger, Mike, and Scott Bousum. "Cybersecurity." TechAmerica Cybersecurity Comments. N.p., n.d. Web. 11 Mar. 2014. .
The ability to conduct warfare through technological methods has increased information security awareness and the need to protect an entities infrastructure. Subsequently, cyber warfare produces increased risk to security practitioners that employ technology and other methods to mitigate risks to information and the various systems that hold or transmit data. A significant risk to information lies in the conduct of electronic commerce, hereinafter called e-commerce. E-commerce is the purchasing or selling of goods and/or services through the internet or other electronic means (Liu, Chen, Huang, & Yang, 2013). In this article, the researcher will discuss cyber warfare risks, present an evaluation on established security measures, identify potential victims of identity theft, and present an examina...
III. Thesis Statement: Identity Theft is rapidly becoming a national issue because anyone of us could be a victim of identity theft. How we protect our self, keep our information private, identify any signs of identity theft, and report and repair our credit is up to each one of us. We have to be vigilant about our protecting ourselves from criminals.
Web. The Web. The Web. 25 Jan. 2014. Dyke, Van, and Albrecht W. "Identity Theft.
Thomas, Teka. "Cyber defense: Who 's in charge?" National Defense July 2015: 21+. War and Terrorism Collection. Web. 28 Oct.