With technology improving and evolving everyday, identity theft has been on the rise. Most at risk are the millennials, the people who are 18-24 years old. Most of the people in this age range are students, who are away from home for the first time, and just starting to learn how to live independently. They have not yet learned that you need to check your bank statements to ensure that there are no fraudulent charges. These people are ones that have grown up with technology their entire life. They are always warned of the dangers of the internet, yet most have no experienced them. Shopping on the internet to them is just as regular as going to the mall and shopping, they forget that internet makes it easier for people to steal credit card numbers. In their minds, they are thinking “it's never going to happen to me”. Using a credit or debit card to them is more second nature than using cash, so most don't even think twice when they go somewhere and pull out a credit card. Yet technology has evolved so much that someone can withdraw money from a bank account without even having the bank card.
As student who is in the age range, it makes me realize how much I don't know about identity theft. Yes, I know it is possible, especially with the use of the internet, but I am one of those “it will never happen to me” type of people. I should know better since neither one of my parents is comfortable using their credit card over the internet. Yet to me the ease and availability over powers the “what if my card number gets stolen?” We are always warned of the dangers of the internet, especially as young children. But as we get older, we forget about the dangers of the internet, since it has become second nature for us to go online everyday, multiple times a day. I think it would be wise for schools, either high schools or colleges, to go over the dangers of identity theft and ways that it can be prevented, specifically on the internet.
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/16/AR2010031604209.html
This article reminded me of what we talked about in class today with the new credit cards. I have never heard of them, but apparently there are new credit cards with safecards(?) in them that allows the credit card to be swiped with out taking the number down. This seems like a great idea to me because with the increase of technology people have greater ability to commit identity theft. At the same time, IT can be used to stop identity theft. I agree with you that with greater awareness to the public, less people will be victims of identity theft and have a greater awareness how to protect themselves.
ReplyDeleteWhen I first got my debit card, I only used it to get money out of my account and to put money into my account. Eventually, I started using it when I went out to dinner and forgot to bring cash or when I went to the mall and I did have enough cash for my purchase. It was a big step for me, but I also think in the back of my head " it won't happen to me". I don't order from places online that I have never heard of but I do purchase items at stores that aren't chains or aren't well known. I have learned to check my bank statements to see how much money I have left in my account and to see where I spent it. I think the idea of a safe card id that goes with a credit card should increasingly be used and eventually become widespread because it is safer and identity theft will decrease. My mother and my aunt have been victims of identity theft and it was a long process to try to fix what happened. My mom’s identity was stolen because there was a virus on her computer and she purchased something online. Fortunately the credit card company realized and contacted her. My aunt was at the grocery store and the cashier pretending to drop her credit card and then took a picture of it while it was on the floor. I think the Safe card id while help people of all ages with identity theft because it is hard to known where and when your identity can be stolen.
ReplyDeleteI agree that safecards are a great idea but this solution doesn't solve the issue of identity theft through the internet. I, myself, have been a victim of identity theft. I shop online a lot and always would rather use my card rather than cash to avoid ending up with change. Last summer, Somehow someone obtained the numbers to my debit card from one of my online purchases and bought a $5,000 computer program on my card. My bank immediately alerted me, but it took me 3 months to get the $5,000 back and involved 6 long visits to my banks branch. I have learned my lesson and I'm very careful where I give out my information on the internet.
ReplyDeleteI also think that safeguards are a good way to help solve the credit theft problem. Like jessica, i shop online all the time and never really think too much about whether my information could be stolen or not. My dad has an online retailing website. I used to work for him and still do sometimes. When i work its my job to run credit cards through a system to charge them. The credit information is mostly locked but i can see some of the information when i charge the card. Its wierd to know that there are other people like me who can see my information when i shop online.
ReplyDeleteIt's unfortunate that along with improving technology comes advanced ways for people to steal other peoples' idenities. I do much of my shopping online, but I still think more than twice about where I'm shopping and who/what company will have hold of my credit card number. If something called a safecard does exist, it would make many people feel better online shopping and shopping in general. Hopefully there will be something that can completely stop identity theft because it has been an increasingly bigger problem over the years.
ReplyDeleteThis new tech-savvy generation and continuous advancements in information technology, Identity theft has caused much stress and anxiety on many Americans. According to the Federal Trade Commission states, “identity theft is the largest consumer complaint and the fastest growing crime in America…affecting 9.91million people a year.” With an increasing trend in identity theft, I believe that the solution to limiting these outbreaks goes beyond the victim’s control. As we have mentioned in class, the Internet has enabled people’s information become free and endless, pending no boundaries. I believe that organizations, private companies, and even retail outlets, do not take enough precautionary steps in protecting their customers information. Most of the information on the Internet, and accessible to outsiders, is personal information given to these companies, organizations and retail outlets that are either sold to other companies for momentary purposes, or stolen by identity thief’s due to faulty/non-updated protection software. Responsibility for identity theft should be distributed both ways, albeit, known flaws in ones system is disrespectful and unacceptable.
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