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Online Crime And Identity Theft Surpass Drug Racket

A committee at the Authentication and Online Trust Summit concluded that Intellect, dedicated people and a conducive atmosphere were the finest instruments for formulating a cybercrime and identity theft prevention plan, reported Dmnews in its April 20, 2007 issue.

Being one of the most rapidly evolving crimes in USA, it's now expected to overtake the drug traffic. Identity fraud, which several persons weren't aware of half a decade ago, has become a routine affair nowadays.

During a conference named "Online Crime and Identity Theft: Following the Bits and Bytes," security industry specialists addressed the anxieties surrounding cyber-crime and safety measures. The trick is to recognize the persons implicated in phishing attack using junk e-mails, botnets, and malevolent programs.

"The hackers group has developed several methods to hack online banking process. It's not easy to find a method of solving all your troubles," stated Peter Cassidy, APWG's secretary general, in a report on April 19, 2007 in Vnunet.

The five most well-known identity thefts are: driving license, Social Security Number, criminal, medical, and fiscal. Identity theft involves stealing of personal identity details and it happens in several ways. Due to growing dependence on online methods to carry out financial dealings and data storage, identity details becomes easily available to hackers.

"Similar to conventional organized crime, different persons in a spam network have distinct abilities and publicizes both their merchandise and facilities," alleged Daniel Larkin, FBI's head of the cyber division. "The risk is not for a particular sector, the cybercriminals are not aiming any specific industry. Money is the most important factor," as reported in Dmnews on April 20, 2007.

The money comes from marketing stuff like unlawful music downloads and pirated software.

The structure of a phishing scam contains different grades of organization comprising a cyber-terrorist, a spammer, a data dealer, documents and product, a re-shipper/teller and a money launderer. Underworld gang mainly operates from Eastern Europe, Russia, while others operate from West Africa and the USA.

Organization should even reiterate anything that helps to prevent these frauds and educate employees and clients persistently on methods of preventing online theft.

Related article: Online Card Fraud Shows Greater Tendency Than Chip and Pin

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