Fraud Case

Identity Fraud

Name:

Institution:

Introduction

Numerous individuals do not believe that it is easy for other people that have criminal intent to access their personal data as well as other information devoid of physically breaking into their residences and also in other amenities. Technology plays a crucial responsibility in providing an option for such criminals to prevail. For example, in open and public areas, some of the criminals might take part in shoulder surfing hence allowing them to observe other people without their knowledge. Such an action can take place as an individual is punching in telephone keys, credit or debit card number and also eves dropping on other people without their knowledge especially when somebody is giving personal details in hotels and other places that need identification. Identity fraudsters may even pose as a business consultant, representatives from different companies in order to gain access to other people's identity. Therefore, this paper seeks to give a comprehensive analysis of identity fraud and its potential mitigation measures.

Background

Identity fraud entails a situation where various people utilize the distinctiveness of other individuals in order to gain financial favours. This can be done in diverse ways, for example, some people have the capability of taking over other individual's accounts or as well as opening up new accounts using other peoples credentials. Presently, U K has the fastest growing rate in identity fraud, which is costing the country approximately £1.3 billion yearly. Identity fraud has also proven to be one of the most complicated frauds to fight in the U K. This is because; it is hard to know that one is having a problem with identity fraud because it may take at most fourteen months to make a single discovery (Allison, Schuck & Lersch, 2005).

Problem

According to Allison, Schuck & Lersch (2005), the increase in technical supremacy has also brought about heightened levels of insecurity. Identity fraud is rising into endemic proportions thus people are losing valuable and personal information, time money as well as time. This issue is really affecting people because they are losing credibility in credit cards and debit cards which are very essential in people's survival.

Solution

These are numerous extremely efficient fraud prevention solutions as well as innovations that are grounded on Radio Frequency Identification (RFID) technology. RFID is a well recognized high recital electronic detection technology that is related to the already conventional chip cards. However, unlike the chip card, RFID reading as well as writing processes utilize wireless electromagnetic fields, and does not require any contact. Information gets recorded to an electronic data gadget carrier that has the capability of being processed or read with write/read appliances. Therefore,