Understanding Identity Theft and Fraud

Abstract

Identity theft and identity fraud represent the fastest-growing forms of computer crime, having significant consequences for individuals, corporations, and financial institutions. The advancement of science and technology has endangered personal security and created opportunities for criminals to easily and deceitfully obtain financial benefits or jeopardize the security of corporations and major financial institutions. As a relatively new form of computer crime, identity theft has necessitated the alignment of criminal legislation with the emerging situation. The goal of this paper is to clarify the terminological ambiguities present in this field and highlight the current relevance of the issues related to identity theft and fraud associated with identity theft. By reviewing relevant scientific literature and applying quantitative and qualitative content analysis, comparative analysis, and comparative and historical methods, we will emphasize the importance of clear and precise definitions of identity theft and its legal incrimination. We will point out the different forms of identity theft, the most common ways it occurs, the consequences it causes, and the possibilities for prevention. Research results have shown that identity theft is expanding and that there is a need for harmonizing joint measures at an international level. Also, based on the obtained results, we can conclude that it is necessary to undertake educational measures for vulnerable categories of the population to minimize the consequences of this form of crime. Practical implications of this research indicate the need for developing a greater number of studies in this field, with particular focus on specific forms of identity theft and identity fraud.