Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

1/17/2008
12:43 PM
George V. Hulme
George V. Hulme
Commentary
50%
50%

Identity Theft Is A Drag For Everyone

There's yet more evidence that privacy and security concerns, when it comes to online shopping, are on the rise. This time it's from a phone survey, released today, conducted by the University of Southern California's Center for the Digital Future.

There's yet more evidence that privacy and security concerns, when it comes to online shopping, are on the rise. This time it's from a phone survey, released today, conducted by the University of Southern California's Center for the Digital Future.The study found that the level of concern about credit card information increased to 57%. That figure isn't so surprising. What is surprising is the fact that, as of last year, only two-thirds of adult Internet users choose to buy anything online.

That means more than 33% of all adult Internet users have decided to completely ignore the Internet retail channel. And it's this group of people, the study finds, that are most worried about security and privacy when it comes to making online purchases.

Perhaps, despite the fact that online retailing continues to grow, the poor job online merchants have done securing their Web sites has actually curbed the growth of e-commerce. That would mean that investing in security, and conveying this fact to online shoppers, could actually be a revenue generator.

And while many businesses mistakenly believe that identity theft and credit card fraud is primarily a problem for consumers -- or a problem external to them -- it's not. Identity theft costs businesses and society significantly.

On its Web site, the Identity Theft Resource Center cites reports that the theft or loss of just one notebook, presumably holding customer information, can cost a business more than $90,000 in fines, consumer credit monitoring, PR crisis management, and fighting lawsuits that can follow a breach. An unnamed 2005 study pegged the mutual cost to consumers and businesses for identity theft at $56.6 billion.

As of last year, the FBI had at least 1,500 open identity theft investigation. The U.S. Post Office made 2,277 identity theft related arrests in 2005. More than 125 million records were reported compromised in this country, just last year, the center says.

Clearly, more needs to be done, as identity theft is destroying the financial lives of too many, costing society too much in terms of spent taxes, a huge burden for corporate victims (whether or not their breaches are through negligence or not), and possibly even curbing the growth of e-commerce.

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 7/13/2020
Omdia Research Launches Page on Dark Reading
Tim Wilson, Editor in Chief, Dark Reading 7/9/2020
Russian Cyber Gang 'Cosmic Lynx' Focuses on Email Fraud
Kelly Sheridan, Staff Editor, Dark Reading,  7/7/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Special Report: Computing's New Normal, a Dark Reading Perspective
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
The Threat from the Internetand What Your Organization Can Do About It
The Threat from the Internetand What Your Organization Can Do About It
This report describes some of the latest attacks and threats emanating from the Internet, as well as advice and tips on how your organization can mitigate those threats before they affect your business. Download it today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-10987
PUBLISHED: 2020-07-13
The goform/setUsbUnload endpoint of Tenda AC15 AC1900 version 15.03.05.19 allows remote attackers to execute arbitrary system commands via the deviceName POST parameter.
CVE-2020-10988
PUBLISHED: 2020-07-13
A hard-coded telnet credential in the tenda_login binary of Tenda AC15 AC1900 version 15.03.05.19 allows unauthenticated remote attackers to start a telnetd service on the device.
CVE-2020-10989
PUBLISHED: 2020-07-13
An XSS issue in the /goform/WifiBasicSet endpoint of Tenda AC15 AC1900 version 15.03.05.19 allows remote attackers to execute malicious payloads via the WifiName POST parameter.
CVE-2020-10986
PUBLISHED: 2020-07-13
A CSRF issue in the /goform/SysToolReboot endpoint of Tenda AC15 AC1900 version 15.03.05.19 allows remote attackers to reboot the device and cause denial of service via a payload hosted by an attacker-controlled web page.
CVE-2019-19338
PUBLISHED: 2020-07-13
A flaw was found in the fix for CVE-2019-11135, in the Linux upstream kernel versions before 5.5 where, the way Intel CPUs handle speculative execution of instructions when a TSX Asynchronous Abort (TAA) error occurs. When a guest is running on a host CPU affected by the TAA flaw (TAA_NO=0), but is ...