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The Resource Center Online Security Issues & Protection | article

The realities of cybercrime and how to identify theft when it happens

You may think that you are doing everything you can to identify theft when it seems to be rearing its head while you are using the internet. However, if the rates of cybercrime over the past decade are any indication, ID theft prevention is only getting harder and harder every year, as the incidence of the crime seems to be consistently on the rise.

Here are a few stats that highlight the realities of cybercrime and the challenges individuals the world over face in being able to identify theft:

  • According to Project America, a research group that studies internet security, in 2001, internet fraud cost citizens less than $25 million dollars. By 2007, that figure ballooned to almost $250 million, indicating that thieves were getting more sophisticated while safeguards were getting less effective.
  • Data from Business Week shows that roughly 23 percent of all cybercrime takes place in the rest of the world. The next closest nation to suffer from this injustice at such a high frequency was China, at 9 percent, while almost all of the rest of the major developed countries of the world, including Britain and Canada, make up for less than 5 percent.
  • By 2017, it is projected that the Cyber Security market is expected to skyrocket to $120.1 billion from the $63.7 billion spent in 2011.

ID theft prevention is a major issue that seems to just be getting harder and harder to tackle. However, if you act wisely online and look into the best identity theft prevention services, it will be easier for you to identify theft before you have to deal with the consequences.