Identity Theft Concerns Pose Threat to E-commerce

According to a new Center for American Progress report, not enough is being done to protect the public from fraud on the Internet. The report cautions that the convenience, choices and lower prices enjoyed by Internet users are at risk because of inadequate protection against identity theft.

The center says that high levels of fraud and abuse may cause more and more consumers to lose trust, which is a major threat to e-commerce. Malicious software, phishing and spam were the primary causes of the high levels of fraud and abuse on the Internet.
The report states that although the Federal Trade Commission (FTC) is improving its enforcement activity, it lacks the resources to make a big difference.

The Center for American Progress and the Center for Democracy and Technology asked States to provide data on the complaints they received 2006 and 2007. Thirty six States responded and most of them had a Internet related category listed in their top-ten complaints. It was also noted that overall Internet related complaints increased from 2006 to 2007. Eight of the States listed Internet related complaints in their top-three and four States listed them as being the number-one complaint.

The conclusion given by the researchers is that not very many crimes involving phishing, spyware, spam, adware and hacking were being effectively investigated or prosecuted. ?Internet crime requires almost no expense to execute, carries potentially high financial rewards, and involves relatively little risk of being caught and punished,? according to the report.

Consumers Worry About ID Theft When Shopping Online

A new report shows that identity theft is a major concern for consumers, according to MarketWatch.

?Data Security and Privacy: Best Practices for Protecting Customer Information through PCI,? a report published by the Digital Technology Alliance (DTA), shows that nearly half of the consumers polled in a Gemalto survey said they worry about identity theft when shopping online.

?Rising reports of identity theft will continue to remind consumers that they need to pay careful attention to where, when and how they use their cards,? says James Bickers, editor of RetailCustomerExperience.com, in the report.

According to the report, businesses must catch up to industry standards if they want to retain their customers? trust.

So Register at TrustedID and protect your identity and start shopping online with piece of mind:

TrustedID is recognized by the Identity Theft Resource Center, a national nonprofit organization that educates and works to prevent identity theft. For more information about TrustedID and its services and products, visit us by clicking following banner: