An Approach to Managing Identity Fraud

An Approach to Managing Identity Fraud

Rodger Jamieson (The University of New South Wales, Australia), Stephen Smith (The University of New South Wales, Australia), Greg Stephens (The University of New South Wales, Australia) and Donald Winchester (The University of New South Wales, Australia)
DOI: 10.4018/978-1-60566-326-5.ch011
OnDemand PDF Download:
$37.50

Abstract

This chapter outlines components of a strategy for government and a conceptual identity fraud enterprise management framework for organizations to manage identity crime occurring via cyberspace. Identity crime, related cybercrimes and information systems security breaches are insidious motivators for governments and organizations to protect and secure their systems, databases and other assets against intrusion and loss. Managing identity crime is a critical step in cyber security and global information assurance. Strategy components and conceptual model elements are constructed through analysis and synthesis of models from academic literature, and reports by industry and government professionals. A comprehensive government strategy with a legislative component reinforces organizational policies to combat identity crimes. Model components used to develop our identity fraud organizational framework were selected from cost of identity fraud, identity risk management, identity fraud profiling, and fraud risk management literature. Our framework is organized into anticipatory, reactionary and remediation phases.
Chapter Preview
Top

Introduction

Identity crime and related crimes, cybercrime and information systems security breaches are insidious motivators for governments and organizations to protect and secure their systems, databases and other assets against intrusion and loss. The economic cost to society and more directly to enterprises provides significant impetus for a comprehensive framework for organizations to prevent and combat the growth of identity and related crimes. Table 1 shows the estimated economic impact of identity crime and related crime costs. For example, the accumulated losses caused by identity crime and related crimes, such as money laundering, terrorism, trafficking – drugs, people, weapons, illicit material, etc., globally were estimated at US$221 billion by the end of 2003 and up to US$2 trillion by the end of 2005 (Hurley & Veytsel, 2003). Approximately half of the estimated global cost could be attributed to money laundering alone (see KPMG, 2007).

Table 1.
Summary of identity crime costs (figures are in billions in stated currency)
Country (or Region)YearEconomic Impact of Identity Crime (billions)Source
Global2005US$2,000.0Hurley & Veytsel, 2003, p.1
2003US$221.0Hurley & Veytsel, 2003, p.1
United States2008US$45.3Kim 2008, p.21*
2007US$51.0Kim 2008, p.21*
2006US$57.7Kim 2008, p.21*
2005US$57.4Kim 2008, p.21
2003US$56.0Kim 2008, p.21
2002US$48.0Foley & Foley 2003, p.27
United Kingdom2006£1.7UK Home Office 2006, p.4
2002£1.3The Fraud Advisory Panel, 2003, p.1
Canada2002C$5.0Brown & Kourakos 2003, p.12
Australia2007A$1.0+Australian Bureau of Statistics 2008, p.1
2002A$1.1Cuganesan & Lacey 2003, p.55
South Africa2007Rand1.0#Joseph 2008, p.1
The Netherlands2006Euro5.0Model Criminal Law Officers’ Committee 2008, p.13

# Estimate based on first 3 months of 2008 figure of 276 million Rand by Alexander Forbes Insurance.

* Three-year moving average - original amounts are US$40 (2008), $36 (2007), and $60 (2006) billion.

+ This amount also aggregates costs from lotteries, pyramid schemes, financial advice, and other scams.

Note there may be gaps in years between estimates gathered for some countries.

Complete Chapter List

Search this Book:
Reset
Editorial Advisory Board
Table of Contents
Foreword
Merrill Warkentin
Preface
Kenneth J. Knapp
Acknowledgment
Kenneth J. Knapp
Chapter 1
Jaziar Radianti, Jose J. Gonzalez
This chapter discusses the possible growth of black markets (BMs) for software vulnerabilities and factors affecting their spread. It is difficult... Sample PDF
Dynamic Modeling of the Cyber Security Threat Problem: The Black Market for Vulnerabilities
$37.50
Chapter 2
Somak Bhattacharya, Samresh Malhotra, S. K. Ghosh
As networks continue to grow in size and complexity, automatic assessment of the security vulnerability becomes increasingly important. The typical... Sample PDF
An Attack Graph Based Approach for Threat Identification of an Enterprise Network
$37.50
Chapter 3
Robert F. Mills, Gilbert L. Peterson, Michael R. Grimaila
The purpose of this chapter is to introduce the insider threat and discuss methods for preventing, detecting, and responding to the threat. Trusted... Sample PDF
Insider Threat Prevention, Detection and Mitigation
$37.50
Chapter 4
Richard T. Gordon, Allison S. Gehrke
This chapter describes a methodology for assessing security infrastructure effectiveness utilizing formal mathematical models. The goal of this... Sample PDF
An Autocorrelation Methodology for the Assessment of Security Assurance
$37.50
Chapter 5
Ken Webb
This chapter results from a qualitative research study finding that a heightened risk for management has emerged from a new security environment... Sample PDF
Security Implications for Management from the Onset of Information Terrorism
$37.50
Chapter 6
Yves Barlette, Vladislav V. Fomin
This chapter introduces major information security management methods and standards, and particularly ISO/IEC 27001 and 27002 standards. A... Sample PDF
The Adoption of Information Security Management Standards: A Literature Review
$37.50
Chapter 7
Peter R. Marksteiner
Information overload is an increasingly familiar phenomenon, but evolving United States military doctrine provides a new analytical approach and a... Sample PDF
Data Smog, Techno Creep and the Hobbling of the Cognitive Dimension
$37.50
Chapter 8
John W. Bagby
The public expects that technologies used in electronic commerce and government will enhance security while preserving privacy. These expectations... Sample PDF
Balancing the Public Policy Drivers in the Tension between Privacy and Security
$37.50
Chapter 9
Indira R. Guzman, Kathryn Stam, Shaveta Hans, Carole Angolano
The goal of our study is to contribute to a better understanding of role conflict, skill expectations, and the value of information technology (IT)... Sample PDF
Human Factors in Security: The Role of Information Security Professionals within Organizations
$37.50
Chapter 10
Nikolaos Bekatoros HN, Jack L. Koons III, Mark E. Nissen
The US Government is moving apace to develop doctrines and capabilities that will allow the Department of Defense (DoD) to exploit Cyberspace for... Sample PDF
Diagnosing Misfits, Inducing Requirements, and Delineating Transformations within Computer Network Operations Organizations
$37.50
Chapter 11
Rodger Jamieson, Stephen Smith, Greg Stephens, Donald Winchester
This chapter outlines components of a strategy for government and a conceptual identity fraud enterprise management framework for organizations to... Sample PDF
An Approach to Managing Identity Fraud
$37.50
Chapter 12
Alanah Davis, Gert-Jan de Vreede, Leah R. Pietron
This chapter presents a repeatable collaboration process as an approach for developing a comprehensive Incident Response Plan for an organization or... Sample PDF
A Repeatable Collaboration Process for Incident Response Planning
$37.50
Chapter 13
Dean A. Jones, Linda K Nozick, Mark A. Turnquist, William J. Sawaya
A pandemic influenza outbreak could cause serious disruption to operations of several critical infrastructures as a result of worker absenteeism.... Sample PDF
Pandemic Influenza, Worker Absenteeism and Impacts on Critical Infrastructures: Freight Transportation as an Illustration
$37.50
Chapter 14
Preeti Singh, Pranav Singh, Insu Park, JinKyu Lee
We live in a digital era where the global community relies on Information Systems to conduct all kinds of operations, including averting or... Sample PDF
Information Sharing: A Study of Information Attributes and their Relative Significance During Catastrophic Events
$37.50
Chapter 15
Gregory B. White, Mark L. Huson
The protection of cyberspace is essential to ensure that the critical infrastructures a nation relies on are not corrupted or disrupted. Government... Sample PDF
An Overview of the Community Cyber Security Maturity Model
$37.50
Chapter 16
Doug White, Alan Rea
In this chapter the authors present essential server security components and develop a set of logical steps to build hardened servers. The authors... Sample PDF
Server Hardening Model Development: A Methodology-Based Approach to Increased System Security
$37.50
Chapter 17
Jeff Teo
Computer attacks of all sorts are commonplace in today’s interconnected, globalized society. A computer worm, written and released in one part of... Sample PDF
Trusted Computing: Evolution and Direction
$37.50
Chapter 18
Miguel Jose Hernandez y Lopez, Carlos Francisco Lerma Resendez
This chapter discusses the basic aspects of Honeypots, how they are implemented in modern computer networks, as well as their practical uses and... Sample PDF
Introduction, Classification and Implementation of Honeypots
$37.50
About the Contributors