Conclusion

In understanding the scope of the identity theft crisis facing society today, we understand that it arises out of our need to be connected to the Internet. Side by side, trends in Internet popularity match trends in rising numbers of identity theft instances. This is due to the huge availability of consumer information stored in online databases and the relatively easy access others have to that information.

Despite considerable legislation enacted to protect consumers, the laws of supply and demand are now demanding a new channel of commerce, a virtual market. With the rising usage of e-commerce will rise the number of victims falling to internet fraud.

At a congressional hearing in September 2000, an FTC official testified, "The Internet has dramatically altered the potential occurrence and impact of identity theft. First, the Internet provides access to identifying information through both illicit and legal means. The global publication of identifying details that previously were available only to a select few increases the potential for misuse of that information. Second, the ability of the identity thief to purchase goods and services from innumerable e-merchants expands the potential harm to the victim through numerous purchases. The explosion of financial services offered on-line, such as mortgages, credit cards, bank accounts and loans, provides a sense of anonymity to those potential identity thieves who would not risk committing identity theft in a face-to-face transaction." (US Banking 2000)